In this economic climate, it's more important than ever for biotechs to carefully consider who they bring into the company and how they foster talent. Employees can make or break a project, so it's essential that companies plan their talent search with as much detail as they put into developing that project. But this can be a daunting task for small and larger companies alike. I'm sure many managers can recall incidents where the they company had high hopes for a new hire that later fizzled due to a clash of egos, a mismatch of talent and job tasks, an employee uncommitted to the company culture or vision, or because the employee just didn't fit within the team. BIO's panel on How to Grow and Retain Your Biotech Dream Team provided some insights your counterparts have found essential to mold personalities and talent to become the team you need.
Moderated by Larry Tyler, president of the Tyler and Company recruitment agency, panelists included Lisa Kelly-Crosswell, senior VP of human resources for Vertex Pharmaceuticals, Mark Lyles, senior director of medical affairs at Amicus Therapeutics, Shawn O'Brien, CEO of Profectus BioSciences and Chad Womack, president and executive director of Philadelphia Biotechnology and Life Sciences Institute.
Before hiring, consider your endpoint. What's your company's purpose? A company needs to know and believe in it's vision so that can be communicated to prospective hires. "The endpoint is critical," notes O'Brien. "People have to believe in what you're doing." A dream team is defined by the outcome. So don't just identify your endpoint; define the purpose of the task too. Understand how a task will need to be completed and what talent and skill set the team will need to complement that task.
Kelly-Crosswell's added that each project has to have some leaders or "stars," your "supporting cast" and a system that embraces the people in both rolls. All three parts are essential to growing a stellar team. But, according to O'Brien, to make this all work, you also need alignment. It's not enough that you know who your star players are; each team member needs to know where they fit.
Where do we find our team? The easiest place to start is within your network--family, friends, company employees or industry counterparts. If you're going to go this route, make sure your personal feelings about the candidate don't your judgment. Critically examine their skill set and make sure it's aligned with your needs. And the search doesn't have to start when you're ready to hire--make things easier by building a workforce pipeline even when you have no vacancies. Recruiters are also a good option, as they may identify personality traits or the aspects of a candidate's background that you may not have the time or resources to identify.
Now that you've assembled these players with all the right skills, you can sit back and watch the dream team do its thing, right? Wrong. Dream teams aren't hired, they're grown. Are you fostering a culture that makes people want to stay? Even better, is your company one that people continue to talk about and feel a part of once they leave? Cultural events, incentives and team building are all important. Equally important is making sure the higher-ups are keeping their team in the loop and ensuring each member feels valued. This is especially important now as industry-wide cutbacks mean employees are being asked to do more with less.
Maintaining a good work environment and molding a good team also means identifying and dealing with those who aren't contributing to the project, or whose personality doesn't align with the company culture. Pay attention to your employees and their needs. Perhaps they need more training, a better understanding of their tasks or just some encouragement. But don't be afraid to fire, and fire quickly, urged O'Brien. And remember to give yourself a break, adds Kelly-Crosswell. "There's a saying that if you're right about a new hire 50 to 60 percent of the time, you're doing a fabulous job."
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