Closing the talent gap in the pharmaceutical industry

Global economic and demographic pressures, rising customer expectations and changing R&D organizational models are transforming talent requirements for pharma companies. Med Ad News, an industry plattform, quotes a new report from PwC, New Chemistry: Getting the biopharmaceutical talent formula right, detailing how the changing R&D organizational models are changing the talent requirements within pharmaceutical companies. Exclusively scientific expertise is no longer the most necessary skill set, as companies now seek regulatory knowledge and relationship skills. To replenish the talent pool pharma players need effective HR strategies.

According to the PwC global study, CEOs identify talent gaps as the second largest threat to growth perspectives. Yet only half of the HR professionals surveyed said that their function was considered strategic in their companies. Senior leaders in pharma firms need to collaborate more closely with HR to harness the potential of inside and outside networks if they are to close tomorrow's talent gap.

Among the findings were that 51 percent of life sciences executives report that hiring is now harder than it was previously. Only 28 percent said that they are confident that they will access top talent. Sixty percent of pharma executives said that they intend to increase their investments of over the next three years to facilitate a more skilled workforce. Also, 72 percent seek to increase their R&D capacity during the next year.  

(04|2013) Source: Medadnews