There’s a lot of discussion about Gen Z and the impact they will have on the workforce. The Wall Street Journal reports that they seek financial stability and are industrious. Inc. Magazine tells us they are culturally diverse and risk averse. Forbes says that they want to be judged on their own merit and they want to work with autonomy.
In every work environment you’ll hear talk of teams. Teams are formed deliberately and carefully to achieve the objectives and goals of an organization.
Many of us are part of multiple teams—a core team, plus at least one cross-functional team. In our work with many Fortune 100 companies, we know that the best teams all possess the same secret for success: a leader who knows how to create and lead a high-performing team.
Pharmaceutical companies have been talking about patient-centricity for years.
Yet, many pharma companies find it challenging to make patient-first thinking a pervasive trait throughout their organization.
In its simplest terms, creating a patient-centric culture is about being authentic and open in communicating to patients, taking care to understand their needs, and giving them a voice in the management of their care. Patient-centricity simply requires putting the patient first or being empathetic to their story.
In Part 1, we showed how your current leaders are an essential asset in filling your leadership pipeline. We also introduced the Five Critical Capabilities needed by current leaders to develop upcoming leaders. In Part 2, using a real case study, we took a deeper dive into those Five Critical Capabilities: strategic talent mindset, talent identification skill, creating development opportunities, coaching skills, and interpersonal awareness.
Here, in Part 3, we discuss how to ensure the health and strength of your pipeline, by answering three questions:
- What is the status of your leadership pipeline?
- Is senior leadership aligned and bought in?
- Are key organizational levers aligned to create a culture that accelerates leadership development?
From our quarter-century experience in consulting with HR executives to help their leaders, here are the important things to consider in each question.
In Part 1 of our series, we explained that your company’s long-term strategic advantage relies on current leaders to develop future leadership talent. We identified Five Critical Capabilities that leaders must demonstrate: strategic talent mindset, talent identification skills, creating development opportunities, coaching skills, and interpersonal awareness.
Here, in Part 2, we present the remarkable story of how one HR executive leveraged those five talent-development capabilities with leaders to expand their severely restricted leadership pipeline.
Your company’s long-term strategic advantage relies on strong leadership to align people, execute strategy, clearly define the culture, and engage all employees. But as Baby Boomer leaders rapidly retire, most of their collective leadership experience — often 30 to 40 years’ worth — is out the door.
Pharmaceutical sales organizations are extremely diverse and have multiple generations represented in them – from baby boomers (born 1946-1964) to Generation X (born 1965-1980) to millennials (born 1981-2000). There are big differences between the generations, including different expectations and preferences when it comes to how they communicate, how they want to be managed, what they are looking for in a job, and how they approach their work. There are also things that the generations have in common.
As a leader, it’s important to be able to flex your style to meet the needs and expectations of all of your employees.
One of the questions you should ask is: How can I tailor my approach according to generational preferences and help meet individuals’ expectations to ensure an aligned, engaged and productive pharmaceutical sales team.
Try the following four strategies to harness the power of a multigenerational workforce.
Change leadership is critical to your pharmaceutical sales results because of the acceleration of change in today’s pharmaceutical sales organizations. Change has evolved over the years from leaders just managing the change to leaders needing a full set of change skills and capabilities.
Change is no longer an event; it is a constant for organizations, and pharmaceutical sales representatives are looking to their leaders to help them navigate the flurry of change and to understand how to harness it to produce profitable performance.
In today’s environment, companies are heavily engaged with multiple, constant, concurrent and rapid changes impacting their pharmaceutical sales force.
Many companies boast about their cultures of innovation. They incorporate creativity and openness into their mission or values statements. They reward employees for new insights and ideas. They hire and promote for innovation. Yet despite such measures, they find that their teams remain stubbornly locked in place, struggling to generate new ideas and to execute even minor change initiatives.
Is your company stormproof?
The storm I’m talking about isn’t a tornado or hurricane, but rather a “perfect storm” in the battle for talent. A tightening labor market combined with baby boomer retirements is adding up to significant talent gaps at many companies. Younger workers are often not ready to take over in leadership positions. Meanwhile, they are becoming frustrated with perceived shortfalls in the leadership development opportunities available at many companies.