Learnings from CHRO’s and CEO’s of 15+ Pharma organizations in a closed room discussing about streamlining productivity, maintaining talent and reducing costs in the sector.
EXCELLENCE IN PHARMA THROUGH
TALENT AND TECHNOLOGY
The 'CHRO Dialogue' was all about free-flowing ideas, sharing of experiences and learnings by the CHROs from competing organizations.
The aggregated knowledge that got generated has the potential to propel the whole sector forward. Thus, through this report you have the opportunity to align your talent & technology strategies and fulfil the greater organisational goals.
LEARN FROM THE WHO’S WHO OF
THE PHARMA SECTOR
I’ll add an outside perspective. When I was working at Reliance, we were aiming for digital manufacturing and high levels of automation which significantly increased the process efficiency and productivity.
I feel that even in the pharma space there is a huge scope for automating our processes and leveraging digitization while moving away from traditional approaches. But as a sector are not doing enough to drive this.
JOINT PRESIDENT & CHRO
In mergers like Idea & Vodafone which are primarily survival focused, the entire focus is on aspects like optimizing and managing the assets efficiently. A substantial amount of effort also goes into merging data warehouses and keeping the data privacy.
At the current stage, culture integration may not be the priority. It is always important to keep the context of the merger and business continuity in mind and act accordingly.
When GVK Bio acquired a US firm with large molecule capabilities 4 years ago, a conscious decision was made to not integrate the cultures right away and let them function independently.
We understood that difference in cultures existed and at that stage, it was best not to integrate. 4 years later when a level of maturity and capability was attained, we were successfully able to integrate both organisations and the leadership played a critical role in enabling this.
SVP & HEAD - HR
It is a fact that most of the organizations today, understand the benefit of talent to value in practice and they do follow this approach too but it is done informally.
It is time to sensitize our leads at all levels, i.e. the line managers, functional heads and other senior org leaders towards the benefits it can bring to the organisation. We need to develop the understanding that it is one of the best ways to utilize our resources.
Compliance is hygiene and a given. If you’re not compliant you do
not have the right to be in business. It’s not a differentiator.
Differentiation comes from processes and practices that improve productivity, quality and cost.