Finding the right people to join your Pharma team in 2022 is just one part of the battle. The growing talent shortages in life sciences and the pharmaceutical industry have placed companies under increasing pressure in the last couple of years.
Now, there’s more competition battling for the same talented professionals in the Pharma space. Some companies are even working to lure employees away from their position working with existing organisations, making retention even more important.
Understanding how to retain your existing and future Pharma talent in 2022 could be the key to running your business smoothly. Here are some of the challenges you’ll need to face as we move into the new age of work.
Challenge 1: Teams want Flexible Work
In almost every industry today, the demand for remote and flexible working is on the rise. As Microsoft’s work trend index reports, around 70% of workers want flexible and remote working options to continue in the years ahead.
To attract the best pharma talent and keep your team members close, it’s important to think about how you can enable remote and hybrid working strategies. Consider:
- What kind of roles will be suitable for remote working?
- How you can enable remote working with the right technology and management styles
- How you’ll onboard and consistently engage your remote working staff.
Don’t just offer remote and hybrid working options; make sure your teams working outside of the office feel like they’re still part of the company culture. Whether they’re working remotely or in a traditional office environment, everyone in your workplace should feel like they have the same opportunities.
Challenge 2: Improving Empathy
Microsoft’s insight into the Work trends of 2020 and 2021 found that leaders are largely “out of touch” with their employees. In today’s modern Pharma space, your employees want more than just a wage; they want to feel like an important part of a team.
Concepts like “empathy” in employment are becoming increasingly essential as team members look for evidence their employers have their best interests at heart. Introducing things like wellbeing programs, strategies for diversity and inclusion, and even mental health days can all help to demonstrate the appreciation you have for your team.
Regular positive feedback, both for internal and external employees (people working remotely), can be extremely useful. Your employees will be looking for more authentic, meaningful experiences in the workplace. Along with feedback, make sure you provide plenty of transparency about what’s happening in the company so no one feels out of the loop.
Challenge 3: Burnout
As new modes of work, like hybrid and remote operations, become increasingly common in the pharma industry, companies will need to ensure they’re not accidentally “overworking” their staff. Ambitious professionals in this industry are often prone to burnout because they don’t properly separate their work life and personal lives.
This problem becomes particularly significant in the age of remote work, where many employees will be working from home and might not know when to switch off their phones and communication apps. To prevent overwork and burnout, make sure:
- Employees have a distinct understanding of their weekly schedules
- Staff members are taking regular breaks and stepping away from the “office”
- Employees know when to turn off their communication devices and ignore messages
- Managers and leaders respect the individual work capacity of each employee
Make sure team members know who they can turn to for guidance in your workplace when they feel like they’re struggling with too much on their plates.
Challenge 4: Diversity
Studies show that around 37% of employees consider diversity to be a barrier to progression in their organisation. However, companies investing in diversity are more likely to attract and retain a wider range of dedicated professionals.
In 2022, pharma companies will have access to a huge range of potential hiring options – perhaps more than ever before. You’ll be able to find employees online and recruit them remotely to join your team. There’s also the rise of Generation Z to consider and the new opportunities younger professionals will bring to the workplace.
To show new and existing employees you’re committed to keeping the workplace as fresh and diverse as possible, it’s important to have a strategy in place for hiring all kinds of team members. At the same time, ensure you have strategies in place to offer different forms of assistance to employees based on their unique needs. As opportunity is democratised with talent movement and remote work, this is the time for business leaders to take advantage of all kinds of talent.
Challenge 5: Maintaining Company Culture
Finally, company culture is often regarded as one of the most important factors in retaining employees. If your employees feel like they’re a part of a good culture, they’ll be more likely to feel invested in their position with your team.
However, with remote and hybrid working on the rise, employers will need to determine how they will rebuild social capital and culture in a space where teams aren’t always physically connected. Investing in technology to bridge the physical and digital worlds, like video conferencing tools, is a good start. However, there’s more work to do.
A good option may be to keep your finger on the pulse of the company culture in your pharma company, with regular feedback surveys and questionnaires where people can share their feelings about the business. Give your employees the power to make an impact on the way your business runs and the things you do each day. This way, you’ll develop more “buy-in” from staff who will be less likely to leave for another role.
Now is the time for business owners to take advantage of a rapidly evolving workplace. If you can adapt to the needs of a changing workforce, you can attract and retain talent from all around the world.
Get help attracting the kind of employees you need on your team with Kinetic today. You can reach us via phone (+971 (0)4 442 0921) or email!
How Kinetic Can Help
Kinetic sources professionals locally and internationally for leading multinational, regional and local Pharmaceutical and Medical Devices companies, including Consumer Healthcare organisations.
If you need help sourcing the best candidates for your pharmaceutical or medical device organisation who will help drive your business forward this year, contact us today.