We frequently hear that there is a talent shortage in the biotechnology and pharmaceutical sectors. This seems to be an across-the-board problem at all levels.
For senior roles, part of your solution may be to tap into more remote or international experts. Whether it’s an expert in another city or in another country, distance is no barrier when it comes to global businesses such as pharmaceuticals. A global talent strategy puts a world of experience at your fingertips.
Senior consultants are very aware of harmonised and disparate regulations across the sector as teams need to focus on, not just developing products for one country, but understanding their second and third target countries too. This creates efficiencies in the development program, avoiding duplication of effort at a later date and improving the offering to potential investors doing their due diligence as part of an M&A or licensing process. Whatever the goal, value add and efficiency are important drivers at each stage of development.
Benefits of a Global Talent Strategy
There are several benefits to using a more globalised team for development and commercialisation. As in any team, diversity can be a real plus.
- Diversity of perspectives to look at the issue from different angles
- Diversity of experience, including from other companies, be they better, worse, or simply different
- Diversity of expertise and ability to tap into experts across a wide range of fields when you need them
- Diversity of thinking in general and “outside the box” suggestions
And consider this… Going external allows you targeted access to experts you wouldn’t be able to, or couldn’t afford to, hire as full time employees. This is a good way of making your development dollar go further, particularly if are able to use experts in other regions such as Asia/Pacific where exchange rate differences can free up some cash for other line items in your project plan.
By tapping into external experts you are also accessing their networks. This often leads to a rethink on service providers such as non-clinical testing labs and CROs, allowing you to find a better fit for your product development needs.
So, don’t limit your company to the talent pool within easy driving distance of the office. Instead, get an edge over your competitors. There is a world of expertise out there to be had, just connect.
How We Can Help You
TudorRose Consulting has global reach, across 90 countries, through our network of trusted partners.
With networks into Asia, Western and Eastern Europe, North, South and Central America, the Middle East and Africa, in addition to our Head Office in Melbourne, Australia, we provide a team that is highly experienced in international product development and commercialisation.
For a confidential discussion on how we can deliver efficiencies and help you drive your development dollar further, contact us today.