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"Faced with long product development lead times and protracted approval processes, pharmaceutical and medical devices companies simply can't afford to tie success completely to their R&D pipeline. Often, marketshare can be more quickly gained by acquisition or alliances - and that means that companies increasingly value senior executives who are adaptable, and who can quickly assess and maximize capabilities within various corporate cultures."
During August, a group of healthcare industry CEOs/COOs were asked to rank those executive characteristics which currently are most influential in selecting new talent. A drive for results and an eye on creating shareholder value received the most #1 votes, and also received the greatest percentage of all votes cast. A leadership style that closely fits the company's existing core values and culture. was the second most popular choice. While the management strengths of facilitation, group building and communications received very few #1 votes, that group of skills did receive enough total votes to place it second in overall results.
"When recruiting, we're using an even 'finer screen' to look for corporate fit and demonstrated results - and we find that companies increasingly make decisions based on that criteria rather than on an executive's work history or industry knowledge. Despite the key trends in the industry - cost containment, strong pressure on margins and shareholder ROI, and long lead times for product development - no company, small or large, can afford to go too far afield from these tried but true hiring strategies,"
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