As the door closes on the old model of one-size-fits-all medicine and opens to the new model of personalized care, the demands on executive leaders are rising. Dramatic restructuring, due to growth, new technologies and acquisitions, is forcing executives to prepare for a different future, making common leadership qualities no longer acceptable.
Chartering this new ground requires a much more evolved executive. As an executive search firm specializing in personalized medicine, we are expected to identify candidates as unique as a DNA strand for our clients. Today’s leaders must possess an uncommon repertoire of expertise, knowledge, and experience. Executives are now required to adapt to new strategies to position their companies and their teams for success, and not rely upon previous business strategies. Executives who cannot overcome challenges, are resistant to change, and lack employee engagement strategies are considered outdated leaders. Evolved executives with a participative management style, straightforward communications, and the ability to manage high-performing teams are in high demand, making the talent shortage even more acute. To bridge this leadership gap for our clients, we provide access to a comprehensive network of respected leaders who welcome the challenges that organizations face today.
As reported in Deloitte Consulting’s recent survey Talent Edge 2020, one key and surprising finding is that high unemployment rates have not generated the talent surpluses many executives expected. On the contrary, many executives predict talent shortages across key business areas, particularly those needed to drive innovation and growth as the rising workforce is either inexperienced or heading towards retirement.
“The talent paradox of having an abundance of willing workers but a shortage of people with the necessary and desired skills is expected to pose significant challenges for companies competing in the global marketplace. Those that wish to succeed must devise new strategies for getting the right talent in the right place at the right time,” Jeff Schwartz, principal with Deloitte Consulting LLP, wrote in his article, “Talent Management for the ‘New Normal’.” In the area of research and development, he noted, “nearly three in four executives (72 percent) surveyed predict talent shortages . . . and more than half (56 percent) of respondents anticipate shortages in executive leadership.”
The increase in executive-level opportunities in the personalized-medicine field is evident in our clients’ increasing requests to fill chief executive officers, chief financial officers and vice presidents in the areas of sales and marketing, research and development, operations, regulatory affairs and clinical development in spite of the recent economic downturn.
But not every company has a robust, cross functional leadership team comprised of today’s evolved executives who will implement leadership strategies and practices to cultivate high-performing organizations. In many instances, we recommend multiple executive hires with a unique combination of characteristics and requirements to form a very dynamic team, strengthening the company’s position for success.
To prepare for the future of medicine, organizations must identify innovative leaders who will continue to move them forward. Long-term success can be achieved by creating opportunities for experienced executives to effectively train future generations of executive talent. The evolved leader must refresh their critical leadership strategies, deliver on their word and show the benefits derived from their decisions. Leadership thinker and author Marshall Goldsmith’s famous quote holds true: “What got you here won’t get you there.”
We build exceptional leadership teams for the future of medicine. Sanford Rose Associates® - San Diego is committed to filling Director through VP/C-level executive management positions exclusively in biotechnology, medical device, diagnostic, pharmaceutical and healthcare companies. Sanford Rose Associates® - San Diego is the top performing Life Sciences focused executive search firm within the global Sanford Rose Associates® network, which has 60 offices worldwide and is a member of the International Executive Search Federation (IESF). We can help bring “A-players” to your organization- please contact President and CEO, Robin Toft at (858) 546-4801 (www.sanfordrose.com/sandiego).
