Eleonora Makarouna
I/O Psychologist
The pharmaceutical industry, at the forefront of groundbreaking scientific innovation and medical progress, is pivotal in shaping global healthcare landscapes. Beyond its primary mission of advancing medical solutions, pharmaceutical companies increasingly recognize the importance of fostering diversity, equity, and inclusion (DEI) across various dimensions. This commitment extends to their workplaces, communities, and the diverse patient populations they aim to serve.
This article explores the diverse and inclusive initiatives undertaken by pharmaceutical companies, shedding light on a spectrum of activities and best practices employed to advance the mission of DEI. Additionally, we'll examine the role of skills assessments in contributing to and enhancing these efforts within the pharmaceutical sector.
Key Components of DEI Principles
Before delving into the exploration of DEI within the pharmaceutical industry, it is crucial to establish a clear understanding of the terminology commonly associated with DEI. These terms are pervasive, appearing in various contexts, from professional networking platforms like LinkedIn to everyday conversations. While the following descriptions offer a general overview, they conceptually apply to all industries.
Diversity encompasses the quality or state of various factors within a defined group, including but not limited to race/ethnicity, gender and identity, age, physical ability, and sexual orientation. In the workplace, diversity involves cultivating talent and promoting the full inclusion of excellence across the social spectrum. This extends to individuals from backgrounds traditionally underrepresented in managerial, scientific, and STEM roles and those from historically well-represented backgrounds.
Inclusion refers to practices that engage and empower individuals, ensuring their active participation, recognition, and realization of their full potential within a given environment. It goes beyond mere representation to create an atmosphere where everyone feels valued and included.
Equality involves treating everyone equally and providing equal access to opportunities, status, and rights. In contrast, equity focuses on fairness, justice, and proportional representation for equal opportunities. Unlike equality, equity acknowledges and addresses the root causes of distinct challenges, aiming for fair outcomes by designing processes that consider and rectify systemic disparities. This nuanced approach recognizes that fairness may require different treatment for different groups to achieve equitable results.
Industry DEI Realities
Despite the frequent discussions surrounding the principles of Diversity, Equity, and Inclusion (DEI), there remains a considerable distance to cover in ensuring that these principles are not only acknowledged but deeply ingrained in every stage of the employee life cycle and throughout the day-to-day operations of all industries including the pharmaceutical industry.
Recent evidence highlights that significant gaps persist while strides have been taken to enhance diversity and inclusion in the workplace. The reality¹ is that women and individuals from diverse ethnic backgrounds, especially Black and Latinx communities, continue to be underrepresented in corporate leadership positions and Science, Technology, Engineering, and Mathematics (STEM) careers across various industries². Moreover and especially for leadership roles, research evidence suggests that companies with higher diversity in their leadership teams experienced innovation revenue rates 19 percentage points higher than those with lower variety in management³. At the same time, a growing body of research⁴, along with accumulating evidence, consistently indicates⁵ that workplaces characterized by greater diversity and inclusivity tend to experience heightened employee dedication, increased innovation, enhanced hiring standards, improved employee retention rates, and higher profits⁶.
Pharma's Path to Inclusiveness
As the Chairman & CEO of Abbvie suggests, “Developing and bringing innovative, life-saving medicines to patients requires diverse thought and approaches. Bringing together experts from diverse backgrounds and thought is crucial to our ability to deliver today and into the future.”. Along the same lines, the business unit director of Janssen (part of the Johnson & Johnson Family of Companies) suggests that “Embracing diversity, equity, and inclusion in pharma is vital (...) by creating an inclusive and equitable environment where every employee is empowered to bring their authentic selves to work each day, we surround ourselves with a variety of unique perspectives that help create solutions to serve our patients and customers better.". Such testimonies underscore the urgent need for more comprehensive and sustained efforts to bridge these gaps and create truly inclusive environments in the pharmaceutical industry.
In a recent survey by TEconomy, encompassing 18 prominent biopharmaceutical companies, leaders in the pharmaceutical industry revealed key strategies employed by their organizations to champion Diversity, Equity, and Inclusion (DEI), emphasizing the importance of a comprehensive approach. Noteworthy among these strategies are incentives such as Employee Resource Groups (ERGs), recruitment initiatives, the cultivation of an inclusive work culture, the establishment of measurable metrics and accountability, visible leadership commitment, and focused education and training programs. Collectively, these approaches underscore the industry's commitment to fostering a holistic and sustainable environment that embraces diversity and promotes inclusivity.
Transforming Hiring Practices: Bryq's DEI-Driven Talent Intelligence
Guarding Against Bias from the Outset
In light of the key strategies centered around integrating DEI efforts into talent acquisition and management incentives, a crucial focus is warranted in these areas. This is where Bryq plays a pivotal role. The Bryq assessment is designed to sidestep characteristics that could potentially introduce bias, remaining agnostic to discriminatory elements.
Unlike conventional hiring methods that often inadvertently introduce biases, Bryq offers a unique solution by anonymizing the assessment process and removing demographic information from consideration. This ensures that decisions are solely based on an individual's skills, competencies, and potential contributions. Bryq creates a hiring process that provides all candidates a fair and equal opportunity by transcending reliance on resumes and eliminating identifying factors prone to unconscious biases. This approach seamlessly aligns with organizations' objectives to build diverse and inclusive teams. It facilitates the identification of talent based on merit and allows for a more comprehensive understanding of an individual's capabilities.
Harnessing DEI in the AI Age
In the era of artificial intelligence, the imperative to address bias has never been more pressing, underscoring the paramount importance of objectivity to guarantee fairness. Our assessment methodology is steadfastly committed to objectivity, grounded in robust theoretical foundations and thorough psychometric evaluations.
A crucial step in ensuring its fairness is the third-party audit it has undergone for bias, specifically in adherence to NYC Local Law 144. Comprehensive documentation is readily available for those seeking further insight. Compliance with anti-bias standards is a legal requirement and a fundamental ethical commitment. It is incumbent upon all of us to collaborate with organizations that have taken these necessary steps to prioritize fairness and objectivity in their practices.
Sustained Progress in Fostering Inclusion
Emphasizing DEI during talent acquisition is indeed a commendable initial step. Yet, the essence of these efforts should extend beyond hiring and become deeply integrated into the ongoing talent management incentives for employees. The trajectory of an employee's journey, from recruitment to growth and retention, should be guided by the principles of DEI. This ensures a diverse and inclusive workforce and fosters an environment where employees feel valued and supported throughout their career lifecycle.
Bryq's unique approach allows organizations to embed DEI principles into their talent management strategies seamlessly. By continuously monitoring live, measurable metrics through our intuitive dashboards, Bryq empowers its customers to gauge the effectiveness of their DEI initiatives and make informed decisions that contribute to the ongoing enhancement of diversity and inclusivity. This comprehensive integration of DEI efforts from talent acquisition to talent management positions organizations to attract diverse talent and cultivate an inclusive workplace culture that values and supports the growth of every individual within the company.
Conclusion
In conclusion, the pharmaceutical industry is undergoing a transformative journey towards embracing DEI, reflecting a commitment to shaping both medical progress and inclusive workplaces. Recognizing that DEI components extend beyond mere buzzwords, the industry emphasizes their integration into every stage of the employee life cycle and daily operations. While strides have been made, a persistent need for more comprehensive efforts exists.
Bryq plays a pivotal role in this narrative by revolutionizing talent acquisition and management with a DEI-focused approach. By prioritizing skills over demographic information and actively guarding against bias, Bryq ensures fair opportunities for all candidates. Its continuous monitoring and live metrics dashboards empower organizations to assess the effectiveness of their DEI initiatives, fostering a culture that attracts diverse talent and supports individual growth and retention.
Bryq's commitment to addressing bias through third-party audits aligns with the industry's imperative for fairness and objectivity. Compliance with anti-bias standards is not just a legal obligation but an ethical commitment, contributing to a workplace where talent is recognized and valued irrespective of demographic factors. This positions pharmaceutical companies to harness diverse perspectives' richness and innovation, actively contributing to progress toward a more inclusive and equitable workplace.
McKinsey & Company, “Diversity wins: How inclusion matters,” May 2020.
TEConomy Partners, LLC, December 2020.
Boston Consulting Group. “How Diverse Leadership Teams Boost Innovation” January 23, 2018.
McKinsey & Company, “Delivering through Diversity,” January 2018.
L. Cook, & Y. Yang, “Missing Women and Minorities: Implications for Innovation and Growth,” January 2018.
Boston Consulting Group, “How Diverse Leadership Teams Boost Innovation,” January 23, 2018.
