What does it take?To attract, retain and engage the right talent, biopharmas need to build and deliver a superior employment deal.

1.5 times as likely to report achieving financial

performance significantly above

their peers

Less likely to report having difficulty

attracting and retaining employees — particularly those

in key segments

3 times as likely to report

their employees are highly engaged

Companies with a superior deal are:

towerswatson.com

An Improved Employment Deal — The Key to Attracting

and Retaining Biopharma Talent Biopharma-Specific Insights From the 2014 Global Workforce, and Talent Management and Reward Studies

58% of biopharmas are

having more difficulty retaining critical-skill

employees than in the past.

Over half are experiencing

problems retaining high-potential and

top-performing employees.

Fewer than

4 in 10employees in biopharma are

highly engaged.

Retention risks are high globally, and it’s at least 30% more difficult to retain key talent in developing markets.

Are you prepared?It’s been a banner year for new-product approvals. Are you equipped to capitalize on the momentum?

4in5biopharmas

are experiencing more difficulty attracting workers with critical skills than they have in the past.

And over 70% are having problems attracting high-potential and top-performing employees.

Communicating and Delivering

Only 44% of employees in biopharmas say their communications around the employment deal are focused on discussing how programs meet employees’ needs.

Only 45% of employees say their organizations are living up to their promises in the deal.

The Employee Value Proposition

To develop a superior employment deal, companies need to properly create, differentiate, communicate and deliver the employee value proposition (EVP). But some biopharmas fall short in several key areas.

Building the Fundamentals

Only 39% of biopharmas are measuring employee satisfaction with talent management programs.

DifferentiatingEmployers don’t always understand the reward elements that employees value, making it difficult to create a differentiated deal.

Job security — #3 Trust in leadership — #4 Developmental opportunities — #7

Health care — #6 Job security — #7 Challenging work #4 #2 Developmental opportunities #7 #5

TopAttraction Drivers

TopRetention Drivers

Biopharmaemployer

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Biopharmaemployee

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Biopharmaemployer

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Biopharmaemployee

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Next stepsConsider the following steps to improve your organization’s employment deal:

• Focus on the fundamentals that every organization needs: job architecture and job leveling, competencies, technology, and measuring costs and satisfaction.

• Align talent and reward programs with key drivers of attraction, retention and engagement within the biopharmaceutical industry: effective delivery of base pay and annual incentives, career management, effective leaders and managers.

• Leverage the accelerators — strategies that can take your performance to the next level: effective communication, strategic alignment of programs, workforce segmentation and a consumer-like employee experience.

Source: 2014 Towers Watson Global Workforce Study, and 2014 Towers Watson Global Talent Management and Rewards Study

Want to learn more? Contact your local Towers Watson consultant.