While China may be grappling with an economic slowdown and escalating geopolitical tensions, it remains the world’s second largest pharma market and a country that boasts an extraordinarily dynamic life sciences ecosystem. Eased restrictions on foreign investment have made it even more attractive for international pharma while China’s native innovators are thriving, creating a flourishing pharma industry that encompasses everything from Big Pharma affiliates to well-established Chinese players and local biotech upstarts.
This environment has created a wealth of opportunities for fresh local talent as well as for more seasoned professionals prepared to return to their homeland after experiences abroad. However, companies operating in China often struggle to meet the growing demand for talent. Facing fierce competition and a huge rate of turnover, which reached no less than 20.7 percent in pharmaceutical R&D in 2020, companies have recognized that offering competitive salary packages is not the only thing that will attract and retain top talent. As a result, they are focusing on fomenting a strong company culture, building pride and team spirit and offering their teams opportunities to develop.
No Shortage of Home-Grown Talent
Nisa Leung, former managing partner, Qiming Venture Partners
“Big Pharma has built many R&D centres in recent years, which have employed thousands of scientists. Many have started companies that have raised funding in the past five to seven years. These companies have subsequently hired hundreds and thousands of people. And this next generation is also starting companies. China has around 5 million new science, technology, engineering, and mathematics (STEM) graduates every year. That represents a tremendous workforce, and they are dedicated to working very hard and are eager to develop. As a result, there is no lack of home-grown talent.”
A Long-Term Vision
Vivian Zhang, managing director and GM, Merck China Healthcare
“I believe that Merck’s unique company culture plays a significant role in employee retention. Unlike more aggressive corporate environments, Merck’s culture focuses on long-term vision and care for our people. As a result, our employee turnover rate tends to be lower than the industry average. This is because we foster a sense of ownership and belonging—giving employees a clear path for long-term growth and the opportunity to develop alongside the company. By aligning our vision with the personal and professional development of our employees, we ensure that they are motivated to stay committed to Merck for the long haul.”
Belonging & Purpose
Jasmine Cui, founder and CEO, Innocare
“Retention can be a concern in such a dynamic market like China, where opportunities abound, leading to frequent job-hopping. However, I’m proud to say that our team at InnoCare has remained remarkably stable over the years. We’ve cultivated a sense of belonging and purpose, attracting both seasoned professionals and fresh talent who find value in our mission. This stability sets us apart and reflects positively on our leadership and company culture.”
A Great Place to Work
Deng Haoqing, president and GM, Chiesi China
“Chiesi’s global recognition as one of the world’s best companies to work for, including being the only European pharmaceutical and Italian company featured on Fortune’s Top 25 list, underscores its steadfast commitment to cultivating a workplace environment that prioritizes inclusion, engagement, and empowerment. In China, these values resonate deeply, as demonstrated by accolades such as ‘Great Place to Work’ and ‘Best Workplaces for Women.’ Employees often describe the company as more than just a workplace—it is likened to a family, where individuals are encouraged to thrive personally and professionally. This sense of belonging inspires a deeper connection to the company’s mission and motivates employees to contribute with purpose and passion.”
Building a Healthy Organisation
Yoshio Uchida, president, Daiichi Sankyo China
“In addressing the challenge of high employee turnover, which is particularly pronounced in China, we focus on creating a strong sense of belonging and purpose. We emphasize why working at Daiichi Sankyo is not just a job but a meaningful career choice. We offer continuous opportunities for personal and professional development, which are critical in a competitive market. While compensation is important, we recognize that a supportive and healthy work environment is equally vital for employee retention. This year, we have made it a priority to build a “healthy organisation”—one that is effective, efficient, productive, and conducive to long-term success. By fostering a culture that values growth, integrity, and collaboration, we aim to retain our talent and ensure that our employees are fully engaged in our mission to improve the quality of life through innovation.”
Retaining Humanity
Guillaume Delmotte, GM, Ipsen China
“For me, the importance of people cannot be overstated. With my leadership team, our goal is not just to create a great place to work but to build an exceptional experience for everyone involved. In a world increasingly focused on digital and remote work, we must not lose sight of our humanity and the need for face-to-face connections. We are like a tribe, and we need to work together to make a significant impact.”
Leading to Succeed
Renaud Gabay, managing director, R&D-Based Pharmaceutical Association Committee (RDPAC)
“Leading in China requires a deep understanding of the market’s nuances, the ability to quickly navigate its complexities, and the skills to interpret both what is said and unsaid by stakeholders. Leaders must be adept at distinguishing between future impactful policies and those that are less likely to materialise. It is crucial to have a well-defined vision for the organisation within China’s rapidly evolving landscape. Moreover, effective leaders must be deeply involved in the regional specifics of the market. Communication is also crucial. Effective leaders must excel at listening and must be able to approach problems from multiple perspectives.”
