To retain target biotech company employees-arguably as vital to success as the pipeline being acquired-biopharmas need talent strategies that focus on three key areas:
◈ Identifying priority talent. The acquiring company must first determine which employees in R&D and commercial need to be retained and for how long.
◈ Building the operating model. In parallel, the biopharma needs to decide whether the target company will be integrated or will operate at arm’s length as of day one.
◈ Mapping out the timeline of talent assessment and offers. If the decision is to integrate, the biopharma can develop a rapid or relaxed timeline for conducting a detailed talent assessment and making offers.
