Recruiting the right people is only half the job done. Grooming and managing talent is the greater challenge. Sushmi Dey writes how pharma companies view the connect between talent management, retention, employee engagement and productivity. Pharmaceuticals’ is a business driven by research. Talented people are, therefore, any pharma company’s assets because they are the source of ideas which drives research. Though very few companies have developed specific initiatives, Indian pharma companies have lately recognised the criticality of talent management. Nurturing, recruiting and retaining talent is a vital part of any drug company as there is a proven link between having talented employees and overall business performance. “With attrition as high as 35-40 percent in the pharma industry, Indian pharma companies are now aware and have realised the importance of managing their talent. They are trying to have their talent management strategies in place to manage and retain their best people,” says Ruchelle Dias, Associate Consultant, Interlink Consultancy.
