My Talent Strategy colleagues will be sharing our views on how clients can think differently about the talent solutions the deliver to their organizations. In a world where simplification, brand recognition, and pace influences who attracts and retains the right talent with the skills needed to compete, talent leaders can’t afford to stand still, even when budgets globally are tight.
Join Stu Brown and Nicole Brender-a-Brendis as they share six things you can do to progress your talent agenda and save on costs.
In today’s competitive talent market, attracting and retaining talent poses a significant challenge for organisations. This is where employer branding plays a key role. Your Employer Value Proposition (EVP) or Talent Value Proposition (TVP) should take centre stage in acquiring and retaining the right talent.
But the world is changing at a fast pace. The flexible work arrangements and global talent accessibility are prompting organisations to rethink how they can deliver a consistent employer brand proposition to engage the talent they need.
Recently, AMS held a discussion with talent acquisition leaders across the APAC region to explore strategies for building a compelling employer brand, and the nuances of customizing brand messages for different audiences.
Here are some of the key takeaways from the session.
Moving from EVP to TVP
Organisations are now moving away from the comprehensive EVP model and towards creating targeted TVPs.
Traditionally, EVPs look across an organisation’s entire group – its audiences, locations etc. – and communicate (to both internal and external talent) the values of the organisation, what it offers to candidates, and what is expected of them. Crafting a robust, all-encompassing EVP can requires a lot of investment, both in financial cost and resources.
In contrast, TVPs focus on specific core priorities, whether it be a location where talent is lacking, or a specific skill set needed to fill a skills gap. So, rather than trying to tackle the whole EVP, crafting a TVP allows the organisation to understand a particular talent segment and develop a messaging platform that speaks directly to them.
This targeted approach enables organisations to analyse their TVPs to identify collective patterns and candidate responses. This valuable insight can subsequently shape their EVP. As one expert put it, “It’s basically building your EVP from the ground up, instead of a big pie in the sky idea and trying to make it fit for each of your audiences.”
Getting the balance right
There were varied opinions from the roundtable panel on whether a business’ TVP should be the same for both internal and external candidates.
Many panellists emphasised the importance of brand consistency, especially when communicating the organisation’s values. Nonetheless, all experts agreed it was crucial to have the ability to adapt a TVP messages flexibly when targeting specific markets.
One panellist shared their strategy of developing tailored TVP ‘personas’ to create targeted messaging, focusing on candidates with specific degrees. Another speaker seconded this approach, highlighting the necessity to adapt strategies for various global locations, resulting in a more niche and targeted TVP messaging. As one panellist aptly put it, “The concept of a brand needs to evolve over time depending on your needs”.
This was no different when it came to internal staff. One expert highlighted that most of the talent in their organisation is under 35, hence they have tailored their TVP messaging specifically for Generation Y and Z workers.
The key takeaway is, regardless of the message, organisations must be clear on the connective tissue in their TVP. Understanding the fundamentals that align with the business’ core values and culture remains paramount.
Delivering the proposition
Discussing the new TVP approach is one thing, but executing it is a whole different challenge.
Many panellists faced the same dilemma: creating a consistent brand message while retaining the flexibility to tailor it when necessary.
A solution proposed by the panel was having access to strong and consistent toolkits in local markets. These toolkits empower organisations to target specific talent groups with adaptable key messages. This might include using different imagery or pulling out sub-key messages that are relevant to the targeted audience.
Understanding the audience is key, and having a toolkit that sets your TVP benchmark makes it much easier to flex and shape around different groups. Without one, ensuring brand consistency can be challenging.
As one panellist said, “The key to success is to prioritise the exact talent segment you need to talk to, focusing on the niche or business-critical ones, or the ones that meet your diversity targets.”
Showing people what you’re made of
Telling compelling stories about the business is one great way to bring in new talent. Many panellists shared how they are creating new and engaging video content based on the day-to-day life of the organisation. This has proven to be successful in attracting candidates. “It’s an authentic way of showing people what it’s really like to work at the business. It helps people see what they could be doing within the business,” said one speaker.
However, the panel emphasised the importance of keeping it real. Though authentic testimonials may not always have the most polished look and feel, they contribute to the content’s authenticity. One panellist said, “Having content that’s believable is far more important than having something that costs a lot or takes time to produce.”
Listening to your teams
At the heart of any business are the people that work there. Listening to internal teams is crucial when crafting a TVP or any related content. Understanding the reality of everyday life in the business is essential for accurate representation. As one panellist highlighted, “You don’t want to be selling something that’s not true about the business. Because when people join, if it’s not the reality, then attrition starts.”
Setting the guardrails
There was extensive discussion on maintaining control of TVP content. When executing brand activities online (creating video content or writing social media posts), you open yourself up to the risk of negative posts or comments. Establishing some ground rules is a good idea to mitigate potential damage.
Industries such as Pharma/Life Sciences and Finance, being highly regulated industries, need some rules in place. Many organisations will create simple one-page user guides with helpful hints on how and what to post on the business social media platforms.
Utilising technology is extremely useful for creating controlled, consistent TVP content. Some panellists said they use platform or apps that allow internal ‘brand ambassadors’ to easily film videos on their phones, edit them using pre-determined brand guidelines, and publish directly. It’s about creating a framework that represents the brand and is user-centric.
One organisation even formed a team to track the content and adapt anything that wasn’t ‘on-brand’. However, as one panellist said, “People will post what they want, and you can’t verify everything that goes out.”
The challenges ahead
TThe talent landscape is evolving rapidly, with new factors impacting the ability to attract and retain talent each day.
The panel experts agreed that the ability to pivot needs to be accelerated. Candidate and employee expectations, especially for Gen-Z talent, are shifting. An organisation’s TVPs must align clearly with and articulate its values and aspirations. Businesses must be prepared to be agile, creative and genuine in communicating their brand to this new world of talent.
Need help building a compelling brand both externally and integrally? AMS has the expertise to deliver the right talent strategy for your business, today and tomorrow. Get in touch today.
The holidays and the ‘end of year pause’ week that myself and my AMS colleagues took now all seem like the distant past as 2024 is in full swing.
Whether it’s a digital app, a new written planner with a section for goals, articles, Instagram feed, or goal setting tasks being released out of your HR system, we’re all reminded of the opportunity to refresh our focus. Being a part of a high-performing global advisory team means the expectations of ourselves, our clients, and our internal colleagues are constantly increasing.
Sometimes that expectation is to know all about every emerging TA technology, sometimes it’s what roadmap decisions should be made in light of generative AI, other times it’s which talent segment should be the top focus for an upcoming campaign based upon market dynamics. The list goes on depending upon the day and business problem we are looking to solve.
So as my teams and I refresh our goals, I started to think more about what is the common thread or skill that is needed to evolve, achieve targets, and be successful. To me, curiosity is at the top. I’d challenge you to consider how each day you can seek an alternative way, be vulnerable, seek to understand, and enable a safe space for questions and learning amongst colleagues.
Great organizations and leaders are constantly changing. And cultivating the kind of culture that can adapt to those changes and create both outperformance and employee flourishing requires a deep commitment to curiosity. It’s only through constant questioning that high performance cultures can keep their competitive edge.
The days when a manager could succeed by a weekly team meeting and counting employee output have long passed. We now live in a world where employees are encouraged to bring their whole selves to work and to integrate personal life into business life. As a result, we get to know each other better, we care for each other more and our work benefits from both. This change also means that topics once hidden under dark of night, are now discussed between manager and employee.
This Harvard Business Review article makes a strong case for companies to proactively support employees experiencing menopause. By employers getting ahead of health conditions, including menopause, the employee base feels supported, knows where to go for resources and is able to stay healthier and therefore more productive.
So the answer? Yes, you can talk about menopause at work, and as a leader you should learn how to create a successful conversation.
When the workforce has improved physical and mental health, everyone wins.
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For Parts 1, 2, and 3 of this series, visit here – Part 1, Part 2, and Part 3
Pillars of Resilience 4: Structures
Having examined three key pillars of organisational resilience, we arrive at the fourth and final pillar. After attitudes, beliefs, and agility, structures are the final major component whose embedding into a business ensures it emerges stronger from times of crisis.
An Example: Talent Structures
Robust talent structures are often highlighted for the pivotal role they play in resilience, particularly following the Great Resignation and accompanying ‘War for Talent’ in which many businesses are caught. The Great Resignation, otherwise known as the Great Attrition or even the Great Reshuffle, is an economic trend that has, since the start of 2021, seen unprecedented numbers of employees resigning from their posts. Major motivations include poor company culture, lack of growth opportunities, inadequate flexible working models, childcare issues, and low salaries. Perhaps not too surprisingly, surveys have revealed that those who have found new employment are experiencing improved pay, opportunities, flexibility, and work-life balance than they had been offered by their previous post.
The message from PwC’s latest Global Workforce Hopes and Fears Survey is clear; the Great Resignation is not over. 26% of the global workforce intends to resign in the next 12 months, compared to 19% last year, with employees feeling stifled and unfulfilled. Albeit that, as we saw earlier in this series, many global CEOs are anticipating a five-day return to offices, the data point in the opposing direction, towards the need for reinvention and the cooperant energy and support of the workforce.
The War for Talent is an intertwined subject, referring to the increasingly competitive climate in which organisations are trying to retain and recruit employees. The most significant predictor of industry-adjusted attrition is toxic corporate culture, with job insecurity and failure to recognise employee performance among the top five. Interestingly, very high levels of innovation are counted as a dissuasive factor for employees, suggesting that innovation must not come at the expense of culture; business leaders must find a healthy medium.
The Life Sciences industry is not a neutral party in the War for Talent; while it has always experienced attrition, there is today a higher proportion of talent migrating out of the sector altogether, forcing business leaders to rethink talent strategies that address not just attrition but an ever-widening skills gap. 80% of pharmaceutical companies reports a skills mismatch, indicating that, particularly in this climate, senior leaders need to re-evaluate recruitment and prioritise upskilling.
Equipping leadership
Executive education
Similarly to what we have seen in regard to the first three pillars, executive education programmes can help to develop senior management as they embed certain structures and frameworks into their organisations. A course like Mastering Talent Management: Hiring, Engaging, and Rewarding A+ Talent offered by Wharton equips talent leaders with methods, strategies, and tools for employee engagement, increased people analytics competency, and knowledge of incentive and reward frameworks. However, structures for resilience are by no means limited to talent. The Asian Institute of Management offered the course Crisis Leadership in November 2023, which aimed to empower learners to build crisis management structures into their leadership and businesses, including frameworks for situational assessment and crisis communication plans.
Rotational assignments
In the last instalment, I highlighted how rotational assignments can play a part in furnishing leaders and emerging leaders with cognitive agility. Indeed, a survey of 143 CHROs, conducted by the Darla Moore School of Business at the University of South Carolina, found that providing rotational assignments for emerging leaders ranked highly for importance as a practice for developing future C-Suite, higher even than leadership development programmes or mentoring. The extent of their perceived importance is likely down to the truly empirical insight such assignments offer into different business areas, locations, project types, and indeed structures. Rotational assignments within business units and their varying working models and structures enhances a leader or aspirant leader’s comprehension of the entire organisation and equips her to then create and tailor the right frameworks for resilience.
Do you want to discuss your leadership talent strategy, or need help identifying and attracting the right leaders for your business?
A collaboration with AMS Executive Search means an holistic and nuanced approach to securing the best individuals for your life sciences organisation, from Drug Programme Leaders to Chief Commercial Officers. To have a conversation, please get in touch via LinkedIn or email.
For Parts 1 and Part 2 of this series, visit here – Part 1 and Part 2
Pillars of Resilience 3: Agility
In the first two instalments in this series, I examined four key pillars of organisational resilience and suggested how to equip life sciences leaders to sustain the first two of these: ‘attitudes’ and ‘beliefs’. This article explores the importance of the third pillar – ‘agility’ – and proposes ways to ensure senior leaders are ready build this component into their business’s DNA.
An Example: Innovation
The Agile Business Consortium understands the idea of ‘agility’ as ‘a people-centred, organisation-wide capability that enables a business to deliver value to a world characterised by ever-increasing volatility, uncertainty, complexity, and ambiguity.’ This conception acknowledges not only the fact that an organisation must operate in a dynamic and unpredictable world, but that it must deliver value to it. Viewing agility through this lens, it becomes almost inextricable from innovation, since innovation is a manifestation of the behaviours and practices of agility that emphasises tangible outcome delivery. In the Life Sciences, we see innovation in adaptive clinical trial design, allowing the modification of trial parameters to increase efficiency and reduce costs, in the adoption of artificial intelligence and machine learning across a whole gamut of subsectors, and in the advancement of drug repurposing.
Notwithstanding that, much like adaptive decision-making or rapid prototyping, innovation can be considered a concrete manifestation of agility, the interaction between the two is in fact more intricate. Accelerating innovation can in turn improve business agility, in a mutualistic relationship. In a Forbes article from last year, Walt Hearn highlights Netflix as an emblematic case of a business not only surviving the Great Recession of 2007 – 2009, but thriving, by improving overall agility through enhanced innovation. In summary, he proposes three keys to accelerating innovation: harnessing the power of data, optimising R&D, and leveraging partnerships though an open ecosystem approach. Despite the obvious differences between Netflix and a pharmaceutical company, in the Life Sciences, data, R&D, and collaborations are hotbeds of innovation. What is more, with the increasingly blurred boundary between patient and consumer, and increasing need for customer-centric strategy in the Life Sciences, perhaps organisations in the industry could learn a thing or two from a consumer sector company like Netflix.
Equipping leadership
Executive education
We established in this series’ previous two articles how executive education and development programmes can support individuals in cultivating a leadership mindset, as well as bolstering the growth of executives into roles as inclusive and sustainable leaders. Programmes may likewise focus in particular on organisational agility, be this in management processes or, at a macro level, in business-wide innovation. Courses like Harvard Business School’s Driving Organizational Agility later this month are designed to equip leaders to drive an ‘agile transformation’ within their businesses, regardless of their unique strategic direction. An example of a more industry-tailored programme was the short course, Innovating Health for Tomorrow, offered by INSEAD, which sought to develop participants’ understanding of innovation in Healthcare and encourage a radical rethinking of services.
Workshops and training
In the first instalment, I suggested how senior leader attendance at workshops (which often facilitate more rapid learning and at a lower cost, compared to executive education programmes) helps to ingrain through a cascading effect organisational belief in continuous learning. Indeed, Matt Tenney, CEO and host of podcast Business Leadership Today, explores the impact of a learning culture on success. In his reflection on the book Learning Agility: The Impact on Recruitment and Retention by Linda S. Gravett and Sheri A. Caldwell, he notes an important message, that among companies experiencing huge growth, there is a connection between the eventual failure of those organisations and ‘their decision to replace “fresh thinking” with an inflexible adherence to the status quo.’ Learning and thereby adopting novel approaches is the bedrock of innovation, which may take the form of products – like organ-on-chip technology – or processes, like robotic automation in the life sciences research laboratory. Keeping abreast of industry developments through workshops and training events can act as a tailwind propelling leadership momentum and agility, whether in times of crisis or stability.
Rotational assignments
Another way to furnish leaders with what they need to build organisational agility is to nurture their personal cognitive agility. Lia DiBello defines ‘cognitive agility’ as ‘the extent to which an individual revises his or her evaluation of a situation in response to data indicating that conditions have changed’. Often overlooked and undervalued, rotational assignments are a valuable tool for refining this capability, whereby employees are assigned temporarily to a different job, function, project, or department, or geography. These assignments are considered
‘an integral component of top talent development plans at many corporations [that create] an opportunity for companies to provide their executives with an accelerated learning experience that can lead to demonstrable results for both the executive and the company.’
Individuals on assignment must be versatile, adapt quickly to new circumstances, rapidly acquire a breadth of new skills, and deploy prompt problem-solving ability. DiBello elaborates in her chapter in Naturalistic Decision Making:
Given the volatility of markets and the complexity of team decision making in large organisations, we need not be as concerned with the general cognitive ability of today’s executive so much as his or her domain-specific expertise and cognitive agility, which is often associated with the kind of intuitive expertise developed through experience.
One way to provide executives with such experiences is surely through rotational assignments that force them to exercise cognitive agility, that vital capability when it comes to navigating an organisation through upheaval.
In the quest for organisational resilience, four key pillars – attitudes, beliefs, agility, and structures – must be sustained if a business is to thrive. Having examined the ‘attitudes’ component of this framework in the first article in this series, here we look at the importance of weaving the right beliefs into the fabric of an organisation, and how to equip life sciences leaders to implement this approach.
An example: diversity, equity & inclusion
The need for core values and beliefs to underpin meaningful action is a well-established concept, from Kant’s Categorical Imperative to Martin Luther King’s famous statement on the ultimate measure of a man. In a business context, this means embedding the right beliefs to drive forward initiatives that create a strong organisational culture, which in turn contributes to the organisation’s resilience. Diversity, equity, and inclusion are a salient example.
Businesses with higher diversity outperform their peers; those in the top quartile for gender diversity have a +25% likelihood of doing so financially, while those in the top quartile for ethnic diversity have a +36% likelihood of financial outperformance. Furthermore, businesses with robust DE&I initiatives are far more likely to attract and retain top talent. Just one instance of such an initiative are flexible working models for parents. As recent studies have indicated, the Pandemic smashed cultural barriers to working from home which previously existed to parents, and especially to mothers. Leaders who not only adopt a new attitude to hybrid working, but embed within company culture equality for working parents, will see the fruits of organisational resilience.
The same is true when egalitarian beliefs are firmly rooted in a business around ethnicity, sexual orientation, neurodiversity, and beyond. Surveys and field studies conducted last year by the MIT Sloan Management Review, assessing companies with proven strengths in DE&I, have revealed that at the core of successful progress in the space are values (representation, participation, application, and appreciation) which form the basis for transforming the workplace. Such evidence further reinforces the idea that purposeful action and results are best achieved when driven by beliefs.
From a life sciences talent perspective, action may take the form of a shift towards skills-based hiring. When underpinned by a fundamental belief in diversity and accompanying values, skills-based hiring allows life sciences companies to in turn improve on this strategic business aim, in a self-sustaining cycle of diversity excellence. With a 65% white workforce in the life sciences industry, black individuals accounting for only 6%, discovering a broader spectrum of talent is made possible by prioritising aptitude and potential over experience.
Equipping leadership
Executive education
In the last article, we discussed how executive education programmes can help to equip industry leaders to futureproof their businesses, including by addressing leadership mindset. Indeed, inclusiveness is increasingly considered a key dimension of successful leadership. Executive courses dedicated to diversity and inclusion bolster the growth of executives into their roles as inclusive leaders who can build these values into their organisation, developing and executing comprehensive DE&I strategies.
In the same vein, senior leaders can enrol on executive education programmes focussed on sustainability, learning how to translate into business action the fundamental belief in environmental protection, positive ecological impact, and an equitable future for all. Most, if not all, sustainability issues are business issues; matters like climate change and women’s empowerment belong not merely in standalone sustainability discourses, but in boardroom discussions, informing resilient business strategies.
Today, leading life sciences companies are looking at sustainability not only as a compliance requirement but also as a source of value to their patients, their organizations, and the planet.
Mentorship
Compared to our other three pillars of resilience, beliefs are much more human and personal. Even when adapted into a business setting, beliefs remain quintessentially subjective and identity-rooted. Mentorship therefore lends itself well to equipping leaders to embed the right beliefs into their organisation.
The wisdom of a one-to-one, mentor-mentee relationship is conveyed and absorbed differently than content from an executive programme or even a workshop; two-way communication, a close relationship, and weighting toward real-world relevance can allow for a more profound and meaningful understanding of beliefs and values and a mentor can offer guidance on how these have shaped business decisions and practices. She then has the opportunity to reflect, learn from her mentee’s perspectives, and ‘give back’, in a deep learning experience for both parties.
Christian Dimaano, former Executive Director, Head of Regional Medical Affairs at Mirati Therapeutics, proposes tips for finding a mentor in the Life Sciences. These can be distilled down to three steps: making full use of personal networks, seeking a mentor committed to one’s success, and being open and authentic in one’s approach. Mentorship relationships are often organic, both cross-institutionally and within the same organisation. But, without relying exclusively on this path, how can talent leaders facilitate high-quality mentoring? They can evaluate the right types of mentorship programme for their organisation’s needs and for different situations. Types of relationship to consider may be:
Traditional mentorship
Reverse mentorship (when the less experienced employee mentors someone more experienced in their field)
Group mentorship (more cost-effective and relaxed)
Virtual mentorship (which complements hybrid and remote working)
Peer-to-peer mentorship (which builds camaraderie and strengthens team dynamics)
Sponsorship (helpful for underrepresented groups)
Onboarding mentorship
When intelligently designed with defined parameters and objectives – in this case, around values and beliefs – such programmes are an invaluable tool for building resilience more authentically.
Even when adapted into a business setting, beliefs remain quintessentially subjective and identity-rooted.
Research shows 87% of candidates will join an organization purely on culture fit, three quarters of candidates will research a company’s reputation before applying for a job and 50% will refuse to work for a company with a bad reputation.
With the talent gap widening, skills in short supply, and the war for talent raging on, a strong, articulate, and distinguishable Employer Brand is arguably more important now than ever.
How can organisations create a tailored, segmented and effective Employer Brand that attracts and engages top talent? I explain in my Catalyst article here.
Four out of five (80%) of pharmaceutical manufacturing facilities are struggling with skills mismatches.
Life sciences has some significant challenges at the moment. As Deloitte says, we’re going from doing digital to being digital. We have all these roles to fill that two years ago didn’t exist. We also know that in five years’ time, there will be more jobs to fill that we currently have no idea about.
So where do we find the people needed to fill these roles?
I spoke with Georgia Pink, an analyst and senior event producer at Hanson Wade, which curates the LEAP HR’s Life Sciences global conferences. We explored artificial intelligence, strategies for growth, employer branding, skills-based hiring, internal mobility, data analysis growing talent pools and being optimisitic about the future.
