Client Case Study
Situation
This Biotech Company is an industry leader in the field of antibody discovery and development. Over the past 30 years the company has built strong intellectual property, technology platforms, and capabilities to engineer cutting-edge therapeutic antibodies that have the potential to transform medicine and reshape people’s lives.
To capitalize on a significant market opportunity that would have a major impact on the company’s future, the company launched a strategic initiative to develop its Leaders, Managers, and Management Systems. Shortly thereafter, the poor economic conditions affected the company, requiring a workforce reduction and increased workloads for the remaining employees.
The leaders wanted to quantitatively assess the level and breadth of commitment and engagement in the organization. Specific objectives included:
Complications
The biotech company recognized the importance of maintaining a strong, focused team during this critical time. They were especially concerned about:
Approach
We used a best practices employee engagement survey that was initially developed in a landmark study to identify the key relationship between management practices and employee retention. Based upon ongoing engagement research, the employee engagement survey tool has continued to evolve and improve over the last 10 years.
Additional aspects of the approach included:
Results
The feedback from the engagement survey confirmed that the organization is well aligned to achieve its key strategic objectives and that people are highly committed to the success of the organization. It also highlighted issues that could undermine the company’s pursuit of its objectives – especially if there was a shift in the economic conditions.
Key Drivers of Success:
Engagement Opportunities:
While the results of the survey showed a solid foundation for achieving company strategic objectives, there were areas that could impact engagement and retention if not addressed:
Taking Action:
The company wanted to show their commitment to employees with an immediate response to the key problem areas followed by more systemic approaches.
Quick Response:
Systemic Response:
The leadership is in the process of developing more systematic approaches that provide greater focus on career management, communications, and personal rewards.
Human Capital Index
This is the first year that the company has a done an employee engagement survey. It achieved engagement scores that are extraordinarily high compared to a decade of LSA benchmark scores.
The survey results can be clearly attributed to the company’s significant investment in developing its managers, leaders, and individual contributors over the last 10 years.
The survey also highlighted areas where the company has under-invested. Moving forward, the company now has visibility to manage its human capital investments with greater precision and with the ability to measure the effectiveness of their efforts.
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