Managing change and transformation will define the life sciences and healthcare organisations of the future
Budgetary pressures, diminishing returns on R&D investment, rapid technological innovation, patient-first engagement and the constant challenge of legislative change and regulatory compliance… healthcare and life sciences are in a state of flux. Whether it is a healthcare service provider battling shrinking budgets and re-imagining patient-care models against the backdrop of a growing and ageing population, a multinational pharma consolidating through mergers and acquisitions, or an agile biotech business carving out a carefully targeted niche, all need the kind of visionary leadership that can drive the innovative change necessary to compete in today’s complex and challenging operating environments.
In such environments, HR must move from a traditional support function to become a business driver. It needs to develop talent strategies that attract, retain and develop the very best leaders. It needs to employ the latest evaluation tools to assess performance and identify talent gaps and areas for development to meet future organisational targets. It needs to engage and empower people to fully adopt business-critical change agendas – whether mergers and acquisitions, the adoption of new technologies or cross-disciplinary collaborations. It needs to implement learning and development initiatives that get the very best out of its people for more efficient, cost-effective working.
Seymour John is a strategic ally for high impact search and selection, talent management and organisation-improvement services in the following industry sub-sectors:
- Medical Devices and Diagnostics
- Healthcare Providers
- Healthcare Services
- Consumer & OTC
- Healthcare Technology
The perrenial pressure for healthcare leaders is the drive to deliver more for less – better quality care with smaller per-person budgets. And a growing and ageing population means demand keeps rising. In a digital world, where consumers are used to accessing products and services across multiple platforms, there is also a drive to leverage the latest technologies to engage with service users in new and innovative ways. Add to this the changes in the way services are commissioned – alongside shifting government led regulatory, legislative and target-driven requirements – and the environment for healthcare service providers is becoming ever more complex and challenging.
It takes very special people to thrive in such an arid environment. Leaders need to be strategic, able to make the tough, often emotive, calls. They also need to be visionary, re-imagining business models to meet the relentless calls for cost savings, greater efficiency and better value. This means exploring new ways of service delivery to meet ever-increasing demand. The new frontier for many legacy healthcare providers is the attraction of digital change-makers. As a result, competition is high for the best Chief Information, Chief Digital and Chief Information Security Officers.
In both life-sciences and healthcare, talent acquisition has become fundamental to organisational Dynamic, innovative and strategic leaders are needed across a diverse range of specialties from chief scientific officers and digital-change makers to finance, compliance, fundraising and HR.
In a highly regulated, complex, fast-moving sector, change, and an organisation’s ability to implement it, is defining success. Pressure on pricing, ambiguity over patents, regulatory changes and an increase in collaborative R&D working, to reduce costs and mitigate risk, are all pressing issues for today’s life-science leaders.
Patient engagement and data analytics are changing the way pharmas are doing business. Companies are eschewing traditional top-down, transactional approaches and moving towards collaborative, patient-first models in a bid to mitigate risk, drive commercial success and ensure regulatory compliance and commissioning. From clinical trials to ongoing monitoring and feedback, patient engagement is becoming a valuable resource. In this ‘new’ healthcare environment, it is patients, not clinicians who hold the key to success. As drugs become increasingly niche targeted, prices are inevitably rising and value questioned. Pharmas need patient advocates, as proof of value is becoming increasingly patient-benefit driven.
Often when organisations adopt new ways of working, there is a disconnect between aspiration and realisation. Those that are succeeding are the ones who are attracting, retaining and developing the best leaders to execute – those rare individuals who are able to turn innovative, strategic vision into transformative business reality.
At Seymour John, we understand the complexity of the business and regulatory environments in which our healthcare and life-science partners operate. From talent attraction (Finance, Regulatory, Change, Technology and Executive), retention and development to change and transformation initiatives, check out our core competencies, on the right, to read in more detail about how we help them create a competitive advantage.