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Precision talent management and reward practices at Novartis
As a healthcare company, we want to reimagine medicine to improve and extend people’s lives, and this purpose drives everything we do. We have developed our strategy to build a leading, focused medicines company. This strategy is underpinned by our five priorities, which will shape our future and help us continue to create value for our company, our shareholders and society:
1. Unleash the power of our people
2. Deliver transformative innovation
3. Embrace operational excellence
4. Go big on digital and data
5. Build trust within society
We are moving towards precision talent management, using the business strategy to more accurately predict future talent needs, identify gaps and unlock value for the business by building strategic capabilities and matching the right talent to the right roles. Comprehensive succession planning for roles that are critical for our organisation has support to develop existing employees. We democratise access to career and talent development programmes, reskilling and upskilling, meeting both the growth of the individual and our business needs in an inclusive environment that celebrates diversity. At the same time, we continue to strengthen our EVP, in line with our culture aspiration, to drive our reputation and ensure that we attract the best talent externally with the best cultural fit.
Novartis has a multi-pronged strategic recruitment approach in identifying talent and skills, aligned with our cultural aspirations and tied into our wider strategy/purpose. The journey begins with in-depth understanding of business and culture, including assessment of current capabilities, identifying current and future talent needs and assessing the impact of talent on the success of the organisation, progressing to targeted recruitment and onboarding for success.
We have learning programmes and platforms that cater to every segment of training and professional development, including leadership development. Employee resource groups (ERGs) are voluntary networks linking people with a shared set of interests, experiences and perspectives. They make the different aspects of diversity and inclusion more tangible to everyone and connect people with a similar vision.
In addition, our total rewards framework has been developed to offer competitive rewards that are aligned with industry practice and our cultural aspirations, supporting our ambition to be a trusted leader in reimagining medicine.
