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Getting More from Less: A New Perspective on Asset Management

November 21, 2013

by David Nolan

talent management in the pharmaceutical industry

Developing assets through our pipelines is the key objective for the R&D leaders in life science organisations. We create a plan and invest (hopefully wisely) in pursuit of delivering the next milestone. We choose very carefully the assets in which to invest, based on return on investment and meeting unmet needs in the market. We monitor progress closely.

While drug development is a complex process, the concept is a simple one: invest and develop the assets most likely to deliver the greatest return.

If I had a penny for every time I’ve heard the phrase “our greatest asset is our people”, I would be a very wealthy man. Yet recent research by Zircon Management Consultants identified that as many as 50% of global organisations interviewed do not have a clear definition of talent, or a clear talent strategy for the future. The HR leaders that have a clear ‘Talent Agenda’ are a key driving force behind making good companies great. Unfortunately, I observe the HR leaders that do not have such an agenda spending most of their time defending their position and complaining about the lack of resources. Thankfully, I spend most of my time working with the former!

Unlocking the potential in your mid to high performers is the simplest way to deliver more with fewer resources. This strategy has the benefit of creating more engagement amongst your highly valued workforce. It will also create a happier workforce of highly skilled people who are committed to your company and can see a bright future ahead.

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