Maximizing Innovation Through Impactful HR Outsourcing in 2022
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The concept of focusing on our strengths has gained in popularity in both personal and professional circles, and the data supports that organizations and people who spend more time building on their strengths than trying to improve weaknesses have better outcomes. It’s normal to think with a good process and practice, you can make anything a strength. But what we really need to consider is the opportunity cost related to these investments and how much farther we would be if we built the right team with complementary strengths. As leaders, when the outcomes of an industry mean longer lives and a better world, we can’t afford not to evaluate the very best options.
In 2022, we are entering new ground in life sciences, though it may seem like we didn’t miss a step during COVID. Some segments of our industry received more attention and appropriately deserved more recognition than ever. But many innovators in our industry seemingly went into hibernation. We know the research continued quietly in the labs, and the availability of funding in 2020 and 2021 remained strong. But in 2022, early-stage investments are harder to come by, inflation is impacting the cost of raw materials, and supply chain concerns remain high. For reference, January 2022 represented the lowest number of new financing for Biotech Startups in a decade, according to Pitchbook Data, and both deal volume and size are showing signs that 2022 will be a harder year for emerging companies to get funding. However, well-run companies with good ideas and good people will always find capital. For these reasons, it is more important than ever to optimize your current capital and time allocation and increase focus on your core purpose and strengths.
We know innovation in the life sciences is a long game, and attracting and retaining talent are essential.
At California Life Sciences, we have chosen to utilize ADP TotalSource for our HR and Payroll needs–not only for the quality of benefits and cost savings it provides over ala carte options, but also because it has enabled us to focus on delivering both a world-class member and employee experience. ADP TotalSource provides advantages to smaller organizations like ours through economy of scale and leveraging the knowledge and experience of one of the largest employers in the world to ensure we are doing things the best and right way.
Is a program like ADP TotalSource right for your business? Are you spending more time than you would like to manage HR in your organization? Would your employees prefer better access and options for benefits and employee perks?
In this video, I discuss the value of this type of program with Gilbert Khreich, Vice President of ADP TotalSource, and provide the next steps you need to begin the process of getting answers to these questions through ADP TotalSource.