Problem
This 10-year-old, sector-leading biotech company was eager to grow and expand its range of life-saving treatments to a global market. The Chief Executive sought support to develop strategies for scaling the business and positioning it as an attractive prospect for multi-million-pound investment. To achieve this growth, the organisation needed to ensure that its business practices reflected a professional, capable, and scalable operation—one that could withstand the rigorous due diligence process that investors would expect.
Solution
We proposed a comprehensive overhaul of the company’s people management practices, focusing on creating a solid foundation for growth while demonstrating to potential investors the company’s strong organisational management and service delivery capabilities.
Our key initiatives included:
- Developing and rolling out an employee handbook with best-practice HR policies and procedures.
- Creating a values framework to drive cultural change and align with the company’s growth objectives.
- Implementing a performance management system to ensure employees were working towards the high-level business goals.
- Revising the basic employment contract to include sector-relevant terms and conditions that support the business’s goals.
- Enhancing the Employer Value Proposition (EVP) to make the company more attractive for recruiting and retaining top talent.
- Developing a reward structure that supported career progression within defined job families, giving employees a clear career path.
- Conducting a skills analysis to identify gaps in the workforce and creating development programmes to address those gaps.
- Implementing resourcing strategies to allow the company to recruit quickly and effectively during periods of growth.
Outcome
After 12 months of intensive work, the business was in a much better place to seek investment and was successful in obtaining multi-million-pound support from an overseas competitor.
Alongside this, the business achieved:
- Stronger talent acquisition and retention: The enhanced Employer Value Proposition (EVP) and resourcing strategies allowed the business to attract and retain top talent, even during rapid growth.
- Increased employee engagement: With the introduction of a performance management system and clear career pathways, employee morale improved, and staff were more focused on meeting the company’s growth objectives.
- Greater operational efficiency: Streamlined policies and a focused skills development plan led to higher productivity and a more efficient organisation overall.
- Sustained growth potential: The business is now well-positioned for long-term global expansion, with the foundations in place to support continued growth and success.
Our approach not only secured the necessary investment but also laid the groundwork for the company’s future as a global leader in its field.