Background
Talentmark recently partnered with a midsized, family-owned biopharmaceutical manufacturer in Germany, which had been going through a period of significant change. Formerly an OTC- driven business, it was transforming into a rare disease company with a full-fledged value chain, from API to the final product.
Added to this was a further complexity: an ambitious, two- pronged business model embracing its own brands as well as a generics CDMO capability.
The Challenge
During this complex transformational phase, the previous CEO abruptly resigned. This left the leadership team in disarray as the vision and strategy were not universally understood or accepted. Entrepreneurial momentum was lacking but of course, international business partners and regulatory agencies were still expecting the same level of service and professionalism. Realising that additional support was crucial to the company’s future success, the Chairman of the Board reached out to Talentmark in search of our expertise and consultancy.
Solution & Outcomes
Talentmark’s solution included the following integrated elements:
Vision and Strategy Audit
An audit was carried out giving us a crystal clear understanding of the expected outcome of the transformation process therefore enabling us to design the new organisation.
Desired CEO profile and Executive Search
Given the ambitious two-pronged business model and the mission-critical cultural change which was required, we designed both the structure of the leadership team and individual profiles for each senior role. Within a tight time-frame, a tailor-made search approach was defined, which would enable the business to take advantage of Talentmark’s extensive biopharma C-Level candidate network. Leadership assessment tools were used to evaluate candidates against the agreed criteria in the new CEO profile.
Leadership Assessment
Talentmark provided expert counsel regarding state-of-the-art leadership competencies. Combining the client’s requirements with a leadership assessment approach, we were able to pinpoint critical skills and attributes, with a particular emphasis on change management. We used diagnostic tools to establish what future challenges the business would face and the subsequent competencies that would be required by the ten second tier leaders. Beyond functional skills and the role-based differences, we looked into how individuals need to interact as change agents, what they need to know and improve, and how they need to collaborate to ensure a solid leadership framework. This insight allowed us to select the best assessment tool and to find out ‘what good would look like’ in the future organisation.
It was clear that Hogan, a multi-dimensional, well validated, widely accepted profiling tool was the most appropriate diagnostic choice. Talentmark delivered a behavioural assessment which focused on strengths, development, potential and possible ‘derailers’. In-depth, role-specific, half-day discussions with each individual followed. Having these conversations meant that areas of strength and development could be pinpointed at both the individual and the team level.
This information was used by Talentmark to benchmark individuals’ competencies relative to industry best practice and the team average data-set was also shared with the client board for their own use.
Leadership Development Plan and Target Setting Talentmark played aa critical role in onboarding the new CEO, by supplying a leadership development roadmap reflecting the shared vision, which was quickly approved by the advisory board. Individual leadership development goals and
measurements were then agreed for the next two years for each member of the leadership team. This exercise was facilitated by Talentmark, in the form of face-to-face meetings, allowing the new CEO the opportunity to get to know his team members and gain their commitment to become change agents and champion the transformation roadmap.
Organisational Development
An overarching result was the development of a new, collaborative ‘no silos’ leadership charter with a particular focus on quicker decisions and tangible actions. In addition, a culture/value transformation task force was established alongside a new consistent HR strategy which has meant three new senior hires have been identified.
The organisation now has a clear agreed plan for it’s continuing evolution and Talentmark are proud to be an integral part of this transformation.
Talentmark Team
Our consultants have years of experience spanning all functions along the life sciences value chain which have enabled us to design this detailed bespoke methodology, sensitively complete the assessments and provide our client with game-changing insights.