The MedTech industry’s growth in Europe has grown significantly over the past few decades. MedTech Europe, a leading industry association in Europe, released data in 2023 stating that the medical device market in Europe has had a consistently positive growth trend, even with fluctuations from year to year and the impacts of the pandemic.
MedTech involves any technology used for medical purposes, usually medical devices that are used to diagnose, monitor, or treat medical conditions. This includes medical equipment, implants, prosthetics, and diagnostic tests.
With an increased need for medical technology developments in Europe, MedTech companies have a lot of growth potential. In this exciting window of opportunity for the industry, your MedTech business may be ready to recruit top-tier talent, expand into new geographic markets, or launch new projects.
Is it time to outsource your HR team so that you can reduce the amount of time, energy, and money you spend on things like recruiting, people management, payroll and benefits, and legal compliance?
At Europe HR Solutions, we provide fully customized HR solutions for your business’s unique needs. Whether you want someone to handle all of your HR needs on an ongoing basis or want an “a la carte” style option to choose only the necessary services, we’re here to create the ideal contract for your European MedTech company.
Unique HR Needs in the MedTech Industry
Every industry has its unique HR needs. In MedTech, these may include staffing, recruiting, and compliance issues.
Recruiting and retaining talent with specialized skills
MedTech relies on scientists, engineers, designers, and manufacturing experts with specialized knowledge in biology, anatomy, electronics, software, etc. Identifying and hiring these in-demand workers is an ongoing talent challenge.
Understanding regulatory compliance
HR policies and processes in MedTech must account for extensive regulations from governmental bodies, depending on the country or countries where you operate. Compliance touches talent management, safety policies, quality control, etc.
Prioritizing patient safety
Although it may not seem like there is a clear connection between HR and the safety of patients who use the products of a MedTech company, these two areas are certainly related. HR has a measurable impact on patient safety. When your HR department supports a strong focus on training, internal controls, and workplace protocols, the company provides better products. In turn, the outcomes for patients improve.
Facilitating cross-functional collaboration
Many MedTech firms use cross-functional teams spanning research, operations, marketing, and clinicians/end-users. HR policies must enable flexibility and collaboration between any of these collaborative groups.
Planning for rapid innovation cycles
Short product development cycles require flexible staffing arrangements. HR must enable shifting project-based hiring needs and redeployment of talent between teams. It is commonplace for MedTech companies to need to scale up quickly to meet demand, and your HR department should be able to stay on top of these changes.
Commonly Outsourced HR Tasks in the MedTech Field
Let’s take a look at some of the additional HR tasks that are commonly outsourced by European companies, including those in the medical technology sector.
Payroll Processing & Benefits Administration
- Ensure that employee payroll is fully compliant with EU regulations
- Guarantee the timely distribution of payroll
- Communicate with local providers to provide access to the best benefits
- Make sure that payroll abides by Europe’s complex tax laws
Onboarding & Offboarding Employees
- Streamline the process for onboarding new hires
- Supply any onboarding documentation that is mandated by EU laws
- Adhere to the EU’s compulsory offboarding procedures
HR Technology & Systems Management
- Select relevant software solutions for the company
- Support the implementation of any chosen HR system
- Confirm that all systems meet the national and EU data protection standards
Recruitment & Talent Acquisition
- Secure the best candidates for highly specialized positions in the company
- Leverage a deep knowledge of local talent markets
- Speak multiple languages to recruit top-tier global talent
Employee Training & Development
- Pinpoint skills gaps that signal the need for additional training
- Create development programs to encourage employees’ professional development
- Established training protocols for international and local team
- Set clear performance objectives and excellence standards for all departments
- Deliver detailed feedback on employee performance
- Align performance evaluations with company and regional cultures
HR Compliance & Legal Support
- Minimize the company’s legal and financial risks by ensuring full regulatory compliance
- Prepare employment contracts that adhere to Europe’s legal standards
- Provide knowledgeable counsel on labor law issues
- Give strategic HR advice on best practices for MedTech
- Equip your in-house HR team with the data, information, and metrics they need to make data-informed decisions
HR Reporting & Analytics
- Collect and analyze workforce insights
- Provide data-backed recommendations to the company
- Prepare HR reports that are tailored to the European market
Options for Outsourcing Your MedTech HR Services
HR outsourcing can look different from one company to the next. It all depends on what you’re looking for.
Popular HR outsourcing options include:
- Hiring a third-party company to manage all of your HR needs
- Use your in-house HR team to do some tasks and an outsourced company to do the rest
- Outsourcing an HR team to do certain projects on a short-term, contract basis
Europe HR Solutions offers a fully customizable contract to ensure that you get exactly what you need.
HR Outsourcing for a MedTech Startup
Startups have their own unique needs when it comes to outsourcing. If you are just launching your MedTech startup, your HR team can take care of many of the most challenging aspects of getting up and running, including:
- Creating a thorough employee handbook
- Conducting HR audits to find out what policies you may need to implement
- Recruiting, hiring, and onboarding your first employees
- Choosing the best software (HR software, payroll and benefits management, employee engagement software, data security, etc.)
Expanding an American or British MedTech Company into Europe
We also offer HR services designed specifically for companies from the US or UK that are expanding into Europe.
MedTech companies operating around the world are eyeing the opportunity to expand into Europe, thanks to the projected growth of the industry in the next decade and beyond. Opening a European operation involves:
- Choosing the right country (or countries) for your company
- Fully understanding all business, labor, and tax laws relevant to your industry
- Recruiting talented local employees with MedTech expertise
- Navigating European regulations around medical device approval and marketing
- Developing HR policies aligned with European labor laws and regional norms
- Selecting benefit plans that meet requirements of the country’s national health system
- Ensuring payroll and employment contracts satisfy country-specific regulations
- Keeping current with immigration, taxation and data privacy rules across Europe
- Accessing available government incentives for MedTech expansion and growth
Our knowledgeable HR professionals at Europe HR Solutions can provide consulting on how to make sure all of these things happen – or they can do it for you through an outsourcing contract.
Get Customized MedTech HR Support with Europe HR Solutions
At Europe HR Solutions, we have a team of dedicated, knowledgeable, and multilingual HR professionals who are ready to support your MedTech company as you get started, expand, or focus on growth.
Our team is here to provide a seamless connection between your executive leadership and all of your other employees. We will recruit, train, and manage your workforce while we ensure full compliance with the complicated laws and regulations in Europe.
To find out more, check out our track record of successful partnerships. Our satisfied clients tell you everything you need to know about what it’s like to work with our incredible team!
Choosing to work with Europe HR solutions means choosing to work with a team of highly experienced professionals who know the ins and outs of Europe’s growing industries, including the MedTech world.
Contact us to learn more about how we can help your company grow!