The Life Sciences industry is faced with many challenges. The patent cliff has eroded profitability, regulatory issues are testing the confidence of customers and employees alike, and the industry continues to shed workers.
As a result, Life Sciences talent has dramatically risen in impact and importance—specifically, aggressively managing and retaining top performers. In fact, 51% of surveyed global CEOs in the Life Sciences sector have reported greater difficulties attracting and retaining the right talent (the highest of all industries).
Cielo recently conducted a global study of more than 750 HR, recruitment and talent executives to find out where in particular the most successful companies are excelling (Leaders) with regard to talent management, and where those still challenged are struggling (Laggards).
Our findings, published in the Cielo Talent Activation Index, identified five essential behaviors of a Life Sciences Leader, including the dramatic business impact of succeeding in these talent areas:
Are their strategies other than those listed above—for example, shifting from tactical to proactive hiring, embracing strategic sourcing or undertaking workforce segmentation—that have most benefited your organization? How important is finding and retaining the “right fit” to your company?