Among several giants in the healthcare and pharmaceutical industry, this behemoth of an organization is a fully integrated, global healthcare provider with strengths all along the pharma value chain. With core competence in the field of healthcare, the company provides healthcare solutions ranging from active pharmaceutical ingredients, formulations and animal healthcare products to wellness products.
Already a giant in the industry, the company aspires to lead the global healthcare market with a robust product pipeline. Among other aspirations, a desire to become a research based pharmaceutical company by 2020 remains on the edge of their seat.
Is it the Red Pill or the Blue Pill?
In the 1999 American-Australian science fiction action film, the Matrix, Morpheus asks Neo to choose between two pills – red and blue. One would enable the protagonist to understand the true nature of the Matrix, while the other helped continue his ignorance.
"You take the blue pill, the story ends. You wake up in your bed and believe whatever you want to believe. You take the red pill, you stay in Wonderland, and I show you how deep the rabbit hole goes."
-Morpheus to Neo
With such a dynamic and competent market place, The Matrix within the pharmaceutical industry is at best a bloodbath. The war on talent especially, is one of high ferocity.
Being part of such a grim ecosystem, the Pharma company – despite their status as a behemoth – needed to turn their hiring process into a competitive edge.
What was their specific ask? To Predict High Performers Even Before They Got On-Board
In such a scenario, Mettl appeared just as Morpheus did, offering a choice between pills. But more importantly, what did the Pharma Company choose?
The Mettl Red Pill
For the Market Matrix, the Mettl pill empowered one of India’s four largest pharmaceutical players with sophisticated assessments – sophisticated assessments that enabled the company to gauge a candidate on high performance with a 70% correlation on the same.
How did the pill do that, you ask? Well, with the following three ingredients in place:
1. A Benchmark on High Performance.
A thorough analysis on the behemoth’s existing high performers laid the groundwork for assessments tailor-made to address the problem. Simply put, we wanted an answer to – “What makes them a High Performer” question.
2. Limiting & Delimiting Competencies.
Derivative of the preliminary analysis, the Mettl team identified competencies that helped performers thrive and prosper in the ecosystem, while eliminating competencies that hindered performance. This helped effectively realign the company’s pre-existing competency framework.
3. Assessment Administration.
With the framework now redefined, improved and set in stone, Mettl drafted cutting edge assessments around the competencies identified. Performance statistics were then compared to the benchmark to discover high-potential performers. The assessment score predicted this with a spectacular 70% correlation to boot.
The After Effects of the Mettl Pill
As with any pill, the impact is something to look at. For a pill as peculiar as Mettl’s, the Pharma Behemoth experienced improvements on par with steroids. The added benefits included:
1. Reduced Attrition
With a know-how on candidates who could and could not perform, the Pharma Behemoth streamlined their hiring process to effectively plug attrition at the interview stage itself.
2. Reduced Cost per Hire
By eliminating their chances of a bad hire, the Pharma Behemoth now saves 25% in their cost per hire metric.
3. Assessments Moved Online
The online, but secure test platform enables a candidate to appear for an assessment from throughout the globe. It improved candidate experience and employer equity associated with the company’s brand.
One big problem. One Mettl pill. Would you like one as well?