The Life Sciences sector is under pressure. Increasing competition in the emerging world. Healthcare reforms in many nations. Rising customer expectations. Growing cost constraints. Sluggish scientific productivity. Need we name more?
HR leaders from top global Life Sciences organizations in the U.S., Europe and the Middle East share the regional differences in the challenges they are facing, but also highlight case studies that share real solutions.
Addressing the Looming Talent Crisis for Life Sciences
1. Addressing the Looming
Talent Crisis for Life Sciences
#talentmindset
February 2014
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2. Agenda
Greg Summers
SVP, Pinstripe & Ochre House
#talentmindset
• Industry Challenges & Opportunities
• Global Similarities & Differences
– Europe
– Middle East
– Americas
• Solutions & Case Studies
– Strategic Team Structure.
– Emerging Markets Strategy.
– Employee Value Proposition.
– Strategic Workforce Planning.
• Q&A
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3. Market Drivers
Patent Cliff
Innovation:
Make, Buy
or License?
Business
Evolution
Talent
Strategies
Sluggish
Scientific
Discovery
Cultural
Sclerosis
Regulatory
Constraints
#talentmindset
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4. Life Sciences in Europe
• No transparency to critical skills
needed for growth.
• Misalignment between
organization’s brand and the
Employment Value Proposition.
• Need to build a strong business
case to invest in talent pipelines
and communities.
#talentmindset
99%
believe the lack of
young talent presents a
significant risk to the
achievement of
business goals.
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5. Life Sciences in the Middle East Africa
• Lack strategic workforce plans
aligned to business goals.
• Need more “big data” and analysis
on new entrants to the workforce.
• Lack infrastructure to build and
engage with talent communities,
both local and global.
69%
experience challenges
recruiting in new
emerging market
territories, specifically
when sourcing
technically-skilled local
“in country” talent.
#talentmindset
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6. Life Sciences in the Americas
• Need to attract and retain talent
with a hybrid skill base.
• Lack of realism amongst line
management.
• Increasingly working within
outdated business models.
51%
of global Life Sciences
CEOs report greater
difficulties attracting and
retaining the right talent—
the highest percentage of
industries surveyed.
-PwC
#talentmindset
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7. The Silver Bullet, perhaps?
Shift from tactical to strategic.
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8. Time to Get Strategic
Strategies for Overcoming Tactical Talent Practices
• Build on a Solid Foundation – Team Structure.
• Craft Your Emerging Markets Strategy.
• Engage through Your Employee Value Proposition.
• Create a Strategic Workforce Plan Aligned with the Business.
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9. Build on a Solid Foundation – Team Structure.
• Share Information!!!
– What has worked and what hasn’t?
– Are there significant differences in the
cultures within your business?
– What are the nuances site to site?
• Be involved when it makes sense!!
– Assess for cultural fit
– Remember you are not the manager
Eileen Kovalsky
Associate Director of Global
Recruitment Outsourcing
Bristol-Myers Squibb
• Keep your structure consistent but allow
for elements of customization as needed to
deliver for the business
• Integrate the team as one!
#talentmindset
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10. Time to Get Strategic
Strategies for Overcoming Tactical Talent Practices
• Build on a Solid Foundation – Team Structure.
• Craft Your Emerging Markets Strategy.
• Engage through Your Employee Value Proposition.
• Create a Strategic Workforce Plan Aligned with the Business.
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11. Craft Your Emerging Markets Strategy.
Ioana Constantinescu
Head of Life Sciences
Carmichael Fisher
#talentmindset
Source: IMS Health, IMS Market Prognosis 2011-15
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12. Craft Your Emerging Markets Strategy.
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13. Craft Your Emerging Markets Strategy.
The Current Life Sciences Landscape in Middle East Africa
• Aggressive growth targets.
• Substantial reliance on imports.
• Patent cliff.
• Government regulations.
• Sedentary lifestyle – increase in chronic diseases.
#talentmindset
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14. Craft Your Emerging Markets Strategy.
Challenges Affecting Recruitment in the Middle East Africa
• 90% of Life Sciences organizations are restructuring their
operating model due to the strategic importance of the region.
• Significant driver for change is the skills shortage in the
sector.
• Internal resources are currently the primary candidate source.
• Budget constraint plus political instability are barriers to talent.
#talentmindset
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15. Craft Your Emerging Markets Strategy.
Common Industry Themes in the Middle East Africa
• Business Transformation.
• Attracting Talent in an already limited talent pool.
• Recruiting across new geographies.
• Creating Strategic talent pools.
• Building a robust talent management strategy.
#talentmindset
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16. Craft Your Emerging Markets Strategy.
Move from the tactical to the strategic
• Build workforce plans to align people strategy to the business
strategy.
• Greater market intelligence to pro-actively map business
critical talent.
• Attraction strategies to differentiate and improve overall EVP.
• Visibility of recruitment with analytics to enable forward
thinking strategies.
#talentmindset
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17. Time to Get Strategic
Strategies for Overcoming Tactical Talent Practices
• Build on a Solid Foundation – Team Structure.
• Craft Your Emerging Markets Strategy.
• Engage through Your Employee Value Proposition.
• Create a Strategic Workforce Plan Aligned with the Business.
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18. Benefits of a engagement = managed EVP
Attrition
Profitability
Tim A. Ackermann
Senior Director
Talent Acquisition
PAREXEL
Salary
premium
Recruiting
costs
Productivity
Patient Safety
Incidents
Customer
Satisfaction
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19. Engage through Your Employee Value Proposition.
Mission:
To accompany you on your journey
to help prevent and cure disease
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3
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Global
Footprint
Diversity of
Work
Teamwork/
Open
Communication
Professional
Development
Flexibility
People
Service
Global Journey
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20. Pharma
Challenges of Engagement in Pharma.
Risk taking
Highly regulated
Open
Secure closed shop
Transparent
Controlled access to data
Knowledge sharing
Hierarchical
Crowd based
Standardized one-to-many
communication
Personal many-to-many
communication
Long development cycles
Immediate deployment
Protected IP
Open source
Owned media
Shared Media
Social Media
Risk averse
#talentmindset
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21. Time to Get Strategic
Strategies for Overcoming Tactical Talent Practices
• Build on a Solid Foundation – Team Structure.
• Craft Your Emerging Markets Strategy.
• Engage through Your Employee Value Proposition.
• Create a Strategic Workforce Plan Aligned with the Business.
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22. Strategic Workforce Planning Is Hard
• Only 20% of
organizations we
interviewed do longterm planning.
• 40% of organizations
are starting to invest in
this area.
• Heavy focus on the
internal processes.
“SWP is the 5-10
year plan. There is a
challenge to educate
the organization in
that context and to
keep it live.”
“We find it hard
enough to do
resource planning in
our organization,
however unless we
shift this, it will be a
significant risk to the
business.”
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23. Steps to Strategic Workforce Planning Success
DEVELOP THE WORKFORCE PLAN
ANALYZE THE GAPS
FORECAST THE DEMAND
FORECAST THE SUPPLY
DEFINE THE STRATEGIC DIRECTION
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24. Talent challenges must be tackled
WITH TALENT!
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25. Thank You! Questions & Answers.
Please Stay in Touch!
Europe and Asia Pacific
Simon Lythgoe
simon.lythgoe@ochrehouse.com
+ 07850 508561
The Life Sciences Crisis:
Tackling Global Talent Challenges
Middle East Africa
Ioana Constantinescu
iconstantinescu@carmichael-fisher.com
+ 971 50 379 9587
Americas
Greg Summers
gsummers@pinstripe.com
+1 262-289-2134
http://resources.pinstripetalent.com/2014WebDownl
oads_LifeSciences_WP.html
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