Does Indian Pharma/Biotech have the talent advantage?
The Indian government’s Pharma Vision 2020 aims to make India a global leader in end to end discovery and innovation by 2020. As the industry takes steps towards executing this vision, the talent landscape is also strengthening. LinkedIn recently launched a report- Indian Pharma and Biotech industry: The talent advantage- that highlights the growth of pharma and biotech talent, and accentuates the ways on engaging, hiring, skilling, and retaining great talent.
Key findings from the analysis:
The most In-demand skills:
The industry is witnessing an increase in product innovation, hence investments in R&D activities are on the rise. Regulatory affairs (RA) has emerged amongst the top 3 most in-demand skills in the industry. As Indian companies have a global presence, the report compares Indian RA professionals to those in the US (an essential geography for Indian Pharma/Biotech companies).
- Indian RA professionals are more mobile than the US.
- As talent is mobile, and there is talent asymmetry, it makes sense for companies to look beyond the apparent talent hubs- Washington, Chandigarh, and Ahmedabad are found to be hidden gems (high supply, low demand).
- The US RA talent pool is more gender-balanced than in India. However, Indian firms in the industry are increasingly tracking progress on the gender-balance metric.
Behavioral Insights on talent:
Talent from the industry is getting increasingly online. 68% of the pharma/biotech professionals in India follow a company on LinkedIn. And hence, organizations have to shift their focus steadily towards creating scalable, ’always-on’ engagement.
Organizations like Sun Pharma and Abbott India are increasingly investing in recruiting professionals for their HR teams from varied industries. The digital presence and employer branding are thus gaining an organization-wide status.
Here are the top five content topics and articles Pharma and Biotech professionals prefer to read.
Pharma Battle on Talent:
While Indian companies are making initial strides in engaging talent, the International HQ companies are engaging talent better. The report highlights the comparative analysis of talent engagement.
Conclusion:
With the majority of potential talent being online, the report accentuates a three-pronged approach to engage, attract, and hire the best talent by:
1. Content is critical and quality matters
2. Employer Branding and Social Media go hand in hand
3. Live your unique EVP
Read the complete report http://lnkd.in/pbreport1IN