Venture capitalists have poured $42 billion into drug development over the past three years. Most small biotech companies rely on venture capitalist funding to develop new drugs but is that a good way to go? not necessarily. VCs invest money in biotech because they see a potential windfall via a profitable acquisition or sale, but when the FDA weighs in with delays, VCs can be ruthless.

One of the reasons it’s a job-seekers market because candidates today want more from their employers. They want a good work-life balance and want to be valued as a contributor to the success of their company. We live in an instant gratification world. Anything and everything we could ever want is at our fingertips, from the food we eat to the movies we watch. Even just waiting a week for delivery seems like an eternity when consumers are accustomed to things like Prime shipping. So why do companies treat the job process differently? Are job seekers inherently more patient than society as a whole?

SUMMARY: I believe the biggest challenge facing pharma companies doesn’t come from legislation or R&D. It comes from being able to recruit and hold onto people who have a passion for the industry and get discouraged by a culture of endless meetings and matrix decision making. Here are some suggestions on how, I believe, pharma can attract and keep great employees.

SUMMARY: Pharma marketing is in a funk. Somewhere over the last decade, the passionate people who believed that helping patients was the first step in excellent marketing have been replaced with people who want to know the ROI of everything. We need to hire people who have a passion for learning, exploring, and implementing great patient-centered marketing. One employee who is passionate about what they do is worth more than five who “check off the boxes” for their position.