Core Insights - Attracting and retaining high-quality talent is a primary challenge for companies, with 72% of CEOs identifying talent and skill shortages as major obstacles to business development [1] - The OECD warns that such shortages will severely hinder technological innovation and green transformation, weakening market competitiveness and delaying sustainable development [1] - Companies must move beyond traditional compensation frameworks to create more attractive employer value propositions, focusing on meaningful work and shared missions [1][2] Talent Strategy - Novartis emphasizes the importance of organizational culture as a core competitive advantage in talent strategy, highlighting that top talent values a sense of shared purpose and collective identity [3][4] - The company has redefined its mission statement to foster a more collaborative and inclusive culture, shifting from "reimagining medicine" to "reimagining medicine together" [3][5] - Novartis promotes a culture of integrity, inspiration, curiosity, and breaking down hierarchies, which resonates well with employees [3] Employee Engagement - The company has implemented a "talent matching" program to connect employees seeking new skills with project teams needing support, enhancing both personal development and business needs [7] - Novartis encourages managers to initiate development conversations with employees, fostering an open and inclusive environment for growth [7] Global Localization - Novartis recognizes the need for a "glocalization" approach, balancing global vision with local insights to address diverse employee needs across different regions [8][9] - The company has been on a six to seven-year journey towards global localization, continuously evolving its culture through incremental improvements [9]