Life Sciences: Five Principles for Effective Talent Management
Life sciences and analytical instruments organizations are developing programs to attract and retain top tech talent to push innovation. How are best-in-class organizations crafting and executing a cohesive commercial talent management strategy?
Alexander Group recently surveyed 250+ commercial leaders in life sciences and analytical instruments to gain their insights on the best practices for developing a talent management strategy that truly brings a competitive advantage.
The report, Five Principles for Effective Talent Management in Life Sciences, is now available. Highlights include:
- Companies that invest in employee engagement programs achieve higher customer experience ratings.
- Life Sciences companies lead in having diversity targets for hiring and retention, but lag in reporting progress across those targets.
- Life sciences candidates move through the talent funnel quickly, with companies taking approximately three weeks to open generalist rep positions.
- Companies that measure employee skills and competencies on a quarterly basis realize a ~20% reduction in employee attrition due to insufficient training.
- 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.
Interested in finding out more on how to develop advanced practices for talent management?
Please complete the form and an Alexander Group representative will be in contact with you soon to schedule your briefing.
