The rise of public healthcare in emerging markets

21/07/17

At a glance

The demand for public healthcare in emerging markets has steadily increased as developing countries transition from poverty-related diseases to chronic, age-related diseases commonplace in more mature markets.

As growth trends in mature markets plateau due to the patent-cliff, rising R&D costs, and more complex, riskier research, global pharmaceutical companies are developing in these areas to explore new sources of profitability in emerging markets.

The talent management puzzle

Government organizations face several challenges around talent development and retention in emerging markets that are compounded by regional and industry-specific talent management complexities. Some of the biggest obstacles:

  • Resource scarcity with cost sensitivity: Public sector organizations are increasingly expected to do more with less
  • Scarcity of high-value talent: Public health organizations in emerging markets and industries require highly-skilled workforce, but there is a lack of talent and necessary skills in market
  • Antiquated technology: Governments and emerging market regions do not offer cutting-edge technology to assist with the everyday operational process and tasks to operate
  • Antiquated strategies for education and training: In many emerging market regions, learning and development activities focus on investing in technical learning rather than the developmental, systematic learning essential to developing critical thinking, analytical skills for future leaders
  • Satisfying a diverse workforce of baby boomers, generation X, and millennials: According to PwC’s NextGen study surveying an estimated one thousand Millennials, job fulfilment and engaging work helps form an emotional connection with the organization and is a key retention factor
  • Poaching: Competing private organizations with abundant financial resources will offer high paying salaries to entice and poach top talent from public sector organizations
  • Lack of a strategic corporate HR function: In a study by PwC’s Saratoga Asia-Pacific Centre, three out of four companies that participated in the study do not use flexible benefits as part of their reward model

Solving the puzzle: a new talent strategy

The following steps offer a methodical and strategic way for public sector organizations to develop their talent strategy:

  1. Regional assessment: Come to a collective understanding of the internal and external operational and talent landscapes, and define a vision for the future.
  2. Industry assessment: Local governments can take their market research one step further and conduct an assessment of the public sector workforce by administering a cross-sectional survey of the industry workforce.
  3. Internal talent assessment: Local governments must conduct an internal review of their current talent ecosystem which should:
    1. Identify and review relevant talent-related documentation
    2. Identify and review talent-related technology and systems used
    3. Identify/analyze internal metrics and/or data for talent areas
    4. Identify and review talent strategies, core processes, and programs
    5. Identify and review communications channels
  4. Benchmark and gap analysis: Assess against talent ecosystem leading practices and identify gaps to be remedied.
  5. Identify key components to develop your talent strategy: Local governments should look at other retention approaches beyond those used in the private sector.

Contact us

Chan Harjivan
Principal
Tel: +1 (202) 756-1710
Email

Diana Elkis
Director
Tel: +1 (202) 756 1739
Email

Follow us