Fishawack Health gets a fast start to impacting business goals with Fuel50
Fishawack Health is the leading global commercialization partner for the modern life sciences era. Powered by a global pack of strategic, creative, and scientific experts, they are driven to connect patients and healthcare professionals with the knowledge that they need to live better lives.
By bringing together best-in-class capabilities from around the world, Fishawack Health empowers their clients—global pharmaceutical, medical device manufacturers, and emerging biotech and healthcare companies—to navigate the most complex of ecosystems while embarking on a faster, more efficient path to developing, launching, and growing their brands and portfolios. They support clients from across the life science industry, including leaders in pharmaceuticals, biotech, medical device, and digital health.
Fishawack Health is growing fast and plans to expand by a further 2.5x in the next year. The challenge is that there is a small talent pool of highly skilled professionals in their very competitive industry.
Fishawack Health has been competing for talent within a small talent pool through mergers and acquisitions and external recruitment. However, these efforts alone were not enough to deliver the fast growth that Nick Holmes, Global Head of Professional Development at Fishawack Health, and his team were after. As a result, their overarching talent strategy needed to evolve.
What they needed was a way to scale skill identification in a highly acquisition-focused environment. They also needed to understand what skill gaps they will need to close to be future-ready.
Nick Holmes came to Fishawack Health with an innovative plan. He made the business case for Fuel50 before starting in the job and is now working through implementing it as he onboards, giving him a fast start to impact company goals.
"Fuel50 is fundamentally critical to our professional development strategy.... The people we’re competing with for the same talent pool won’t have anywhere near the same level of investment in career development that we will have, leveraging the power of Fuel50." – Nick Holmes, Global Head of Professional Development
Ultimately, Fishawack Health was looking to find a way to future-proof its workforce. They wanted everyone across the organization to have a clear path for their career. They wanted to enable and support career development and reskilling, throughout their organization, to ensure they are attracting and retaining talent. And they wanted to increase the opportunity for internal recruitment and talent mobility.
"Fuel50 is the most exciting piece of HR tech I’ve ever seen... Fuel50 is a catapult for our professional development strategy, which should massively impact two areas. One, our ability to attract great talent and two, the ability to retain it."
HR Tech Stack
System of Engagement: Fuel50
Nick Holmes has chosen Fuel50’s AI Marketplace for a central role in Fishawack Health’s growth. As part of their overarching professional development strategy, Nick and his team want to create a ‘super learning environment’ where they put their employees at the heart of their careers.
As a result, Fuel50 will be implemented as a centerpiece in their new HR Infrastructure.
"Fuel50 gives us the opportunity to build that environment because you’re springboarding off to different elements, different places to go gather and grab learning at any different point. As part of the onboarding process we’re going through now it’s becoming really clear that it’s actually going to be really easy to achieve." – Nick Holmes, Global Head of Professional Development
The Fuel50 Talent Marketplace platform works to scale talent identification (by broadening the internal talent pool) and scale talent alignment by increasing visibility to opportunities. These processes and strategies are proven to positively impact employee engagement and retention, to achieve workforce mobility.
Fishawack Health’s people development strategy is centered around Fuel50. Employees will gain visibility to career paths they never expected to see before and understand how to have better relationships (or networks) at work.
"We’re able to say to people around the organization that, ‘When we implement Fuel50, you’ll have a completely different way to engage with your career, to see different opportunities, take on different skills, connect with people in different ways'." – Nick Holmes, Global Head of Professional Development
"There are so many dimensions and elements to Fuel50. It covers a lot of ground for us, which is why it’s number one in our strategy pillar."
The aim is for Fuel50 to have a significant impact on Fishawack Health’s ability to attract and retain great talent. They are working towards the goal of a 98% retention rate, rather than the low 90s or high 80s.
"Fuel50 is the pillar to be able to drive all that. I think you will very clearly be able to see the breadcrumb trail, all the way back to this moment of launching Fuel50." – Nick Holmes, Global Head of Professional Development
At an aggregate level, Fuel50 sees a 60% reduction in employee churn across multiple clients, with employee attrition dropping from an average of 24% churn to 15% where Fuel50 is regularly utilized by employees.
"Fuel50 allows us to build a super learning environment where we put the employee at the heart of their career. ... We’re really looking forward to leveraging the full power of Fuel50." – Nick Holmes, Global Head of Professional Development
Together, we have a vision for how Fuel50’s AI Talent Marketplace solution can support Fishawack Health meet its people experience objectives by:
• Providing insight into Succession Planning
• Offering Coaching Opportunities to leaders
• Increasing Internal Recruitment
• Increasing Talent Mobility
Fishawack Health and Fuel50 are excited about what the future holds in store for their people and their organization as this new professional development strategy takes shape.