Remote work trends in pharma
Is remote work transforming pharma workforce dynamics? (1,070 words, 5 minutes)
Remote work is now a significant trend in every industry, completely transforming traditional work practices and creating new opportunities for collaboration, efficiency, flexibility, and employee retention. According to a study published in the American Journal of Pharmaceutical Education, before the Covid-19 pandemic, remote work was limited, with only about 40% of employees in the U.S. working from home at least some of the time and less than 5% doing so half of the time or more. However, the pandemic changed everything, and in 2021, it was estimated that a staggering 70% of U.S. employees worked remotely, with most expressing the desire to continue remote work even after Covid restrictions are lifted. This shift in work practices is here to stay and has become an essential aspect of modern work culture.
An article published in the Journal of mHealth highlights that remote work practices were already adopted in the pharmaceutical industry before the Covid-19 pandemic hit. The pandemic acted as a catalyst, accelerating the adoption of remote work. The authors note that many changes during the pandemic were already taking place organically within the pharma industry. The main benefit of remote working, according to the authors, is flexibility. Remote work allows for greater flexibility in scheduling, eliminates long commutes, and offers diversity in talent acquisition. Thanks to remote working, companies can now search for talent beyond their geographical limits.
McKinsey & Company reports that the pharmaceutical industry has quickly adapted to remote work, leveraging digital technologies and virtual communication platforms. They also note that the Covid-19 pandemic prompted pharma companies to rethink their organizational strategies. Despite some initial challenges, many pharma professionals found remote work efficient and productive, leading to a shift in attitudes toward flexible work arrangements.
Post-pandemic, remote work has become more entrenched in the pharma industry. Pharma Voice notes that companies recognize the benefits of remote work, including cost savings, increased productivity, and access to a broader talent pool. As a result, many pharma companies have adopted hybrid work models, allowing employees to work remotely part-time or full-time while maintaining access to office facilities for collaboration and meetings.
According to McKinsey & Company, companies can adopt four essential management tips to be more efficient in a hybrid environment.
Manage performance through outcomes by setting clear objectives and goals.
Build trust between leaders and employees.
Be engaged and present.
Adopt a team problem-solving mentality. These same tips can be applied to fully remote work.
While the transition to remote work in the pharmaceutical industry has many advantages, it also presents some challenges. Harvard Business Review notes remote and hybrid working could lead to a lack of social connection between team members. They also write that communication and collaboration could be adversely affected.
Seqrite notes that the pharmaceutical industry may face its own unique challenges, such as cybersecurity. Personal devices and public networks can be vulnerable, so companies must implement strong measures to safeguard confidential information and intellectual property and prevent data breaches.
Additional reading:
THIS WEEK 03/19/24
Sumitomo Pharma Canada announced relugolix (Orgovyx), an oral gonadotropin-releasing hormone (GnRH) receptor antagonist, is now available for prescription in Canada for the treatment of adult patients with advanced prostate cancer.
Health Canada authorized UCB’s bimekizumab injection (Bimzelx) for two new indications in adult patients: active psoriatic arthritis and axial spondyloarthritis.
The U.S. FDA approved BeiGene’s tislelizumab-jsgr (Tevimbra) as monotherapy for the treatment of adult patients with unresectable or metastatic esophageal squamous cell carcinoma after prior systemic chemotherapy that did not include a PD-(L)1 inhibitor.
The U.S. FDA granted accelerated approval to Madrigal Pharmaceuticals’ resmetirom (Rezdiffra) in combination with diet and exercise for the treatment of adult patients with non-cirrhotic non-alcoholic steatohepatitis with moderate to advanced liver fibrosis.
LISTEN UP
In season 12 of the NPC Podcast, Aldona Armstrong, Commercial Solutions Lead, Immunology at UCB, gives insights into patient advocacy initiatives, working with key opinion leaders, and ways to implement specialty marketing approaches. Hear her in conversation with podcast hosts Mitch Shannon, Jim Shea and Mark McElwain.
HEALTHBIZ REWIND
This feature of NPC Healthbiz Weekly looks back at some of the most insightful moments from previous NPC Podcast episodes. In Healthbiz Rewind, you’ll read bold life sci predictions made during the renowned “Prognostication Korner” segment of the NPC Podcast.
Bonnie Crombie
Leader of the Liberal Party of Ontario
Mississauga, Ont.
Season 11, episode 01
Listen to this episode here
What bold predictions can you make about the sciences industry during the upcoming 12 to 24 months? (This episode was recorded when Bonnie Crombie was Mayor of Mississauga, Ont.)
Predicting the future is always challenging, but I think the life sciences industry will continue to experience remarkable advancements in the next 12 to 24 months. We’re going to continue to work with all levels of government through the launch of strategies, including the Ontario Life Sciences Strategy and, of course, our own Mississauga-made life sciences strategy to help grow the market and the sector and reemphasize our own strategies with the support of all levels of government and skilled workers. We will continue to see that kind of growth in our city.
We have a robust infrastructure, a skilled workforce, and a collaborative ecosystem, and we’re well-positioned to embrace the trends and contribute to the ongoing advancements in the life sciences industry. Earlier this year, the CEO of AstraZeneca visited Mississauga to announce a massive expansion of their R&D operations and the creation of a new center of excellence that will advance global research on rare diseases, bringing 500 new skilled jobs in Mississauga. So leading biopharma companies like AstraZeneca are pushing the envelope regarding research and innovation and investing in the potential of our city, our people and our future.
So, I predict we will establish our city as a place where research and development in life sciences are conducted, innovative medicines are manufactured, and people’s lives are ultimately improved.
Life Sciences Ontario: 2024 Annual Awards
Join LSO for a night of celebration of the #lifesciences sector and individuals and companies that have made outstanding contributions — Bill Mantel of Centre for the Commercialization of Regenerative Medicine (CCRM); Dr. Benjamin Rovinski of Lumira Ventures; Dr. Christine Allen of Leslie Dan Faculty of Pharmacy, University of Toronto; Dr. Durhane Wong-Rieger of Canadian Organization for Rare Disorders; and Satellos Biosciences Inc.
Date: Wednesday, May 15th, 2024
Venue: Liberty Grand, Exhibition Place - 25 British Columbia Road, Toronto
Time: Reception - 5:30 p.m. / Dinner: 6:30 p.m.
Grab your tickets now here.
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