The Organisation of Pharmaceutical producers of India (OPPI) hosted an HR Conclave today on "Talent Attraction - Engaging Gen Y" to address the human resources challenge in the pharmaceutical sector .

The event brought together industry stalwarts, multinational pharmaceutical companies, distinguished academicians and HR leaders from pharmaceutical and allied sectors.

 The pharmaceutical industry is a knowledge-based industry, which is growing steadily and plays a major role in the Indian economy. The country's emergence as an important manufacturing base as well as a market for the global pharmaceutical industry, makes this an attractive sector for young professionals in a wide range of specialties involving drug development, marketing, project management and technology.

The pharmaceutical industry currently employs approximately 4,50,000 people and has contributed significantly in creating a rich talent pool of researchers, scientists, doctors and project managers. 

Addressing the gathering, Ranjana Smetacek, director general, OPPI said, "Gen Y, or the 20-30 age group, today constitutes a major part of the country's workforce and will bring us tomorrow's leaders. The pharma industry also needs to retain and nurture existing talent and equip young workers with the skills and knowledge, necessary for a better understanding of emerging challenges and opportunities."

  The key-note speaker, Dietmar Eidens, executive vice president, Merck Serono said, "Globally as well as in India, the pharmaceutical industry is rapidly undergoing changes. The pace of this transformation has made it important to invest in developing young talent and adapting to their needs. As Generation Y begins to play a more important role in the workforce, the pharmaceutical industry will also need to adjust to the challenging workplace dynamic and cultivate a strong image as an 'employer of choice' ."

The pharmaceutical industry in India has clocked double digit growth rate in the last five years and this is expected to continue in 2014. With several multinational companies operating in this space there are more jobs in the pharmaceutical sector and a great scope for hiring. Dr Shailesh Ayyangar, president - OPPI and managing director, India and vice president, South Asia, Sanofi, added "The very nature of the pharmaceutical business - treating patients and providing integrated healthcare access - will certainly go a long way in meeting key career aspirations of Gen Y, looking for 'social value' and 'instant gratification' in what they do.

Furthermore he mentioned, "Our sector has an edge over others having proven resilience during the economic downturn. Stronger focus on patient well-being; a steadily growing population, per capita income and government expenditure; are promising in terms of potential and experience, for those who are establishing their careers."