(Part 2) Building resilience in the pharma and life sciences sector: a guide for talent leaders

To see part 1 of this series visit here - Building resilience in the pharma and life sciences sector: a guide for talent leaders, Claudia Wardle (weareams.com)

Pillars of Resilience 2:  Beliefs

In the quest for organisational resilience, four key pillars – attitudes, beliefs, agility, and structures – must be sustained if a business is to thrive. Having examined the ‘attitudes’ component of this framework in the first article in this series, here we look at the importance of weaving the right beliefs into the fabric of an organisation, and how to equip life sciences leaders to implement this approach.

An example: diversity, equity & inclusion

The need for core values and beliefs to underpin meaningful action is a well-established concept, from Kant’s Categorical Imperative to Martin Luther King’s famous statement on the ultimate measure of a man. In a business context, this means embedding the right beliefs to drive forward initiatives that create a strong organisational culture, which in turn contributes to the organisation’s resilience. Diversity, equity, and inclusion are a salient example.

Businesses with higher diversity outperform their peers; those in the top quartile for gender diversity have a +25% likelihood of doing so financially, while those in the top quartile for ethnic diversity have a +36% likelihood of financial outperformance. Furthermore, businesses with robust DE&I initiatives are far more likely to attract and retain top talent. Just one instance of such an initiative are flexible working models for parents. As recent studies have indicated, the Pandemic smashed cultural barriers to working from home which previously existed to parents, and especially to mothers. Leaders who not only adopt a new attitude to hybrid working, but embed within company culture equality for working parents, will see the fruits of organisational resilience.

The same is true when egalitarian beliefs are firmly rooted in a business around ethnicity, sexual orientation, neurodiversity, and beyond. Surveys and field studies conducted last year by the MIT Sloan Management Review, assessing companies with proven strengths in DE&I, have revealed that at the core of successful progress in the space are values (representation, participation, application, and appreciation) which form the basis for transforming the workplace. Such evidence further reinforces the idea that purposeful action and results are best achieved when driven by beliefs.

From a life sciences talent perspective, action may take the form of a shift towards skills-based hiring. When underpinned by a fundamental belief in diversity and accompanying values, skills-based hiring allows life sciences companies to in turn improve on this strategic business aim, in a self-sustaining cycle of diversity excellence. With a 65% white workforce in the life sciences industry, black individuals accounting for only 6%, discovering a broader spectrum of talent is made possible by prioritising aptitude and potential over experience. 

Equipping leadership

Executive education

In the last article, we discussed how executive education programmes can help to equip industry leaders to futureproof their businesses, including by addressing leadership mindset. Indeed, inclusiveness is increasingly considered a key dimension of successful leadership. Executive courses dedicated to diversity and inclusion bolster the growth of executives into their roles as inclusive leaders who can build these values into their organisation, developing and executing comprehensive DE&I strategies. 

In the same vein, senior leaders can enrol on executive education programmes focussed on sustainability, learning how to translate into business action the fundamental belief in environmental protection, positive ecological impact, and an equitable future for all. Most, if not all, sustainability issues are business issues; matters like climate change and women’s empowerment belong not merely in standalone sustainability discourses, but in boardroom discussions, informing resilient business strategies.

Today, leading life sciences companies are looking at sustainability not only as a compliance requirement but also as a source of value to their patients, their organizations, and the planet.

Mentorship

Compared to our other three pillars of resilience, beliefs are much more human and personal. Even when adapted into a business setting, beliefs remain quintessentially subjective and identity-rooted. Mentorship therefore lends itself well to equipping leaders to embed the right beliefs into their organisation. 

The wisdom of a one-to-one, mentor-mentee relationship is conveyed and absorbed differently than content from an executive programme or even a workshop; two-way communication, a close relationship, and weighting toward real-world relevance can allow for a more profound and meaningful understanding of beliefs and values and a mentor can offer guidance on how these have shaped business decisions and practices. She then has the opportunity to reflect, learn from her mentee’s perspectives, and ‘give back’, in a deep learning experience for both parties. 

Christian Dimaano, former Executive Director, Head of Regional Medical Affairs at Mirati Therapeutics, proposes tips for finding a mentor in the Life Sciences. These can be distilled down to three steps: making full use of personal networks, seeking a mentor committed to one’s success, and being open and authentic in one’s approach. Mentorship relationships are often organic, both cross-institutionally and within the same organisation. But, without relying exclusively on this path, how can talent leaders facilitate high-quality mentoring? They can evaluate the right types of mentorship programme for their organisation’s needs and for different situations. Types of relationship to consider may be:

• Traditional mentorship
• Reverse mentorship (when the less experienced employee mentors someone more experienced in their field)
• Group mentorship (more cost-effective and relaxed)
• Virtual mentorship (which complements hybrid and remote working)
• Peer-to-peer mentorship (which builds camaraderie and strengthens team dynamics)
• Sponsorship (helpful for underrepresented groups)
• Onboarding mentorship

When intelligently designed with defined parameters and objectives – in this case, around values and beliefs – such programmes are an invaluable tool for building resilience more authentically.