What is the story about?
What's Happening?
Talent acquisition leaders in the pharmaceutical and biotech industries are shifting their recruitment strategies to focus on internal mobility. Companies like Pfizer and Bayer are implementing new models to retain talent by upskilling and reskilling employees, reducing reliance on external hiring. This approach aims to support workforce development and improve morale while leveraging technology for efficient job matching.
Why It's Important?
This strategic shift is crucial for companies facing restructurings and layoffs, as it helps retain valuable talent and reduce costs associated with external recruitment. By focusing on internal mobility, companies can enhance employee satisfaction and loyalty, ultimately contributing to a more agile and resilient workforce. The use of technology in talent management also reflects broader industry trends towards digital transformation.
What's Next?
Talent acquisition leaders will continue to explore innovative strategies to support internal mobility, potentially influencing broader industry practices. Upcoming conferences, such as LEAP TA: Life Sciences, will provide opportunities for knowledge sharing and collaboration among industry leaders, fostering further advancements in talent management.
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