Abcam
“The transformation was critical in enabling Abcam to have the people capability needed to increase sales by 15%, despite the challenges of Covid, and profitability from 15% to over 30%.”
Nick Skinner, Senior Vice President Human Resources
The Situation
Abcam, founded by life scientist Jonathan Milner in 1998, started with delivering a handful of antibodies in an ice-bucket and has grown into a global life sciences leader with 1,700 employees. Their rapid expansion, marked by double-digit organic growth and multiple acquisitions, posed significant recruitment challenges. The Talent Acquisition (TA) team, consisting of seven recruiters, was tasked with supporting over 700 hires globally per year. Efficiency became paramount to meet the high demand for specialised talent and to support Abcam’s ambitious business goals.
Our Collaboration
Our partnership with Abcam over the years has enabled them to leverage our expertise and resources effectively, driving significant improvements in their recruitment processes:
- Proactive Strategy Development: Utilising our research and insights, Abcam adopted a proactive approach to meet talent demand. This included developing a new early careers strategy in consultation with our experienced team at The Talent Labs.
- Operational Efficiency: Strategic resources from The Talent Labs facilitated Abcam’s focus on internal mobility, streamlining operations, and enhancing employee progression. Our templates and toolkits enabled a swift reorganisation, exemplified by the integration of content like ‘The Internal Mobility Insight Report’ into their new recruitment toolkit.
- Consistent Processes and Best Practices: Sharing consistent processes across the global TA team was critical for Abcam to manage time pressures effectively. The Talent Labs’ templates and toolkits played a crucial role in this rapid reorganisation.
- Specialist Mentoring and Industry Insights: We provided specialist mentoring support to Abcam’s TA leaders, offering reassurance and setting realistic targets based on industry benchmarks.
- Professional Development: Abcam’s TA team members attended our events, both virtually and in person, integrating insights from our case studies and resources into their development plans.
Our Impact
The strategic partnership with The Talent Labs has yielded substantial improvements in Abcam’s recruitment processes and overall team effectiveness, enabling them to thrive in a competitive market:
- Team Growth and Efficiency: Despite maintaining the same number of talent partners, Abcam increased hires by 36% without relying on agencies. Time to hire surpassed targets, and cost per hire was reduced by 46%.
- Enhanced Recruitment Metrics: The implementation of specific initiatives, such as internal mobility practices, led to a doubling of internal hires and significantly lower attrition rates within the first 12 months.
- Recognition and Employee Satisfaction: Abcam continues to rank as one of the best companies to work for, featuring in Glassdoor’s top 5 companies to work for, as it expands. This recognition underscores the positive impact of our partnership on their talent acquisition and employee satisfaction.
- Strategic Impact: The transformation in Abcam’s recruitment process was critical in enabling the company to increase sales by 15% and profitability from 15% to over 30%, even amidst the challenges of Covid-19.
Conclusion
Nick Skinner, Senior Vice President Human Resources at Abcam, highlighted the critical role of this transformation: “The transformation was critical in enabling Abcam to have the people capability needed to increase sales by 15%, despite the challenges of Covid, and profitability from 15% to over 30%.”
Mark Thomas, Vice President Talent Acquisition & Development at Abcam, praised our support: “The Talent Labs have been instrumental in supporting the creation of our talent strategy at Abcam through the sharing of both strategic and practical best practice. This in turn has helped power our growth through our people.”
At The Talent Labs, we are thrilled to have contributed to Abcam’s success, helping them navigate the complexities of rapid growth and achieve their strategic objectives.