Introduction
In 2019, Pfizer, one of the world’s premier biopharmaceutical companies, engaged Korn Ferry to completely redesign their global talent acquisition function. Following major restructuring and the spin-off of several business units, Pfizer needed to realign talent strategies with their refocused mission on innovative medicines and vaccines—a transformation that would prove prescient as the COVID-19 pandemic soon tested their capabilities.
Client Situation
Pfizer was facing several critical talent challenges:
- Fragmented recruitment processes across 90+ countries
- 27 different applicant tracking systems globally
- Average time-to-hire of 97 days for scientific roles (industry benchmark: 70 days)
- Declining offer acceptance rates (68% vs. industry average of 78%)
- Critical skill gaps in emerging areas (mRNA technology, digital health, AI/ML)
- Employer brand inconsistency following multiple restructurings
- Inability to forecast talent needs aligned with R&D pipeline requirements
Consulting Approach
Korn Ferry deployed a multi-disciplinary team of 32 consultants spanning organisational design, assessment science, talent intelligence, employer branding, and technology implementation. The 18-month engagement followed a four-phase approach:
- Discovery & Diagnostic (3 months)
- Comprehensive talent acquisition audit across all markets
- Competitor talent benchmarking and capability mapping
- Executive interviews with 45 senior leaders
- Current state process mapping and technology assessment
- Talent analytics maturity evaluation
- Candidate experience journey mapping
- Strategy & Design (4 months)
- Future-state talent function design
- Global competency framework development
- Talent intelligence framework creation
- Technology architecture blueprint
- Employer value proposition refresh
- Workforce planning methodology design
- Implementation (9 months)
- Global centre of excellence establishment
- Technology consolidation and implementation
- Assessment and selection methodology deployment
- Talent acquisition team upskilling (450+ professionals)
- Process standardisation and optimisation
- Analytics and reporting framework deployment
- Optimisation (2+ months)
- Performance measurement framework
- Continuous improvement methodology
- Ongoing advisory and coaching
- Quarterly strategy recalibration
Methodologies Applied
- Korn Ferry Success Profiles™ for role definitions
- Four-Dimensional Executive Assessment for leadership selection
- Talent Intelligence Maturity Model
- Employer Value Proposition Canvas
- Strategic Workforce Planning Framework
- Talent Acquisition Maturity Model
- Recruitment Process Optimisation Methodology
- Candidate Experience Journey Optimisation
Outcomes and Value Delivered
- Consolidated 27 ATSs into a single global Workday Recruiting platform
- Reduced time-to-hire by 31 days (32% improvement)
- Increased offer acceptance rate from 68% to 86%
- Achieved $45 million annual savings through process optimisation
- Improved hiring manager satisfaction from 61% to 88%
- Enhanced diversity hiring with 52% of management hires from underrepresented groups
- Established predictive modelling for 18-month talent forecasting
- Created a talent intelligence function, generating quarterly insights reports
- Reduced agency usage by 65%, saving $28 million annually
- Critical role pipelines strengthened with 85% fulfillment within 45 days
- 94% retention rate of strategic new hires at 18-month mark
Client Testimonial
“Korn Ferry’s partnership transformed not just how we recruit but fundamentally changed how we think about talent as a strategic driver of innovation. Their data-driven approach and deep scientific expertise were particularly valuable as we rapidly scaled during the pandemic. The frameworks they established have become core to how we operate and a competitive advantage in the intensifying battle for specialised scientific talent.” — Dr. Yvonne Williams, Chief Human Resources Officer, Pfizer (HR Excellence Awards, 2023)
Key Success Factors
Global with local relevance: Created adaptable frameworks for market-specific implementation
Executive alignment: Secured CEO and C-suite commitment through clear impact modelling
Science-based approach: Applied validation studies for assessment methodologies
Change integration: Embedded change management throughout, not as an afterthought
Business integration: Connected talent strategy directly to R&D pipeline milestones
Technology enablement: Used technology as an enabler, not a driver, of transformation