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May 30, 2023 | 5 min read
The Value Of A Contingent Resource Strategy For Life Sciences Companies

Lynda Parker

In today’s market, with rising labor costs and competition for talent alongside economic uncertainty, there’s never been a more critical time to focus on a contingent resource strategy to reduce spend and mitigate risk. For life sciences companies in various stages of drug development, whether you’re a global biopharmaceutical company or a startup navigating the transition from Series A to Series B funding, there is incredible value in utilizing contingent resources.

Access to specialized expertise

Tandym Life Sciences has access to a wide network of professionals with specialized expertise in preclinical research, clinical trials, regulatory affairs, pharmacovigilance, and drug manufacturing. By leveraging contingent resources, life sciences companies can tap into this pool of specialized talent, ensuring that they have the right expertise for their specific drug development needs.

Flexibility & scalability

Hiring specialized contractors provides the greatest level of flexibility in terms of project duration and scope, allowing life sciences companies to ramp up or down as needed. Bringing in contractors for specific projects or phases of drug development allows them to scale their workforce based on the current needs of the project. This flexibility is particularly valuable in a dynamic industry where resource requirements may vary over time.

Speed & efficiency

Tandym Life Sciences has a streamlined process for identifying and screening specialized contractors, conducting reference checks, and managing contractual agreements, which reduces the burden for our clients. This frees up valuable internal resources to focus on core activities related to drug development, ultimately helping them get products to market faster. We know that one size does not fit all, so at the end of the day, our goal is to operate in lockstep with your teams to build a strong contingent workforce strategy.

Cost-effectiveness

Hiring specialized contractors will often be the most cost-effective solution, especially in comparison to the costs of hiring a consulting firm for a long-term project. Contractors are typically engaged for the duration of the project or a specific period, reducing ongoing expenses for the company.

Knowledge transfer

Specialized contractors often bring diverse experiences from working with multiple life sciences companies and projects. Not only does this lead to a more diversified workforce, but their expertise and insights can contribute to knowledge transfer within the organization, enhancing internal capabilities and fostering a culture of learning and innovation. We often see high-skill contractors supporting knowledge transfer via the development of training programs, project management, and market research, which becomes especially important for international companies expanding into new regions where there is less knowledge of the local market.

Mitigation of risk

Hiring specialized contractors can help mitigate risk for life sciences companies. We have rigorous screening processes and background checks in place to assess the qualifications, credentials, and track record of any contractor we work with. Additionally, engaging contractors on a project basis reduces the financial risk associated with long-term employment commitments, as they can come in and out of a project as needed.

The Tandym Life Sciences team is comprised of leaders with decades of deep experience in the industry, as well as those who’ve spent years in-house at global biopharmaceutical companies, providing a unique buyer-side lens to our solutions. This combination background allows us to put ourselves in the shoes of life sciences companies and act not as a vendor, but as a true partner with bespoke solutions tailored to each company’s unique needs.

While there are many players in the life sciences recruiting space, look for one that will serve as an invaluable strategic resource and function as an extension of your team. It’s more than just finding talent for your open roles – it’s about working in tandem through every phase of drug development to uncover gaps before they occur.


About Lynda Parker

Lynda brings over 25 years of pharmaceutical industry experience to Tandym Group, including 20 years of senior-level leadership in commercial strategy, business development, account management, and operations. She has deep experience across the pharma/biotech industry, having held executive leadership roles both on the manufacturer side of the business as well as various service providers. Lynda is passionate about working with life sciences clients to understand their challenges and build solutions to meet their needs for the benefit of the patients they serve.

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