Across industries, an organization’s research and development (R&D) function plays an important role in converting innovative ideas into exceptional products and services that deliver a competitive edge. This scenario requires an effective R&D function, which in turn, is dependent on productive employees who can add value to the function.
To ensure a high functioning R&D group, it is important to have an effective talent development program for R&D employees to increase capabilities and keep talent.
Best Practices, LLC undertook benchmarking research to probe the tactics and strategies employed by leading pharmaceutical and technology companies to align their Learning and Development function within R&D with corporate objectives, talent development initiatives, and talent retention goals.
Additionally, the study highlights current and future challenges for talent development. Learning and Development leaders in pharma and technology companies can refer to this study to compare their talent development initiatives with those of industry peers.
The new study, “Benchmarking R&D and Clinical Talent Development Initiatives,” found that 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. The research features two segments: Pharma companies and technology companies.
This study analyzes R&D talent development success factors and potential pitfalls around the following areas:
- Alignment of R&D Talent Development with Corporate Objectives
- R&D Talent Development Performance Measures and Corrective Actions
- Talent Development Differences Between Scientific and Managerial Tracks
- Impact of R&D Talent Development Initiatives
- Structure of Talent Development Team
Best Practices, LLC engaged 18 HR, R&D and Engineering leaders at 15 companies through a benchmarking survey instrument.
(Source: Best Practices, LLC)
