Workforce of the Future: How Emerging Leaders are Shaping the Life Sciences Industry
Emerging Leaders (EL) within the pharmaceutical industry have been invited from around the world to participate in the 2022 ISPE Annual Meeting & Expo Program Committee. This unique opportunity allows up-and-coming industry leaders a platform to facilitate change, exchange ideas, and connect with current global leaders to learn from their pharmaceutical knowledge. In addition to the keynote presentations from industry and regulatory leaders from organization such as Takeda, Pfizer, or FDA, we take a deep dive into the five content areas: Digital Transformation, Manufacturing Trends, Regulatory and Quality, Supply Chain Optimization, and Therapy Innovations. We finish with one of our conference highlights – the Global Regulatory Town Hall – on Wednesday, November 2nd. The regulatory panel was strategically selected to discuss viewpoints of global regulatory authorities and efforts that could be made to harmonize globally to accelerate the approval and supply of ATMPs and other life changing medicines and therapies for patients. In-person attendance of regulatory professionals will prove to be immensely valuable for conference participants.
Emerging Leaders are encouraged to attend not only the educational sessions but also the international hackathon taking place the weekend prior to the event. The main objective of the Hackathon is to “divulge knowledge, in an innovative situation, on the trending topics of the pharmaceutical sector, and to provide and promote networking opportunities between Emerging Leaders, Students, and Senior Industry Experts.” Emerging Leaders are an ambitious workforce focused on continuous development with a desire to grow in their careers and seek mentorship opportunities to learn. ISPE continues to provide them a great platform to develop their skillsets beyond their traditional roles with initiatives such as ISPE Women in Pharma® Mentor Circle program and Emerging Leaders involvement in the 2022 ISPE Annual Meeting & Expo Planning Committee.
With emerging leaders making up one-third of the workforce, they play an important role in the industry’s success.
Emerging Leaders are critical as the industry is facing a workforce shortage and struggling with employee retention rates. The Deloitte 2022 survey found that organizations with good work-life balance and lifelong learning and development opportunities are the top attraction for emerging leaders. Managing, attracting, and retaining these young leaders has been a top priority for many organizations. The pharmaceutical industry is facing the same challenge. With the unprecedented growth in the pharmaceutical industry in the last few years, employers are unable to fill their open positions. This results in short-staffed teams that continue to feel the strain to address their shifting job priorities. To avoid employee burnout and reduce employee turnover, the industry needs to evolve with its changing employee expectations.
Today’s workforce, particularly Emerging Leaders, expect organizations to implement new strategies to improve employee engagement experience and explore new leadership styles to adapt to the changing generations. This expectation means the leadership teams need to transition from the traditional management system, namely top-down, to a more horizontal and flexible structure where the decision-making process is shared. Managers need to ensure they provide their teams with training and education programs and clear growth opportunities. Emerging Leaders would like to be involved in the organization’s strategic plan and decision-making process. Some organizations do this well, for example, they have structured reverse mentoring programs whereby senior leaders actively seek the views of the Emerging Leaders within their organization to shape their workforce and business strategies.
The workforce of the future is no longer solely motivated by higher salaries or financial gains. They want more from their jobs. As humans, we are designed to look for a life with meaning and purpose. Emerging Leaders have brought the same outlook into the workforce and expect their employers to deliver these opportunities and experiences. However, the challenge doesn’t end with attracting and hiring talent. In order to retain their workforce, organizations must create solid diversity and inclusion policies and continue to audit their environmental and societal impact. Emerging Leaders are looking for a career with an employer that keeps them engaged, growing, educated, and part of the overall organization. Creating a strong retention plan which takes into account all these factors is not easy. However, it is a strong key asset to ensure a low staff turnover which further reduces the impact on business continuity and profits.
To be an active member in the ISPE as an Emerging Leaders is a unique opportunity and the benefits of the lessons can be significant for personal and professional development. ISPE fosters strong relationships between colleagues in the industry that can help bolster your knowledge and network of resources throughout the industry. Events at local chapters, attending conferences, or participating in Emerging Leaders events such as hackathons/poster competitions are all great opportunities to foster the development of your professional stability. These community engagements are critical to tapping into ISPE’s vast body of knowledge which includes how to deliver manufacturing and supply chain innovation, operational excellence, and regulatory insights to enhance industry efforts to develop, manufacture and reliably deliver quality medicines to patients.
ISPE continues to provide Emerging Leaders with various platforms to build and expand their professional networks. The friends you make, the stories you hear, and the things you learn through ISPE engagement are one of the best ways for Emerging Leaders to find their path to a fulfilling career.
Register for the 2022 ISPE Annual Meeting & Expo to connect with fellow Emerging Leaders, global industry experts, and build your professional network.
