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Engaging to innovate – a white paper on the leadership styles in the pharmaceutical business landscape

The white paper, Engaging to innovate: leadership styles in the pharmaceutical business landscape, is now available. With a focus on the unique challenges of the South African business environment, which also pertain to those of emerging markets,how do companies increase employee engagement and innovation?  This latest analysis discusses the leadership styles that are vital for creating an engaging, innovative climate in the sector.

Pharmaceutical companies are experiencing a period of change. Patents are expiring, the number of drug approvals is down and more stringent regulations on healthcare providers are coming into force. At the same time, healthcare buyers are struggling with tight budgets that are already stretched to the breaking point.

The latter issue is even more pressing in

emerging markets such as South Africa. In fact, there are many challenges unique to South Africa, including increasing rates of HIV/AIDS and an extreme divide between government and private sector healthcare. Companies operating in South Africa also have to cope with the country’s unique internal dynamics. The vast majority of companies doing business in the country are satellite operations of multinationals, headquartered in the US or Europe. It can often be difficult for these remote offices to get those at HQ to understand the local challenges they face.

“The combination of all these factors means that companies working in South Africa need to ensure that employees are as engaged as possible so that these obstacles can be effectively overcome,” says Brent Herman, senior consultant: Pharmaceutical sector. “But having engaged employees requires a climate that motivates them; this in turn depends on teaching leaders to use a broad and situationally-appropriate range of leadership styles.”

 Hay Group identifies three key issues with leadership styles that, if left unattended could become ‘derailers’ for companies operating in South Africa.

Hay Group has supported many of the pharmaceutical sector’s top companies by designing and implementing both small and large-scale programs that have helped leaders create the right climates, which has a massive impact on bottom line performance. With effective leaders who use a broad range of leadership styles, Hay Group clients can create climates that keep employees engaged. In this way, they can make the most of the talent they have, and keep innovation continuous.

For further information contact Brent Herman on +27 (0)11 783 2632.

Ends.

Issued by:                                                        Kathy Mumford

On behalf of:                                                    Hay Group South Africa

For further information:                                     Kindly contact Kathy Mumford on 011 783 2632

Date:                                                               28 February 2014

Ref:                                                                 Engaging to innovate – launch of WP