Financing constraints, the desire to maximize capital efficiency and reduce burn rate, are all factors biotechs are thinking about in launching and maintaining leaner teams. What does this mean for HR professionals, leaders and employees?
For leaders and HR, the impact is fourfold:
- Hire for both expertise and mission alignment to foster resilience. First, hiring has to be focused on the combination of technical acumen and mission alignment. When a team is leaner, team members feel it day to day – both the pressures of the job and the pressure of often being the only person capable of doing that job, which may at times get in the way of taking time off to recharge. When team members feel a genuine passion for the work they are doing, they will exhibit greater resilience and grit.
- Proactive team management sustains engagement, growth, and retention. Second, continuous management of a small team is a must do. This can take the shape of ongoing stay interviews, learning and development opportunities (can be in the form of exposure to parts of the business that they may not otherwise see in a larger org), and making sure to celebrate achievements and wins along the way.
- Plan ahead – cross-train and build contingencies to protect team continuity. Third, leaders, together with their HR partner, need to take a risk management view of a lean team and create plans B and C. For example, when single point of knowledge takes an unexpected leave, don’t be caught flat-footed. Have a plan, including cross training and having your talent acquisition partners on speed dial.
- Be clear about how learning and career development take place. In small organizations, upward mobility can be limited. Ensure development plans help individuals continue to grow. Think more individual, less “cohort”. Amplify the exposure one gets in a small company such as presenting at a board meeting, doing a day in the life of in a colleague’s team to learn and leverage small, bite-sized learning like lunch and learns to accelerate learning and connection without substantial time or capital investments.
Building and sustaining a lean biotech team isn’t just about hiring smart—it’s about planning ahead, fostering resilience, and ensuring long-term success. Companies that proactively enable talent, focus on engagement, and mitigate risk will be better positioned to thrive in the ever-evolving biotech landscape.