Retaining pharma top talent
pharmafile | February 25, 2011 | Feature | Business Services | MedImmune, careers, recruitment, talent retention
Strategies to co-ordinate talent retention differ between companies, and they may not always be as forward-focused as they could – or should – be.
Particularly during difficult economic climates, companies may be tempted to cut back on talent-nurturing activities such as training and staff development in order to save money in the short term. But at what cost?
In the search to minimise expenditure, pharma companies may risk losing the very thing that made them successful in the first place: talented staff.
Having worked in interim recruitment for many years, I have seen my fair share of life sciences roles come and go. But one thing that has always struck me is how the most successful firms keep hold of their most talented members of staff. And keeping these staff on your books often leads to the greatest achievements.
But how do they do it? The key is in successful talent management. Individuals with particularly strong skills want to be presented with the best opportunities to make use of them, however varied or diverse they may be.
One example of good talent management that sticks in my mind is MedImmune.
Primarily an R&D and manufacturing company, MedImmune has established itself with one of the most robust pipelines in the biopharmaceutical industry. And at least part of that success has its root in their progressive and ongoing approach to talent management and staff engagement.
Jon Green, vice president of business operations at MedImmune, is a case in point. He didn’t join in his current role, but has in fact held a number of different positions during his 18-year tenure with the company.
“I joined the company when we were a team of just ten people. So one of the things that has really motivated me is helping to build the company into what it is now, which for the Cambridge site is 500 strong. We are now part of a global organisation which totals nearly 4,000 employees,” Mr Green explains.
Having a sense of ownership and engagement is a common theme with long-term employees, with the potential to make a lasting impression appealing most, he adds.
“It’s being involved in the growth of the company, being able to actually make an impact on its development in many different ways. Personally, I have had a big hand in making the Cambridge site what it is now.”
Mr Green started work at MedImmune as a scientist. “I became qualified through part-time education. So on the strength of that, I applied for a job at Cambridge Antibody Technology (as it was then) as a senior scientist. I brought a number of skills that they didn’t have at the time, in terms of cell biology, immunology and histopathology,” he says.
“Because of my very practical nature and experience in the lab, I was encouraged to take on the part-time role of general laboratory manager. That role set me on the path to where I am today as the VP of business operations. Rather than staying as a scientist, I became an operational manager looking after facilities, premises, and a number of ancillary groups as the company grew. This is the reason I have been able to make an impact within the organisation, because of the number of buildings we operate in.”
For Mr Green, this marriage of experience and opportunity were what opened so many doors for him, and it is spotting this potential, and capitalising on it, that makes a company truly successful at retaining top talent.
Another essential ingredient to effective talent management is training. “MedImmune has put me through quite extensive management training over the years. I have been able to learn my job ‘on the job’, so I’m recognised in the locality as a bit of an expert in terms of biotechnology premises, health and safety, and security as applied to a biotech company,” says Mr Green.
Talent management can clearly lead to fantastic opportunities for employees and employers alike, yet it is often seen as non-essential to business operations.
A recent survey by RSA of nearly 400 life science executives found that, while over 90% identified talent management as a key priority for 2010, only 26% had an active strategy in place for retaining talent, and 68% had no clear leadership succession plan.
But by recognising that talented individuals thrive on both new challenges and personal investment in the business, firms can keep hold of key members of staff and foster real loyalty over the long term.
Dafydd Wright is a senior consultant for RSA Interims. For more information visit their website found at: www.theRSAgroup.com
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