State of the Industry: In the highly regulated Pharmaceutical Industry, jobs have become more stressful and complicated. Fierce competition has driven salaries higher and higher and benefits must be constantly improved. Although the Pharmaceutical Industry has lower turnover rates compared to other industries, the cost of turnover is much greater. With strict regulations and rigid timelines, a research specialist’s resignation leaves your company with a delay in product development and a loss of talent. Additionally, when a pharmaceutical representative leaves, they take the client relationships with them. These stringent regulations leave employee actions vulnerable to repercussions from their boss, the government, and sometimes even the media making retaining talented employees invaluable.
How Can Retensa Help? In order to retain your employees and reduce turnover, a proactive approach is critical. Retensa can help your Pharma organization achieve these goals by constructing an employee retention strategy according to your company’s strengths, weaknesses, budget, and goals. Recruiting, hiring, On Boarding, and training are especially important in the Pharmaceutical Industry. An analysis using our Emergent Employee Life Cycle can give you an accurate picture of what current processes are successful and which ones are not as effective as they could be. Retensa creates an action plan with clear recommendations for improvement based on these findings. We also use exit interviews and employee engagement surveys to learn why employees leave your company and what you can do to better retain them.
Retensa can help you retain your best employees today. To talk to a retention expert, call us at (212) 545-1280 or email us here.