case study: ZymoGenetics

Biotech leader protects reputation as employer of choice in the face of significant RIF

Challenge:

In November 2009, Seattle-based biopharmaceutical company ZymoGenetics made a significant strategic decision to shift its investment in drug development toward supporting its commercial drug introduction effort. This precipitated a reduction in force (RIF) of fifty-two employees and included employees ranging in title from “bench research scientist” to Vice Presidents. To help facilitate this complex transition for the company and the broadly-impacted employees, ZymoGenetics retained Waldron for its extensive experience and first-class reputation in career transition services and in helping to plan and manage large-scale RIFs.

Solution:

Waldron’s work with ZymoGenetics spanned three phases: 1) planning for the RIF; 2) supporting the notification process; and, 3) providing individual career transition services to the impacted employees. Waldron enhanced ZymoGenetics’ ability to conduct the challenging reduction effectively, while also maintaining their reputation as an employer of choice with current and former employees, and more broadly within the life sciences community.

In the initial phase, Waldron partnered with ZymoGenetics’ human resources team to review and plan notification logistics to ensure the event’s location and notification sequence would be well organized, respectful of employees, and culturally appropriate for ZymoGenetics. In addition, Waldron conducted management training sessions to align involved leaders on the notification’s key messages and effective delivery methodology. Throughout the planning process, Waldron consultants responded efficiently and flexibly to the constantly-evolving plan and the human resources team’s needs.

On notification day, Waldron consultants were on site enabling an open and safe environment for impacted employees to think about the next step in their transition. As a result of the consultants’ presence, ninety-three percent of transitioning employees that had not already secured a position engaged services with Waldron, redefining their status as job candidates.

In the third phase, Waldron built customized career transition services specifically for the ZymoGenetics candidates, incorporating their skills, interests, and professional preferences in developing job search strategies. Through strategic research and targeted network development, Waldron identified potential target employers, aligning candidate and organization characteristics, a key value-added benefit to this highly-educated and technically-specialized group. Leveraging its strong community reputation, Waldron also expanded candidates’ reach and marketability by developing personalized contacts, networks, and job leads to facilitate access to potential employment opportunities. The customized services also featured four well-attended, strategically aligned seminars and a well-timed career fair featuring high employer attendance in spite of the recession market environment. At the career fair, over forty candidates leveraged the opportunity to network with recruiters from over fifteen biopharmaceutical and research-related organizations.

Results:

As a result of the collaboration with Waldron, ZymoGenetics was able to successfully navigate the strategic transformation with no lasting negative impact to their reputation as one of the highest quality employers. With the support of Waldron, over fifty percent of the candidates secured new employment opportunities in less than four months. Additionally, ZymoGenetics was able to promptly secure completed separation agreements from all of the impacted employees.