Although
the Indian Pharma industry has not been affected by the global economic
situation, several sub-sectors within this industry are faced with some
tough times leading to interesting trends. Kanchana Dwarakanath of TimesJobs.com in conversation with Rahul Nene, Partner, DEININGER Management Consultants Pvt. Ltd
What is the current HR scenario in the Pharma segment?
The Pharma segment has been by and large protected from the global economic scenario. Maintenance based by way of natural attrition still continues in this segment. Healthy growth by top ten pharma firms (their market capitalization increased year on year) indicates robust business needs, translating to stronger human capital needs.
The world’s top generic firms continue to consolidate by way of adding capacity in India. With these factors growth in jobs is expected across functions with sales being the leader at manager and entry level hiring.
- See more at: http://content.timesjobs.com/interview-of-the-day-niche-expertise-and-closed-networks-keep-everybody-else-out-in-pharma/?fromsite=toi&utm_source=toi&utm_medium=referral&utm_campaign=toi-tj-whitelabel#sthash.g0TR2JDc.dpuf
What is the current HR scenario in the Pharma segment?
The Pharma segment has been by and large protected from the global economic scenario. Maintenance based by way of natural attrition still continues in this segment. Healthy growth by top ten pharma firms (their market capitalization increased year on year) indicates robust business needs, translating to stronger human capital needs.
The world’s top generic firms continue to consolidate by way of adding capacity in India. With these factors growth in jobs is expected across functions with sales being the leader at manager and entry level hiring.
- See more at: http://content.timesjobs.com/interview-of-the-day-niche-expertise-and-closed-networks-keep-everybody-else-out-in-pharma/?fromsite=toi&utm_source=toi&utm_medium=referral&utm_campaign=toi-tj-whitelabel#sthash.g0TR2JDc.dpuf
‘Niche expertise and closed
networks keep everybody else out in Pharma’
Although the
Indian Pharma industry has not been affected by the global economic situation,
several sub-sectors within this industry are faced with some tough times
leading to interesting trends. Rahul Nene, Partner, DEININGER Management
Consultants Pvt. Ltd
What is the
current HR scenario in the Pharma segment?
The Pharma
segment has been by and large protected from the global economic scenario.
Maintenance based by way of natural attrition still continues in this segment.
Healthy growth by top ten pharma firms (their market capitalization
increased year on year) indicates robust business needs, translating to
stronger human capital needs.
The world’s top
generic firms continue to consolidate by way of adding capacity in India. With
these factors growth in jobs is expected across functions with sales being the
leader at manager and entry level hiring.
However one
sector which I believe has been impacted negatively is the hospital and
healthcare segment primarily due to financial issues faced by them. The global
economic gloom and doom has arrived at their footstep and the sudden
mushrooming of medical tourism as a concept has led to supply exceeding demand,
especially with respect to luxury hospitals. Hence hiring has been put off by
several players, and workload for the existing employees has almost doubled.
Clinical
research remains in a muddle due to the regulatory issue,and growth here seems
to remain negative.
How has the
global economic scenario affected these segments in the last six months?
Pharmaceutical
sector remains insulated to short term economic indicators. However, funding
options for research firms and R & D centers have reduced considerably
leading to either merger of such ventures or even close downs. This has
had an impact on the HR scene, resulting in job loss or working on a single
aspect of the project on a much smaller budget, which is a tough thing to do as
expected short-time delivery/result projects tend to get priority.
What are the
challenges faced at different levels of recruitment?
Overall hiring
has been broadly impacted, although not to the extent that other industries
have been facing. At different levels:
Fresher hiring
is healthy although there is a big wide gap between theoretical learning and
practical application. In fact,I would say there is no focus yet on
knowledge and understanding of concepts. Of course all of these do not apply at
all to graduates from reputed institutes, but the problem is these form only
about 0.1 % of the entry level employees.
The Mid segment
continues to have demand. Compensation however is decide based on hands on
experience than simply on the years of experience. The trend we have noticed is
several moves have been circular with people coming back to their one time
employees for jobs.
The effect on
the C-level is by and large much less as compared to other industry sectors
primarily because this industry segment is intrinsically conservative and
niche.
The pharma
segment has its own model of hiring. Has there been any impact of the tight
market situation on it?
There are some
key features of this industry that are impacting hiring. Although more so
today. Top level connect with employees is much higher in this segment which
sometimes acts as a deterrent for non-tech employees from entering this
segment.
Also,firms in this sector have increased
multiple-level engagements within as well with each other. Coupled with this
factor is the fact that niche sectoral expertise keeps everybody else
out. Thus often even though there is a dire requirement for
non-research/tech skill, the chances of these companies obtaining the best are
rare
What is the current HR scenario in the Pharma segment?
The Pharma segment has been by and large protected from the global economic scenario. Maintenance based by way of natural attrition still continues in this segment. Healthy growth by top ten pharma firms (their market capitalization increased year on year) indicates robust business needs, translating to stronger human capital needs.
The world’s top generic firms continue to consolidate by way of adding capacity in India. With these factors growth in jobs is expected across functions with sales being the leader at manager and entry level hiring.
However one sector which I believe has been impacted negatively is the hospital and healthcare segment primarily due to financial issues faced by them. The global economic gloom and doom has arrived at their footstep and the sudden mushrooming of medical tourism as a concept has led to supply exceeding demand, especially with respect to luxury hospitals. Hence hiring has been put off by several players, and workload for the existing employees has almost doubled.
Clinical research remains in a muddle due to the regulatory issue,and growth here seems to remain negative.
- See more at: http://content.timesjobs.com/interview-of-the-day-niche-expertise-and-closed-networks-keep-everybody-else-out-in-pharma/?fromsite=toi&utm_source=toi&utm_medium=referral&utm_campaign=toi-tj-whitelabel#sthash.g0TR2JDc.dpuf
The Pharma segment has been by and large protected from the global economic scenario. Maintenance based by way of natural attrition still continues in this segment. Healthy growth by top ten pharma firms (their market capitalization increased year on year) indicates robust business needs, translating to stronger human capital needs.
The world’s top generic firms continue to consolidate by way of adding capacity in India. With these factors growth in jobs is expected across functions with sales being the leader at manager and entry level hiring.
However one sector which I believe has been impacted negatively is the hospital and healthcare segment primarily due to financial issues faced by them. The global economic gloom and doom has arrived at their footstep and the sudden mushrooming of medical tourism as a concept has led to supply exceeding demand, especially with respect to luxury hospitals. Hence hiring has been put off by several players, and workload for the existing employees has almost doubled.
Clinical research remains in a muddle due to the regulatory issue,and growth here seems to remain negative.
- See more at: http://content.timesjobs.com/interview-of-the-day-niche-expertise-and-closed-networks-keep-everybody-else-out-in-pharma/?fromsite=toi&utm_source=toi&utm_medium=referral&utm_campaign=toi-tj-whitelabel#sthash.g0TR2JDc.dpuf
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