It’s time to rethink performance management and reviews, especially in fast-moving industries like biotech, where annual feedback cycles are too little, too late.
If you only talk about growth once a year, you’re missing dozens of opportunities to coach, redirect, and celebrate.
1) Shift: From Review to Relationship
Modern performance management in biotech focuses on regular, two-way conversations, as opposed to a yearly check-in. These “growth conversations” are:
- Brief (think 30 minutes)
- Structured (progress + feedback + support)
- Frequent (at your preferred capacity)
Determine the cadence and the ‘style’ that’s right for your culture. Maybe it’s bi-weekly, 30-minute conversations. Or perhaps your team prefers informal, frequent check-ins.
2) Do Away with Cumbersome Forms
No more paperwork-heavy systems. As our expert Danforth Advisor HR consultants often say, “You don’t need a form. You need a framework.”
Your New Framework: Train managers to ask questions like…
- What’s going well?
- Where are you stuck?
- What would help you grow this quarter?
Make performance conversations feel less like evaluation, more like mentorship. And when it comes to documentation, don’t overdo it; a follow-up email or shared document suffices.
3) View Growth Conversations as a Talent Retention Tool
When done right, this approach to performance management in biotech leads to:
- Retention boost
- Improved engagement
- The connection between employee development and business strategy
- A roadmap for future success by examining the approach, processes, and practices of previous successes.
Supporting your employees’ growth goals is a win-win for both them and the organization as a whole. Don’t underestimate the value of these frequent, and necessary, conversations!
Ready to Reframe Performance Reviews?
At Danforth Advisors, we’ve partnered with 1,500+ life science companies, preparing them for conversations that matter. Our expert HR consultants understand the nuances of performance management in biotech and can help guide your approach. Contact us to schedule a conversation today.