Talent Management and Retention in a fiercely competitive market

Tue, Feb 24th, 2009

24^th February 2009

Gilead has grown rapidly in 20 years. From beginnings in 1987, the company has now reached sales of $5 billion and a market capitalisation of $44.6 billion.

In 2008 the company employed a total of 3400 people
In the 10 year period ending 2008, 11 drugs had been passed for use. This record was not as successful as Pfiser, but when it is considered that Gilead's drugs are in the HIV area, this demonstrates considerable success.
Gilead's share price has grown at an average rate of 3.5%
The company has been under enormous pressure to reduce costs so as to make its products affordable in Third World countries. Arrangements have been made to produce locally in Third World countries, with the result that 300,000 people are on medication there.

The company's core values can be summarised as Team Work, Accountability and Excellence, all of which come second to the key value, integrity.

The company aspires to hiring the best talent. In order to do this, it pursues the following:

Geographical split - on the basis of language

Geographical split - on the basis of language
Dividing potential candidates up into active or passive and to then use different techniques to extract such information as required.
Entering into partnership and alliances with other organisations and then partner in such operations as HR.
Introducing a hiring manager, with special remit for talent acquisition.

The company carries out a specific strategy, applicable to all roles:

The company overhires to compensate for any potential loss of talent.

The company overhires to compensate for any potential loss of talent.
It develops its own strategy on a case by case basis.
If this strategy fails, it is taken back and reworked so that it is effective.
On of the great challenges of a diverse company such as Gilead is that they need to think of a scientific way to approach communications.

The Goals and Objectives are:

to achieve high performance action in a highly demanding environment.

To create a employee environment where individuals have a platform to perform.
To develop a core focus of activities
To assist employees to achieve their full potential.

It achieves this by

delivering a financially secure environment
being prudent and not to anticipate successes in testing
develop and sell through "sciences" approach

What are the current Challenges?

Recruiting in a buyers' market
Handling direct applicants effectively
Other specific challenges

The recruitment process begins with a telephone interview. This is followed by an interview with HR

Finally, the drug industry can have a difficult time dealing with generic companies which provide unbranded products. These companies are often small and entrepreneurial and can be a thorn in the side of mainstream manufacturers.

$850 m has been spent on development, to ensure that the company meets it goals and objectives.

21 January 09.