While nine in 10 of life sciences executives identify talent management as a key priority, more than three quarters of their employers are not delivering this in practice.

According to research from executive search organisation RSA, these employers are operating without an active talent management strategy in place.

Two in three organisations (66%) have undergone a review or restructure in the past 18 months, with 78% reviewing headcount.

Meanwhile fewer organisations have a formal talent management strategy (up from 67% to 77%), but 79% admit to not using formal talent assessment exercises to identify which employees will face redundancy (up from 62% in 2010), while 38% don’t consider future demand for skills when making staff cuts.

Nick Stephens, chief executive of RSA, says: “Our research shows that the life sciences industry rates people as its biggest asset and understands that it is imperative that they are developed and retained. However the continuing pressures of the recession and major market change are forcing businesses and their HR departments to focus on short-term fixes, rather than long-term strategy.

“The situation has actually worsened since 2010, with a widening gap between actual and best practice when it comes to managing and developing staff.”