Talent Management is about establishing and maintaining Teva’s competitive advantage through its people. It is a strategic imperative and is critical to our sustained performance and continued growth.
The main objective of the Talent Management strategy in to ensure the right employees are in the right positions both now and in the future. This involves the identification, development, motivation and retention of Teva's key talents.
Talent Management includes three main stages:
A preliminary annual screening is conducted to identify employees with high potential to excel. Subsequently, Teva’s managers discuss reviews at the CEO Round Table, and generate Teva’s final Key Talent Pools.
Teva conducts a thorough analysis in order to identify critical positions in Teva that are considered essential to the viability of the business, in the short-term and/or the long-term, and that would significantly impact the overall success of the business if not filled in a timely manner. Critical positions can result from unique knowledge or scarce skills, long integration period, strategic priority, etc.
The Succession Plan matches Teva's key talents with critical positions, ensuring fulfillment of present and future business goals.