The pharmaceutical industry is undergoing a sea change that industry insiders have dubbed Pharma 3.0. One of the most important elements of this industry-wide shift is the fight for top talent. The reason? Those companies that are successful in attracting this top talent will be well-positioned to meet the unique challenges faced by the industry.
Universum has released an eBook that explores what Pharma 3.0 means for the healthcare industry, offers real data on what students expect from a pharmaceutical employer and illustrates why innovation is fundamental to any successful hiring strategy. Here is what you need to know about these important findings and how Universum can help your company’s branding.
Demand for healthcare services and products is being fueled in many different ways. The growing middle class in developing nations means new market opportunities, while an explosion in aging populations means healthcare is more important to people and governments than ever.
At the same time, chronic diseases such as diabetes and obesity have not only become more prevalent, but are expected to rise in coming years. All of these developments place enormous pressure on the industry. That’s why an intelligent and forward-thinking workforce is needed to create a pharmaceutical industry agile enough to adapt to Pharma 3.0.
Pharmaceutical and healthcare companies realize that they need to implement new methods of doing business. That means using social media skills, collaborating with tech companies and providing a customer segmentation experience. Often, millennials are well-positioned to implement the solutions that Pharma 3.0 demands.
Universum’s survey on university students who plan to work in the pharmaceutical industry has important implications for HR marketing and employer branding approaches. For example, millennials indicate that one of the most important factors for them is a work-life balance. However, this concept doesn’t mean hours worked, but rather working for a company that offers respect, recognition for one’s work and a sense of meaning.
It’s important to not only understand these desires, but also demonstrate a pharmaceutical company’s value through each step of the recruitment process.
Universum has found that students across all markets prize innovation as the most attractive quality in a future pharma employer.
However, the fight for top talent is harder than ever before, especially with companies like Apple, IBM, and Google delivering forms of innovation that appeal to top millennial students.
While there is no doubt that biotechnology and pharma produce some of the most important innovations of our time, longer R&D cycles and tighter government regulations are the norm. That’s why the key challenge for pharma is translating the good the industry provides for people around the world.
Why is this so important? Ultimately, demonstrating this value aligns with millennial recruitment goals. Millennials report that working toward a good cause is one of their primary desires for entering the pharmaceutical industry. As a result, being able to tie innovation into the good that pharmaceutical and biotechnology can deliver has the potential to draw exactly the type of talent needed.
The pharmaceutical and biotechnology industries are extremely important to Switzerland and make up a significant share of the country’s economic growth. Like many other economic sectors of the country, Switzerland is leading the way when it comes to diversity. For example, Roche employs 80,000 people from over 130 countries and over 75 nationalities.
Not only do millennials want to work for diverse companies, but companies draw on this diversity to venture into new markets, improve R&D results and increase scientific productivity. That’s why it’s important for companies to consider the story of the Swiss as they move forward.
To find out more about Pharma 3.0 and the challenges of recruiting top talent, download Universum’s eBook. It’s full of data, insights and information about how Universum can help your company build the right road map for Pharma 3.0.