SHAPE IN OR SHIP OUT
SHAPE IN OR SHIP OUT
Indian Pharma & Healthcare Industry is battling large –scale layoffs!
We are in extraordinary uncertainty and exceptional turbulence times. Whether we look at these uncertainties as a threat or an opportunity, is in our own minds.
Once considered the hottest sector to work in, the sheen and shine of Pharma & Healthcare industry seems like fading. Back in 90’s , If you don’t get job anywhere , people used to say “Pharma sector will surely absorb you” and what you used to get : Job security , Good Salary , and of course visiting 5 Star hotels which many would not have even dreamt of with a steady career path. No wonder there were thousands of graduates queued up to work in Pharma & Healthcare sector in those days and the industry was at its peak.
Today the scenario has changed, it is now considered a risky sector.
SO WHAT’s IMPACTING THE SCENARIO NOW!
Price capping of leading products both in Pharma & Healthcare sector is leading to:
- Challenging bottom lines
- Evolving Customer Expectation &
- Increased Competition
On top of it the changing economic condition of the country due to De-Monetisation and GST.
All of the above factors are adversely impacting the industry to grow . The job loss scenario in the country is going to get bigger in the years to come by. The process will be slow and painful for the employees and the country until 2022 as per the present forecasts.
Employees are getting laid off at various levels in the organization as an annual restructuring exercise by letting off poor performers. Most of the analyst have projected that price capping and lack of new research product introductions as the core reason for this massive layoffs.
The quantum and rapidity of this change and the consequent demands on business leaders is tremendous and not only that , the new situation clearly puts lot of pressure on the bottom line of the Pharma & Healthcare Companies , and the impact of that will be on the employees
UP-SKILLING – The New Mantra
A NASSCOM report says up to 40 percent of the estimated four million workforce in India need re-skilling over the next five years to keep pace with automation and changing skill needs in various industries.
WHAT TO DO NOW ?
Like what we used to do in our school days with the change of syllabus every year , there is a constant need to learn the advance methods in each subject as lessons would become outdated at the blink of an eye. The same is the case with our jobs. There is a constant need to train and upgrade your skills to keep in pace with the rapidly changing economic world irrespective of your hierarchy. In addition
- Up-Skilling is important for all levels in the organization , for example – Middle level managers need to build skills on how to build and maintain trust , while senior level managers need to be build their skills on maintaining integrity and dealing with failures
- Keep yourself abreast by reading newspapers, journals , blogs , Technical papers, interacting with customers and their seniors and knowledgeable personnel , attending seminars and conferences and Networking. Meeting up with leaders in your chosen field in various forums and interacting with them is utmost importance.
About HCN AHEAD !
While its important to up-skill yourself , you need to choose a good platform to build your leadership skill .
HCN Ahead is a mission to help 1000 professionals who wants to take leadership roles in their career sooner or later, Its a Leadership program designed to develop the role of professionals as managers , as coaches, counselors and effective motivators.
Here we groom future leaders for complex environments where there are NO CONSTANTS.
Hope this gives you some insight into how the Pharma & Healthcare Industry is shaping up now and what are the future skills required to remain competitive in business.
Do you Want To Increase your Influence in your Current Job by 10X within 90 days ?
Get invited to my next private webinar HCN Leadership Program on
every Tuesday Night 8 pm to 9 pm ,
Where I will be sharing specific strategies & action plans for success ?