What's Happening?
Talent acquisition leaders in the pharmaceutical industry are shifting their recruitment strategies to focus on internal mobility and collaboration. This change is driven by the need to support workforce development amid industry restructurings and layoffs. Rowena Vinci, Global Talent Acquisition Leader at Pfizer, emphasizes the importance of retaining talent through proactive internal recruitment rather than relying solely on external hiring. Similarly, Katie Gentry from Bayer discusses the implementation of a dynamic shared ownership model that empowers employees to make decisions that best serve patients. Both companies are leveraging technology to match employees with suitable roles internally, thereby reducing costs and improving workforce morale.
Why It's Important?
The shift towards internal mobility in the pharmaceutical industry reflects a broader trend of companies seeking to optimize their workforce amid economic challenges. By focusing on upskilling and reskilling, companies can retain valuable talent and reduce the costs associated with external hiring. This approach not only supports employee development but also enhances organizational agility, allowing companies to respond more effectively to changing business needs. The use of technology in talent management further enables companies to match employees with roles that align with their skills, fostering a more dynamic and adaptable workforce.
