Retention of highly educated talent is a top priority in biosciences. However, this industry experiences a lot of attrition with talent moving from one firm to another. This makes understanding the levers of attraction and retention of talent a top priority in biosciences.
As experts in this field, PowerUp Leadership takes a measured approach to baseline HR practices and create a phenomenal employee experience to support small to medium sized organizations. Below we outline our top recommendations for organizations in biosciences to ensure their employees are happy and stay committed to their organizations.
Recommendations for Talent Development & Retention
Leadership Agreements: this involves defining the key leadership behaviours, beliefs and values expected of the organization’s leaders, and having each leader sign off on this on an annual basis. This is one way to continue the conversation on what expectations are for leaders in their roles and to discuss ways to put these leadership expectations into practice.
Private External Coaching: Pairing each leader with a credentialed International Coaching Federation leadership coach provides a confidential, safe environment for each leader to work through their challenges, and celebrate their wins with a dedicated coach. This increases resilience, and provide support from a neutral, external third party coach.
Employee Stay Interviews: Every six months to a year having a 30 minute conversation of what each employee is happy about at the organization and where they are discontent is a proactive way to determine how to prioritize talent retention efforts. Are there issues are creating psychologically safe work environments? Are employees feeling supported in their workload and career development by their managers? Are they achieving work life integration? These are all important areas to ask about.
Leadership Development Program: When managers are promoted to a people leadership role for the first time, there is a lot to learn about aligning a team and communicating vision to shape success of the team. It can be so helpful to have these managers engage in a leadership development program that aligns with the organization’s leadership goals and framework.
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