Pharma Industry Needs to Identify, Retain Talent: Experts

Mumbai: The domestic pharmaceutical industry, which has been growing at a steady pace, faces the challenge of identifying the right talent and retaining them for long-term, according to experts.

"The pharmaceutical industry in the country has fuelled employment opportunities across all functions, including research and development, sales and marketing, finance, project management and supply chain."

"However, identifying the right talent for every role and retaining them over the long-term remains a significant challenge for the industry," Shailesh Ayyangar, president of the Organisation of Pharmaceutical Producers of India (OPPI), said at a human resource summit in Mumbai.

Mr Ayyangar, who is also pharma company Sanofi's managing director-India, and vice president-South Asia, said innovative talent development programmes, along with competency and skill development workshops are the need of the hour to harness young talent.

Echoing similar views, Ajay Bhatt, regional HR director at Abbott India, said, "It is only when the talent can see a clarity of role, a clear career path and more importantly feels valued, that they find fewer reasons to leave."

The onus is on business leaders and HR managers to provide this clarity and create a participative environment, he added.

There is a need for quality workforce, for which the industry should collaborate and coordinate with academia, he said.

"The industry, that exports drugs to more than 200 countries across the globe, needs to coordinate more with the universities not only to enhance the quality of courses but also to keep the academia updated on the industry needs."

Experts feel that there is a need for significant investment in continuous skill upgradation, which will go a long way in talent retention.