Commercial Talent Strategies for a Competitive Edge
With shifts in customer demand, the life sciences and analytical instruments industry is struggling to control costs and implement specialization tactics to generate a competitive advantage. One area that has a direct impact―creating a formal and well-documented program for talent management.
In this on-demand webinar, Raj Sharan and Sean Higgins, directors for Alexander Group, share the latest findings from the research report, Five Principles for Effective Talent Management in Life Sciences. With over 250+ responses from commercial leaders, the findings indicate,
- Life sciences and analytical instruments organizations are developing programs to attract and retain top talent to push innovation.
- Life sciences and analytical instruments firms that realize consistent profitable growth spend nearly 50% less on sales turnover.
- Companies that measure employee skills and competencies on a quarterly basis realize a ~20% reduction in employee attrition due to insufficient training.
Life sciences candidates move through the talent funnel quickly, with companies taking approximately three weeks to open generalist rep positions.
- Compensation is the #1 reason candidates accept hiring offers and is also the top reason employees resign; the dollar amount, however, is not the only component that matters.
Discover the full research findings―watch the webinar today!