Report Summary: Benchmarking R&D and Clinical Talent Development Initiatives: Benchmarking Report

STUDY OVERVIEW
BENCHMARK CLASS
STUDY SNAPSHOT
KEY FINDINGS
VIEW TOC AND LIST OF EXHIBITS

For report summary, click "Download FREE Excerpt" on right.

An effective research and development (R&D) function is integral for organizations seeking to quickly transform innovative ideas into exceptional products and services that give a competitive edge. And, at the end of the day, an R&D function is only as good as its people.

Learning and Development groups within R&D are vital for designing an effective talent development program for its employees to increase overall productivity, drive performance excellence and retain key talent.

Best Practices, LLC conducted this benchmarking research to identify the key tactics and strategies utilized by top pharmaceutical and technology companies to align their Learning and Development function within R&D with corporate objectives, to measure effectiveness of talent development initiatives, and to improve talent retention and development. This report also examines current and future challenges for R&D talent development. Learning and Development leaders from pharma and technology companies can refer to this report to benchmark their talent development program and initiatives against industry standards.

Industries Profiled:
Medical Device; Biotech; Internet; Retail; Pharmaceutical; Research; High Tech; Manufacturing; Health Care; Technology; Biopharmaceutical; Clinical Research; Laboratories

Companies Profiled:
Alcon; Amazon.com; AstraZeneca; Baxter Healthcare; Bersin; Facebook; IBM; Johnson & Johnson; Juniper Networks; Novartis; Otonomy; Pfizer; Sanofi; Teva Pharmaceutical Industries Ltd

Study Snapshot

Best Practices, LLC engaged 18 Human Resources, R&D and Engineering leaders from 15 leading pharmaceutical and technology companies through a benchmarking survey instrument.

Key topics covered in this report include:

Talent Development Strategy
Talent Development Processes
Talent Development Programs and Initiatives
Talent Development Challenges
Profiling Talent Development Teams

Key Findings

Sample key insights uncovered from this report are noted below. Detailed findings are available in the full report.

Who is Accountable: Only about half of companies have talent development groups assigned solely to R&D. To a large extent, talent development falls on R&D leadership. Overall, a majority R&D leaders are able to allocate less than 10% of their work time on the talent development of their staff. Even less time is left for leadership’s own personal development. Leadership at technology companies tends to allocate more time on talent development across the board. Transparency with staff about their future potential also tends to be poor at most benchmark companies.
Critical Talent Development Programs: Coaching and internships are among the most widely used R&D talent development programs. Despite their popularity, though, internships are rated less effective than a wide range other talent development approaches. Rotational development is used only by half of benchmark organizations.

Table of Contents

I.	Executive Summary	pgs. 3-9
	Study Structure and Design
	Benchmark Class
	Key Findings and Recommendations
II.	Talent Development Strategy and Implementation	pgs. 10-16
	Culture, Transparency and Alignment with Corporate Objectives
	Role of Senior Leadership
	Ownership of Talent Development
III.	Embedding Talent Development in Business Processes	pgs. 17-23
	Talent Development Tactics and Strategies
	Talent Development KPIs
	Customizing Talent Development for R&D
	R&D Scientific and Managerial Career Tracks
IV.	Impact of Talent Development Initiatives	pgs. 24-32
	Maturity and Effectiveness of Talent Development
	Current Challenges
	Future Challenges
V.	Participant Demographics	pgs. 33-34
	Structure of Talent Development Team
	Functions Supported by Talent Development Team

List of Charts & Exhibits

I. Talent Development Strategy and Implementation

Assignment of a designated talent development team(s)
Percentage of time spent by benchmark companies’ senior leadership team on their own talent development and that of their staff
Perception of critical talent development dimensions
Perception of senior leadership within benchmark companies

II. Embedding Talent Development in Business Processes

Requirements of personal talent development plans
Customizing R&D talent development approaches
Provision of separate career ladders for R&D/engineering scientific and manager/leadership tracks
Scientific track example
Maturity of current talent development program within benchmark companies
Overall effectiveness of benchmark partners’ talent development efforts in preparing their function’s staff for future roles
Most important KPIs used to measure the effectiveness of talent development efforts

III. Talent Development Programs and Initiatives

Average tenure of benchmarked pharma companies’ R&D Staff and average tenure of software engineers
Common benefits and unique company benefits offered by tech companies to cope with high turnover rates
Most used talent development programs
Executive narratives on rotations in R&D
Effectiveness of talent development programs
Examples of talent development rewards/incentives
Current challenges for most talent development programs
Top predicted talent development challenges over the next three years

IV. Participant Demographics

Talent development team/group structure
Internal functions supported by talent development team

Report Summary: Benchmarking R&D and Clinical Talent Development Initiatives

ID: PHR-215A

Features:

Pages: 11

Published: Pre-2019

Delivery Format: Online

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