Pharmaceutical companies have to expand their reward schemes to retain their
talent, warns a report by PricewaterhouseCoopers.
The Future of Pharma HR report shows that more pharmaceutical employers are
offering high performing employees share option schemes, and that it is
critical to retention.
Talented staff are also demanding rapid career development and HR teams are
having to offer flexible career paths.
Martin Ferber, director of research personnel Europe for Pfizer, said,
"We can see an increasing shortage of talent and are constantly reviewing
our reward packages."
In Europe, pharmaceutical firms will continue to have problems with
recruitment and retention and will have to start looking further a field. The
study claims the biggest pools of talent will be based in emerging countries
with good educational systems.
Kevin Delany, co-author of the report and a PwC consultant, advises the
sector’s HR professionals to become more involved in merger and acquisition
strategy to aid staff selection.