Shortage of management talent has become a major problem for many fast-growing industries in China, nowhere better illustrated than in the pharmaceutical industry.
Shortage among plentyChina's employee pool is different from anywhere else in the world. On one hand, the country produced 3.1 million university graduates in 2005, while the United States produced 1.3 million. However, fewer than 10% of China's graduates have the skills to work for a foreign company. Moreover, employers in the region are beginning to compete more vociferously for that 10%, especially for entry-level white-collar workers. And, as mentioned, mid-to-senior-level managers are scarce, and don't tend to stay on board very long, either.
Firm explores new possibilities for talent management:
Novartis already uses a systematic approach to developing associates worldwide. It organizes these activities in three main categories:
- Internal focus: growing leaders from within and filling 70% of internal open positions with internal associates.
- Commitment to codified development planning: ensuring that each associate has a development plan.
- Managing development on the front line: ensuring that each associate has a minimum of two career and development discussions every year.
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