Case Study 3: Streamlining PM Hiring in India's Healthcare Sector

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Introduction

Beam Consultants took on a significant challenge in the Healthcare sector in India, where a rapidly expanding company faced the urgent need to hire Product Managers (PMs) with specific skillsets during the COVID-19 pandemic. The client's exponential growth demanded quick and efficient hiring, especially for key leadership positions. However, their existing vendors struggled with high candidate rejection rates and an inability to identify candidates with the essential product skillset. Beam Consultants stepped in to revolutionize the PM hiring process and deliver exceptional results.

 

Background

The client, a prominent player in the Healthcare sector in India, experienced tremendous growth during the COVID-19 pandemic. This surge in demand led to the urgent requirement of skilled Product Managers to meet the increasing needs of the organization.

 

Challenges

The company faced several challenges during their PM hiring process:

1. Exponential Growth: Rapid growth during the pandemic necessitated immediate hiring of PMs, including key leadership roles, within a limited timeframe.

2. Specific Skillset Requirement: The client required PMs with specific skills, including structured problem-solving abilities, data-driven approaches, and a strong focus on KPIs.

3. High Rejection Rate: Existing vendors had a high candidate rejection rate at the shortlist and interview stages, leading to delays and inefficiencies.

4. Mismatched Skillset: Some candidates lacked the fundamental product skillset required for the roles, hindering their suitability for the organization.

 

The Assignment for Beam Consultants

Beam Consultants took charge of the PM hiring process, aiming to identify and recruit the right talent for four key roles, two of which were leadership positions. The main challenge was to streamline the hiring process and ensure candidates matched the specific skillset requirements while adhering to the tight hiring timeline.

 

Approach

Beam Consultants adopted a strategic approach to redefine the PM hiring process:

1. Thorough Shortlisting: Utilizing their expertise, Beam Consultants conducted meticulous shortlisting to identify candidates with the required skillset and experience.

2. Comprehensive Interviews: Beam Consultants took charge of conducting two rounds of interviews themselves, ensuring a rigorous evaluation process.

3. Candidate Grooming: Candidates with potential but lacking certain essential skills were provided with guidance and training to enhance their product skillset.

4. Validation of Prerequisites: Beam Consultants verified salary expectations, notice periods, and other prerequisites to ensure smooth offer acceptance.

 

Results and Benefits

The implementation of Beam Consultants' strategic hiring approach brought exceptional results to the client:

1. Efficient Hiring: All four key roles, including two leadership positions, were successfully filled within an impressive 30-day timeframe from offer acceptance.

2. High Candidate Acceptance: More than 90% of the candidates shared by Beam Consultants accepted the offers, demonstrating the effectiveness of the screening process.

3. Successful Talent Acquisition: Over 75% of the accepted candidates cleared all interview rounds and proved to be an excellent fit for the organization.

4. Long-Term Success: Three out of the four hired PMs continue to thrive and contribute to the company's growth even after three years, solidifying their value to the organization.

 

Conclusion

Beam Consultants' strategic and meticulous approach to PM hiring in India's Healthcare sector resulted in successful talent acquisition and long-term employee retention. Their ability to identify candidates with specific skillsets and groom potential candidates for success contributed to the client's continued growth and success.

By partnering with Beam Consultants, the Healthcare company secured the right leadership and product management talent during a critical period, solidifying its position as a leading player in the industry.

 

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