#402: How to Attract Real Talent in the Medical Device Industry

Episode Summary:

In this episode of the Global Medical Device Podcast, host Etienne Nichols sits down with Kirk Petyo, Managing Partner at Talent Factory Recruiting, to explore the art and science of hiring in MedTech.

Kirk shares strategies for building magnetic employer brands, explains the difference between competencies and capabilities in candidates, and warns about the hidden costs of bad hires or delayed recruitment. They also discuss how to attract top talent from outside traditional MedTech backgrounds, and why companies must clearly define their values to thrive in today's competitive hiring landscape.

Key Timestamps:

• [00:02:00] – Introduction to Kirk Petyo and Talent Factory Recruiting's unique approach
• [00:05:30] – What makes a company a "magnet" for top talent in MedTech
• [00:12:20] – How to recruit candidates from outside traditional MedTech backgrounds
• [00:20:00] – How to differentiate between a good worker and a good interviewer
• [00:30:10] – The ripple effects of a single bad hire in a MedTech company
• [00:35:50] – The cost of leaving key roles unfilled for too long
• [00:44:00] – Outdated hiring practices that repel top candidates
• [00:50:00] – Trends in hiring and workforce planning for 2025
• [01:02:00] – Final advice for MedTech hiring managers and company leaders

Standout Quotes:

1. "If you treat hiring like a transaction, you'll get transactional results. But if you treat hiring as a critical strategy for growth, you’ll flourish." – Kirk Petyo
2. "Your candidate’s life must be better at your organization than it was at their last job—if you can't tell that story, you'll struggle to attract top talent." - Kirk Petyo

Takeaways:

• Define your value drivers clearly: Understand what makes your company unique before trying to attract top talent.
• Focus on capability, not just competency: Prioritize what candidates can learn and contribute over time, not just what they know today.
• Structure your interview process: Build a consistent, benchmark-driven approach to avoid gut-feel hiring mistakes.
• Partner with strategic recruiters: Seek recruiters who genuinely understand your company culture and goals, not just resume matchers.
• Act early on critical hires: Don’t delay filling strategic roles; the opportunity cost and cultural risk multiply with time.

References:

• Kirk Petyo’s LinkedIn Profile
• Talent Factory Medical Website
• Etienne Nichols' LinkedIn Profile

MedTech 101 Section:

Competency vs. Capability (Simplified):

Think of competency like what’s already in a candidate’s toolbox—their current skills and experiences. Capability is their potential—the size of the projects they could build if you give them the right tools and environment.

Audience Engagement Prompt:

Poll Question: What’s the biggest challenge you face when hiring MedTech talent?

• Defining clear job expectations
• Attracting candidates from outside the industry
• Avoiding bad hires
• Speeding up the hiring...