On 17 July, we co-organised an event in collaboration with Willis Towers Watson (WTW) to share on the recent trends and challenges in the biopharmaceutical industry. These trends are, however, extremely common even in most other industries – you may learn something from the sharing!
Here’s an event recap for you to catch up on the information shared.
From inflation to market changes to pressures to digitalise, they shared on several trends and challenges faced by businesses in recent years.
A common struggle to overcome these challenges stemmed from manpower and talent demands, as companies have trouble finding the right person for the job. For example – Medical and Sales Representatives are in high demand for the biopharmaceutical industry.
To solve the challenges faced, another popular solution is to conduct a Job Redesign.
By reinventing processes, job roles, and organisational flow, companies can adapt and reallocate manpower to have the right talent in the right places and gain the agility to navigate challenging economic conditions and remain competitive.
At the same time, Job Redesign is proven to provide benefits such as enhancing productivity, efficiency, and employee satisfaction – allowing better sustainability and resilience.
Conducting Job Redesign can be a costly affair, especially when you need to reskill employees for a new role.
Here, we shared on our Career Conversion Programmes (CCPs).
The biopharmaceutical industry can leverage on the CCP for Biomedical Manufacturing Industry specifically, allowing you to reskill new hires or existing employees with salary support for up to 12 months.
Companies from other industries can use the CCP for SME Executives or CCP for Professional Executives, depending on their eligibilities and needs for the new hires.
To ensure a more successful Job Redesign, some companies may opt to hire a Job Redesign consultant.
The cost of this process can be alleviated with the Productivity Solutions Grant (PSG) for Job Redesign, with funding of up to 70%.
These grants can allow for a cheaper, more successful revitalisation for your business.
For more information on the PSG for Job Redesign, you may read more here.
If you wish to embark on a CCP, you can obtain more information and take the first step here.