Careers & People
Knowing your unknowns
Recent research across multiple industry sectors shows that pharma is one of the most vulnerable in
terms of the potential costs of employee misunderstanding – the issue of staff misinterpreting company
policy or their own job functions, explains Mary Clarke
T
hese are challenging times for the UK those risks. With this in mind, all companies misinterpreted company policy, business
pharmaceutical industry. In March are now looking at their major assets process, job function or a combination of all
2008, a survey by the Confederation and costs with more scrutiny. One of the three. It doesn’t mean someone deliberately
of British Industry (CBI), in conjunction with biggest costs that all UK pharma companies ignoring company rules or doing something
industry association the ABPI, found that are potentially faced with is the risk of they didn’t mean to, for example forgetting
more than 80% of companies expect the employee misunderstanding. However, it can to back up computer storage or putting a
market environment to deteriorate. Since be mitigated against if companies are able decimal point in the wrong place.
then, levels of confidence have been further to identify those employees that pose the For any pharma company, having a
affected by the failure of large financial greatest risk. competent and skilled workforce is arguably
institutions both in the UK and the US. To reduce the impact of employee its greatest asset. However, having just a
In an era of uncertainty, it is vital for all misunderstanding pharma companies need to small number of employees who lack the
senior level management to evaluate the understand its context. The term employee necessary skills, or misunderstanding even a
internal and external risks facing the business misunderstanding refers to actions taken minor aspect of their job, can have a dramatic
and to put steps in place to protect against by employees who have misunderstood or impact. Misunderstanding can occur at all
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