What if meetings were collaborative and people really enjoyed working together? What if everyone knew their mission and were aligned to the company’s goals? We know this is not always the case. Organizations face many challenges, including employee retention.
A recent McKinsey & Company survey conducted across Australia, Canada, India, Singapore, and the U.S. shows that employees are voluntarily quitting their jobs at a rate of 25% higher from December 2019 till May 2022. No doubt the pandemic has changed the way the world operates but the top cited reasons include a lack of career advancement, inadequate compensation, and uncaring and uninspiring leaders.
While talking about the findings of the survey, Yoon shared a critical insight: digitalization and the Pharma 4.0 vision is appealing to an increasing number of young generation engineers from ‘career development’ and ‘cultural engagement’ perspectives. Many of Theragent’s new employees were frustrated with the paper-based systems they were forced to work with in their previous companies. The switch to digital wasn’t quick enough for them.
Yoon discussed how the company is overcoming these challenges through:
- A community first, company second culture (that puts people first and where leaders model the way)
- Building quality into their state-of-the-art facility
- Deploying a digital Pharma 4.0 platform
He says that the company’s employees are excited to work with new digital technologies and the validation lifecycle management system from ValGenesis. “It is a competitive advantage! As we look around at our peers in the CDMO market space, not many are going electronic with validation records,” Yoon said. “It is so advantageous as a tech enabler, allowing us to work remotely while improving engagement with each other,” he stated. Yoon discussed how the ValGenesis platform is reducing time and costs associated with paper records archival and how it is helping both company and employees advance more steadily toward Pharma 4.0.
You can learn more about Theragent in this case study
About Sang Yoon
Sang Yoon has over 24 years of experience in the biotechnology, medical devices, and healthcare industries. He commenced his career in medical devices at Baxter Healthcare, Illinois, then to biologics in California. He reinvented himself in healthcare strategy and operations working for Providence Health and DaVita Medical Group. He returned to biotechnology by joining AtaraBio and is currently at Theragent (CDMO). His specialties include quality, Lean, Six Sigma, leadership development, operations, and cell therapy.
