Written by: Chandler Conley, Business Development Manager

Pharmaceutical industry projects are some of the largest and most complex many of us have ever seen. We all have a goal to supply safe and cost-effective therapies and products, which is why it is critical to stick to pre-determined budgets and schedules at all costs- pun intended! 

The question is, how is a project cost determined? One way is to consider similar projects as a baseline and point of reference. Did that project stay on budget? Is the cost realistic? How are the deliverables, scope, and processes in this prior project different from the project you are planning for? The process of staying on budget starts in the initial budgeting, proposal, and planning process. Invest the time to be clear about the scope of work for all parties involved and always try to be as realistic as possible to set the team and yourself up for success. Think about what steps are contingent on other steps… will the manufacturer of a piece of equipment have the equipment and accessories delivered in time to meet your deadlines? Are you giving your quality department enough time to review any documents they should? Will any materials or documents that you need to provide the project team be ready by the project start date? Also recall how long safety and onboarding will take for any new employees hired for this project, as this is frequently overlooked in project schedules. 

If you are outsourcing support to any service providers and requesting proposals, your point of contact is thinking about these things and also trying to develop a realistic proposal and schedule for you. I promise- they want to go over budget even less than you do!  

A fundamental part of project costs are hourly rates. This is a double-edged sword. Having a senior/experienced person may be able to complete a task in less time, which is helpful for project schedules and will result in less labor hours charged. That being said, mixing in multiple experience levels can ensure that people with the appropriate experience level are doing the required tasks. There may be some entry level tasks associated with the project, such as document control support and administrative tasks, so these can be good areas to save some money and utilize staff that are more junior. 

We find it is important to allow time for project management in a capital project, so budget should also be reserved for this. Once a project is rolling, a strong Project Manager will manage deliverables and schedules for you and can give regular updates on the project burn rate. They can also be your primary point of contact for the project. Hypothetically, if a team of 10 people are involved, you either have to communicate updates for changes to all 10 people, or you can communicate to the Project Manager who can then ensure the rest of the team gets the communication without taking up any more of your time, which is the option we recommend. 

A typical reason a project may go over budget is because some unexpected tasks were added. It happens! Some things like equipment repairs and major company direction changes cannot be foreseen. The best thing you can do in this case is keep track of added deliverables that were not in the scope and handle change orders as needed.  

In crunch time, resiliency and agility are important team characteristics when project issues occur that will help the team quickly spring back to efficiency. What we do is not easy, but with a proactive mindset, good tracking resources, and strong project management, you will be set up for success! 

Written by: Priscilla Jones, Talent Acquisition Specialist 

Many companies underestimate the importance of onboarding when they hire new employees. Several companies have no formal onboarding program at all, while most that do only have a partially successful process. Why is onboarding important? New employees that go through an unsuccessful onboarding process are stressed, less productive, feel disconnected from the rest of the team, and are likely to look for work elsewhere. This loss of productivity leads to a high employee turnover rate, costing companies large amounts of money.  

What is Onboarding? 

Onboarding is the process of integrating new employees into an organization. Not to be confused with orientation, which is typically a one-day event, that usually begins the onboarding process. Onboarding can continue for months to even years after an employee is hired. Proper onboarding increases employee engagement and helps get them up to speed with seasoned hires much more quickly. 

Without onboarding, it can take several months  for new employees to reach their full productivity levels, which can result in overall loss of revenue  for a business. With onboarding, companies enjoy greater productivity from their new hires.  

The longest onboarding programs are the most successful. Most companies only spend a couple of months on the onboarding process, and a fraction of those don’t include any kind of training for the new hires. A minimum of 6 months is important because most employees decide if they will stay with a company within that time. Training and engagement during this time will help employees feel at home and comfortable in the company. After the initial 6 months, onboarding should slowly shift from a training approach to one that encourages continuous development. This continuous development will help employees see that they made the right decision.  

Employees Feel More Comfortable in Their Roles 

Proper onboarding procedures include training for employees. Training provides people with the knowledge they need to excel in their role. New hires are also taught about the mission and culture of the company, which helps them align themselves with these values. It also helps employees learn how to meet the expectations of the company. If you’re thrown into a job with no idea of what’s expected of you, how are you supposed to succeed? Employees need to know where their job role fits into the company and how their individual position is valuable. 

By aligning new employees with their role, they feel needed and important in the organization. This helps them associate themselves with the workplace culture, which leads to more engagement, employees are motivated to work efficiently, and are much less likely to look for other opportunities. 

Reduces Employee Turnover 

Employee turnover refers to the number of employees who leave an organization and need to be replaced. This is much more expensive than companies realize; the cost of replacing the average employee can be up to 20% of their annual salary. The good news is that turnover is very avoidable. Employees  are less likely to leave a company when they are engaged workers. Where can companies start on developing employee engagement? Onboarding! Introducing new employees to the company and engaging them with company values means they’re much less likely to leave your organization to look for an organization that better fits their work culture. 

Overall, a strong onboarding process results in much happier employees. It helps employees get to know one another and learn how to communicate effectively, which facilitates the building of relationships, resulting in friendships that are a very important element of a happy working life.