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.

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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!

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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.

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

 

 

 

 

 

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.

Developing Resilience in an Economic Crisis – How Employees Can Show Their Value

 

 

 

 

 

Facing an economic downturn is difficult, especially when you are concerned that your job may be at risk. However, this is a fact that many Americans are now having to face, with 59% of people believing that we are already in an economic recession. If you are concerned about what the future holds for you in the workplace, then we have some advice that will help you retain your value in a competitive market – check out our tips now.

Don’t Stop Doing What You Do

One of the biggest problems that employers say they are worried about is that their teams will stop working effectively due to concerns that they may lose their jobs. If your workplace has started talking about layoffs, then it is essential that you find the strength to keep doing what you are paid to do, as if you don’t, it could have an even worse impact on the company’s finances and your collective future.

Find New Ways to Do Things

Another great way to show your value is to provide your bosses with information that can help them save money. As you go about your work tasks, you are sure to have ideas on how things could be streamlined and developed, and it’s these ideas that are incredibly valuable to your leadership team. If you have ideas about new ways to do your jobs that could benefit the business, then arrange a time to talk to your executives and share your ideas, they will not only appreciate your insight, but you could genuinely help the company push forward even in financially tough times.

Develop Your Transferrable Skills

Some of the most successful people will tell you that they had to pivot to find their success, and this is never more true than in a financial crisis. Rather than panicking about whether your job is safe or not, take the time to be proactive and develop your transferrable skills. Doing this will not only mean you are more employable if you find yourself out of work, but it also means that you may be able to take on a new role within the organization if it is restructured. Talk to your team and your executives to see which skills are most in demand, and then focus on those as your priority.

Talk to the Right People

It’s normal to feel stressed and disappointed when the threat of recession causes your employment to become less safe. However, don’t fall into the trap of moaning and griping with anyone that will listen, as this will not only lower your motivation but will have a detrimental impact on others too. If you do have concerns that need to be addressed, then it is essential that you take them to your superiors and work through it with them in private, helping you to prove that you are a team player who understands the need for change.

Be Realistic About the Future

If you have been told that layoffs are a real possibility, then it may be time to evaluate your position at the company and decide if you want to stay or move on to something new. There is no shame in deciding to leave, but it is important that you find a secure job to go to so that you don’t find yourself in the same position a few months down the line. If you are ready to take the next step into an executive life science position, then get in touch with a recruitment specialist team like GeneCoda®, who can help you make the right decisions and assist with locating positions that offer what you need.

Improving the Health of Your Team – How Better Health Could Mean Fewer Resignations

The Great Resignation, lack of applicants, and low retention rates are all common problems in the life science sector. As the pressure mounts, more employees are feeling burned out and undervalued as leaders work to fund new solutions to problems that feel impossible. Company leaders are not blind to this issue with nearly 50% of chief execs telling the Deloitte CEO survey that being able to find and keep the best employees is one of the biggest problems in talent acquisition right now. Rather than riding this doomed wave, there is one solution that seems to have strength – keeping on top of your team’s mental and physical health.

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Gender Inclusion in Life Science – How Companies Can Appeal to All

The role of women in life sciences has moved forward with pace and the industry now boasts female leaders, female discoveries, and even Nobel Peace Prize winners but is this enough? The stark reality still remains that women are still hugely underrepresented in the upper echelons of life science organizations, with men holding 69% of all executive roles and still being paid more than their female counterparts. As more companies work towards a more balanced gender representation, we took a look at some of the strategies that can be implemented to help appeal to all.

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Hybrid Working Arrangements for Lab Based Roles – How to Make it Work

At first glance, the idea of hybrid working for lab-based roles may seem impossible but the pandemic helped us to see that there are ways of creating a flexible working environment that offers employees the opportunity to enjoy a long-term hybrid arrangement. Find out some of the ways that you can make hybrid models work for your team.

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Improving Treatment with Diversity – Encouraging Minority Groups to Take Part in Clinical Trials

When the FDA shared its findings about the low representation of minority groups in clinical trials and recommend that trials needed to work towards better representation of minorities, many people were quick to argue that there was no substance to back up their recommendations. Yet, when you consider that 75% of the candidates who take part in trials are white, 8% are black, 6% are Asian and 11% are Hispanic it is clear that there is a lot to be done to level the playing field.

Since the findings were published, many experts have now come forward to share why they believe diversity is the key to improved trial outcomes. We’ve shared the main reasons below to provide the explanation that many people have been missing.

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