Three New Years Resolutions That Should Be on Every Life Science List

 

Life science is an area that is experiencing rapid growth alongside huge hiring challenges. Many life science firms have found the past months stressful and concerning, but as we head into a new year, it is a suitable time to set your expectations for what may be in your near future. At GeneCoda®, we work hard to support life science recruitment needs and have come up with three great New Year’s Resolutions that you can use to take your company to the next level – check them out now!

Resolution One – Make a Plan to Beat Burnout

Once the holidays are over, you may find yourself getting excited about heading back into the office along with the rest of your team. However, rather than using up all your energy in the first week, why not take some time to carefully pace yourself to stretch your exuberance over a few weeks instead. This means arriving and leaving at an appropriate time, as well as taking regular breaks to hydrate and eat.

Many employees also head back to work feeling excited to be part of new projects and ideas but can find themselves under huge pressure to perform, especially when their boss is working extended hours and days. Set a good example to your team and insist on a healthy work-life balance for all to get the results you want to see. Many studies show that firms that promote appropriate working hours tend to be more successful and efficient over the long term, with fewer cases of employee burnout.

Resolution Two – Review Your Business Plan

When you first wrote your business plan, it would have been for the time in which you were writing rather than the time you are currently experiencing. Many business owners make it their mission to be up to date on new advances and work hard to diversify as innovative ideas surface. One terrific way to stay relevant without being overly reactive is to review your original business plan and consider which targets are still central to your business now and which are no longer of value.

By doing this, you will be more able to see which trends have seen your company through tough times and need to endure, giving you a clear focus for change over the course of the new year. Remaining relevant in a competitive market is essential but reminding yourself where you started helps to show you the path forward.

Resolution Three – Pledge to Overhaul Outdated Recruitment Practices

HR practices move faster than most other needs in the workplace, with managers constantly working to find the best candidates without a large budget to seal the deal. However, lots of life science firms put all their attention on innovations and discoveries rather than keeping up to date with new hiring trends and candidate expectations.

As the new year arrives, now is a wonderful time to think about your current recruitment process and work out where there is room for improvement. If you are keen to seek outside support with your recruitment needs, then choosing a dedicated life science recruitment service, like the one GeneCoda® offers, will help you keep up to date on recruitment strategies and find you quality candidates.

Look Forward to the New Year With Our Help

To get the best from the year ahead, it is vital that you take some time to pause and plan for the outcomes you seek. Get in touch with the GeneCoda® team and let us show you exactly what you can expect when you opt to use a tailored executive search firm.

Recognizing Hard Work This Festive Season – Knowing How to Thank Your Team

As the year draws to a close, many employers are keen to show their gratitude to their teams for hard work, results, and team spirit. However, knowing what is appropriate to do as a thank you can be hard to work out, especially if you are an executive at a life science firm. Read out tips on Recognizing Hard Work to make your festive thanks run smoothly.

Money Doesn’t Buy Happiness

Buying gifts for all your team members is not only difficult but can be an expensive undertaking. This doesn’t mean that you shouldn’t buy gifts but buying them should not be essential to the wellbeing of your firm. If you feel that it is important to share a holiday gift, take the time to work out the finances first and opt for a selection of gifts to suit individual tastes – remember that not everyone wants a turkey or a bottle of wine!

Take the Time to Listen

What employees want most is to be recognized by a good employer so that they feel they are doing valuable work. The best way to share this recognition is in person and taking the time to share your appreciation during the festive season will leave everyone feeling positive. Share the load with your executive team by splitting your employee list up and arranging informal catch ups. To get the best from the process, you should always start by expressing your gratitude and then take the time to listen to feedback from each person, collating useful ideas and information that can help to inform the new business year.

Celebrate with Honesty

Once you have completed your festive thank you’s, it is time to share an annual summary about your firm, highlighting the things that have gone well and the focus for the year ahead. Many employers pass this information on in meetings, but it is also a good idea to issue a memo or email so that every employee gets to access your valuable feedback. Employers that are grateful for the hard work of their teams but who are also honest about the state of play are more likely to develop confident teams who are loyal even in tough times – time for you to get writing!

Know Your Boundaries

Finally, the holiday season is a time where many people look forward to celebrating with their work peers and putting things that have caused them stress to rest. Rather than being an employer that joins in with every event and stays to the bitter end, remember that giving your teams space to decompress is just as powerful. The best way to handle these situations is to make an appearance at the events, but then leave before the night gets into full swing so that others can enjoy time with their colleagues.

Festive Thanks from GeneCoda®

At GeneCoda®, we feel honored to have so many valuable clients and would like to wish every one of them a happy and relaxing festive break. Should you need any help with recruitment in the New Year and beyond then our team would love to hear from you so don’t hesitate to get in touch today!

Learning Lessons From 2022 – What Every Life Science Firm Needs to Know

All good executive teams take the time to reflect on the decisions made over the course of a year, helping to recognize errors and make strategical changes for the year ahead. If you are running a life science firm then we have shared four of the most important lessons from 2022, helping you to prepare for what’s to come with confidence.

Recruiting High Quality Candidates is Essential

It may seem obvious, but with the financial downturn that looks poised to continue near term, firms must find the best candidates for every role to ensure that business can continue to boom. Many life science firms have struggled to find the right candidate for their vacancies, choosing to compromise instead. Rather than letting these compromises reduce your effectiveness, take the time to check out the recruitment support you can get from expert teams so that you can look forward to finding the right people every time.

Home Working Widens the Playing Field

There has been plenty of shared opinions about home working and whether it should stay or not, with lots of firms taking specific stances on whether they agree or disagree with it. However, we think that 2022 has shown us that flexibility is the only way to succeed, with work from home options offering a larger pool of potential employees to choose from. If you do decide to allow home working for key roles, then remember to take the time to get it all fully checked and approved by HR to avoid any issues from arising in the new year.

Being Financially Savvy Equals Success

Another key learning point from 2022 is that life science businesses need to be as financially savvy as possible to last the new year, especially as there has been an economic slowdown in the industry. With many firms restructuring as they have challenges raising capital, it is a concerning time for many executives and employees but there are things that you can do to lessen the risk. Strategic financial planning, reducing cash burn and licensing or partnering assets with other companies are all ways to keep cash flowing.

Expecting the Unexpected is Vital

Our final piece of advice for life science business owners is to recognize that even with the best planning and preparation, things can change very quickly and result in unexpected outcomes that we may not even know exist yet! By keeping on top of your business model and having contingency plans, you should be able to make it through any crisis that arrives as the new year commences.

Start Your New Year with the Best Support

If you are committed to making 2023 a success for your business, then getting the right support in place is the first and most crucial step. At GeneCoda®, we offer detailed and targeted recruitment support to life science businesses across the country and are here to help you find the right candidates for your needs. Book a discovery call with our team and learn more about what we can do for you.

Using a Brand Strategy to Reach the Best Life Science Candidates

Spending money on staff is always going to be the most expensive part of your business.  As you work hard to invest in the people that can help produce the outcomes you are looking for and as most life science professionals are already employed in the US, finding new talent has become a key issue for firms across the country. In fact, CBRE state that life science has an unemployment rate of just 0.6%, making it almost impossible to discover new talent without a specific and targeted strategy.

Many firms feel that their current recruitment strategy is robust and well designed but if you really want to be a leader in life science, now is the time to create a specific brand strategy that appeals to the people you need – find out exactly what a brand strategy means to your life science firm and start creating yours.

What is a Brand Strategy and Why Do I Need One?

A brand strategy is simply a process by which you manage your company reputation by agreeing a specific format and set of rules for engaging with people. When it comes to using your brand strategy to reach new candidates, you should be focusing on sharing your values and ethos so that people can work out if you are the type of company that they want to work for. Companies that use brand strategies are more often successful at finding and retaining candidates.

How to Build Your Brand Strategy – 5 Simple Steps

If you are ready to dive into brand strategies, then these five simple steps will get you off to a great start:

  1. Understand You Current Brand – before you can start working on a new brand strategy, your first need to find out how your brand is currently seen by candidates and other stakeholders. Take the time to check all types of feedback you have received and consider sharing a survey, allowing you to learn how people view your company.
  2. Work Out What You Want to Change – once you know how you are currently perceived, it is time to map out what you want to change and how you are going to do it. Start by creating a brand strategy goals list before using it to create a road map that will take you to the end point you are aiming for.
  3. Know Who You Want to Appeal to – it’s also important to work out who you want to appeal to when your new brand strategy is complete. Create an ‘ideal candidate’ and consider what they would want to see to join.
  4. Decide What You Will Offer – when you have your new strategy and ideal candidate, you will need to decide what you will offer to entice candidates to apply for your jobs. Differentiators like the team, the platform, ongoing training, flexible work, and other benefits will all work to drive candidates to your door.
  5. Constantly Evaluate Your Success – you may think that once you have created a new brand strategy then you can sit back and enjoy watching your application rates grow but this is not the case. Every great brand strategy involves a continual evaluation process, giving you scope to tweak and grow as your needs change.

Combining GeneCoda® and Your New Strategy – a Winning Combination

If you are keen to start attracting quality candidates to your freshly branded company, then GeneCoda® is the perfect partner. We work with you to understand your specific needs and then suggest specific candidates that we believe will fit your brand perfectly. Get in touch with our team to find out more about what we can do for you.

Supporting Female Success – Creating a Route for Potential Life Science Leaders

The lack of female leaders in the life science industry has been extensively documented over the years, with many people demanding change and routes for women to succeed. However, the fact that some women have broken the glass ceiling does not mean that opportunities are commonplace for women, leaving many believing that companies need to offer explicit routes that women can follow. We examined at what is needed for women to be able to enjoy fair representation in leadership roles.

Continue reading “Supporting Female Success – Creating a Route for Potential Life Science Leaders”

How to Put Mental Health on the Map in Life Science Firms

With falling stock prices and less cash runway, there’s no denying that the life science industry has been through a tumultuous time recently, leaving many employees feeling more stressed and stretched than ever before. Rather than hoping things will ease and return to normal, it is time to put mental health on the map and encourage your teams to consider their health and well-being. Not sure where to start? We have the advice you need!

Continue reading “How to Put Mental Health on the Map in Life Science Firms”

Is Remote Working a Risk When it Comes to Redundancy?

There’s no denying that life science firms are looking for ways to cut spending to navigate a difficult financial climate, with 47% of Americans stating that they believe it is ‘somewhat likely’ that they, or people they know, could lose their job. What does this mean for remote workers, and are they more likely to be laid off before their office-going counterparts? We looked at current viewpoints to get an idea of what to expect.

Continue reading “Is Remote Working a Risk When it Comes to Redundancy?”

The Traits Every Good Leader Needs to Have

Being a leader is not as simple as making decisions and giving orders. There is a wide array of qualities that every leader needs to possess in order to be successful, especially when taking on the management of a company or division. To help you sift through all the candidate resumes on your desk, take a look at the five top traits that will help your new executive achieve success. Continue reading “The Traits Every Good Leader Needs to Have”

Getting Your Team Through a Recession – How to Keep Everyone Motivated

 

 

 

 

 

Motivating Your Team Through a Recession. 2022 has been a time of great uncertainty for businesses; with the rumbling impact of COVID-19 and less cash to play with, businesses now face the pressure of finding ways to do more with less than ever before. The reality of an impending recession has a huge impact on the way employees cope with work, especially if they are concerned that there could be job cuts or reductions in hours. Rather than letting the threat of austerity reduce the motivation of your team, look at some of the ways you can help everyone feel as secure and motivated as possible.

Communication is Key

Perhaps the most important part of keeping everyone motivated is to provide them with lots of detailed communication about what is happening and what actions may be taken to manage the financial downturn. Failing to let people know what is going on can be the catalyst for damaging gossip and speculation, which will leave everyone fearful of what to expect. Remember that this communication needs to be honest but also provide people with hope about their future at the company.

Don’t Encourage Damaging Competition

When there is a potential prospect of having to lay people off, employees will often feel that they have to compete to earn a space in the company’s lifeboat. This competition can result in individuals getting a message that they have to work harder and longer hours to be in with a chance, but this is damaging to their wellbeing and your team spirit. It’s true that as budgets tighten, people will need to find new and more resourceful ways to achieve the outcomes needed, but it’s also vital that individuals do not take this as a message to give up their free time in order to keep their jobs as this will lead to resentment and a lack of motivation.

Take Time to Hear New Ideas

One of the best ways to keep people motivated is to hear what they have to say. When someone is working on the front line, they can often see simple ways to streamline what they are doing so that you can make genuine savings. By allowing your teams to share new ideas about how to keep your business running successfully, you are empowering them and showing them that they are valuable to you – a really motivating message. Plus, with the ideas that get shared, you may find new and exciting ways of doing what you need for less!

Always Be Upfront About Redundancies

Finally, if you are in a position where you may need to lay people off for business continuity reasons, then you must be upfront and honest with people. Continuing to hire and spread a message that everything is going to be ok will only lead to resentment and anger when layoffs start to happen. By sharing that there is a real chance that people may lose their jobs, you are giving your workforce time to evaluate their needs and make the right decision for them. Share the news carefully and professionally, and make sure that you provide people with someone to talk to if they have any queries.  Finally, provide resources such as outplacement where possible.

Choose the Right People to Lead

If you are worried about how to keep your teams motivated during a recession, then you will first need to ensure that you have a team of executives that are skilled at steering the ship through turbulent waters. At GeneCoda®, we understand the pressure on companies and have a number of excellent executive candidates with the skillset you need to pull everyone together. Get in touch to discuss your needs and let us help you find a way through these difficult times.

The Skills That Every Modern Leader Needs to Have

 

 

 

 

As the workplace evolves and times change, so do the Modern Leader Skills necessary for success. We are slowly moving away from rigid job descriptions and traditional hierarchies and working towards a collaborative and forward-thinking process that aims to motivate individuals while achieving the best outcomes. Whether you are new to leadership or have been in a leadership role for some time, it is important to reflect on your skills and work out where you need to adapt and learn. Take a moment to read about the most sought-after leadership skills to help you achieve your goals.

Communication Skills

65% of American workers say that they are satisfied with their job, and we think that communication plays a big part in this. Strong communication skills are vital in the world of work, especially when you are working hard to achieve a happy workforce. From telling the story of your business to sharing messages and getting everyone onboard, you will need to know exactly what to say and when to say it. The best communicators are active listeners to take the information that they are given and use it to further the interests of the business as well as supporting their people. When you are keen to get the best from your team, sharing your message and encouraging open dialogue is always going to be the best way to achieve success.

Empathy & Emotion Skills

In addition to being strong communicators, modern leaders need to be able to be emotionally intelligent and open to creating strong connections with their teams and their clients. Not only do emotionally intelligent people understand the feelings and concerns of others better, but they can also pre-empt and respond to issues before they arise, helping to keep everyone feeling valued and cared for. Being able to know people on an emotional level also gives leaders the capability to assess a person’s strengths and determine appropriate support to help them develop in areas where they are lacking.

Vision & Planning Skills

It’s no longer acceptable to reach a management position and stick to doing the same thing that has been done for many years before. In fact, most companies want their leaders to be able to define their vision and plans for the future before they have even been offered a job! If you are looking to achieve or retain a leadership position, you will need to be able to assess what a company needs right now and what it will need in the future and then plan accordingly. The great thing about this skill requirement is that it is one that requires collaboration with an executive team, working together to help the company innovate for success.

Adaptability

Our final skill is the ability to adapt in the face of change. There’s no denying that the modern workplace is constantly moving forward, and the impact of the economy threatens to topple even the most confident leader. To avoid this happening, you will need to be able to know when to stick to your plans and when to adapt and change. Being able to do this will not only help your business to stay relevant, but it will allow you to get the best outcomes for everyone involved in your company.

At GeneCoda®, we work with companies to find skilled executives to fill leadership roles and support candidates to keep their skills up to date and in line with market demands. If you are keen to discuss your requirements, then our team would love to hear from you – get in touch today and let us help you lead the way.