Last updated on Mar 25, 2024

You need to set performance goals for your biotech team. What questions should you ask?

Setting performance goals for your biotech team is a crucial step to ensure that your projects are on track, your team members are motivated and engaged, and your results are aligned with your organization's vision and mission. However, setting effective and realistic goals is not always easy, especially in a dynamic and complex field like biotechnology. To help you, here are some questions you should ask yourself and your team before you define your performance goals.

1 What is the purpose of your goal?

The first question you should ask is why you want to achieve a certain goal and how it relates to your team's and organization's objectives. This will help you clarify the scope, relevance, and impact of your goal, as well as avoid setting goals that are too vague, ambitious, or irrelevant. For example, if your goal is to develop a new diagnostic tool for a specific disease, you should explain how this will contribute to your team's research agenda, your organization's innovation strategy, and your target market's needs.

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John Hosier

President | Chief Strategy Officer | Board Member | Mentor | Advisor | Adjunct Professor
1)Identify the Goal. Clearly define the specific objective/outcome to be achieved 2)Understand the Context. Consider the broader context in which the goal exists 3)Assess Impact. Understand the significance of the goal 4)Define Stakeholders. Identify those who will be affected or involved 5)Articulate the Purpose. Concise, meaningful, and aligned with the broader mission or vision of the proj. or org 6)Refine/Align. Review the purpose statement to ensure it reflects the goal and its intended impact 7)Communicate/Rally Support. Communicate it effectively to relevant stakeholders and potential collaborators 8)Monitor/Adapt: Continuously monitor progress and be prepared to adapt as needed based on circumstances, feedback, or new insights
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Rajeev Vishwakarma

Senior Manager @ Genesis Research Group | Payer Research Expert | Stakeholder Relations
We are into it. The purpose of the goal is to understand where one wants to progress. Personally and Professionally. Each goal selected/ defined should cover these two aspects. A vision of how you want to see 6/12 months from now is important. As new team members find it hard to have the vision, we as mentors should help them, not just define the goal, but achieve it as well.
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2 How will you measure your progress and success?

The second question you should ask is how you will track and evaluate your performance against your goal. This will help you establish clear and quantifiable criteria, indicators, and milestones that will enable you to monitor your achievements, identify challenges, and adjust your actions accordingly. For example, if your goal is to develop a new diagnostic tool for a specific disease, you should define what metrics you will use to measure its accuracy, reliability, and usability, as well as what deadlines you will set for each stage of the development process.

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Rajeev Vishwakarma

Senior Manager @ Genesis Research Group | Payer Research Expert | Stakeholder Relations
Goals should be set with metrics in place. A Goal should not sound like a wish, it should have a time element. Metrics can be decided based on what one is trying to achieve.
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Asif آصف

BD&L Expert for Pharma Healthcare & OTC | Concept Idea Portfolio Planning | Driving Growth | Orchestrating Market Entry and Building Profitable Relationships | Creating Strategic Alliances for Market Leadership
Increase the efficiency of laboratory Improve the success rate of experimental trials by Z% through better experimental design, data analysis, and interpretation.Increase the number of patent applications filed by the team by A% within the next year, demonstrating a commitment to innovation and intellectual property development.Enhance cross-functional collaboration with other departments, such as marketing or regulatory affairs, to ensure seamless integration of research findings into product development pipelines.Enhance the team's contribution to the company's strategic goals, such as achieving regulatory approvals for new products, securing funding for research initiatives, or expanding market presence.
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3 What resources and support do you need?

The third question you should ask is what resources and support you will require to accomplish your goal. This will help you assess the feasibility and sustainability of your goal, as well as plan for the allocation and mobilization of the necessary inputs, such as time, money, equipment, materials, and personnel. For example, if your goal is to develop a new diagnostic tool for a specific disease, you should estimate how much time and money you will need to conduct the research, testing, and validation, as well as what equipment, materials, and staff you will need to access and use.

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4 What are the potential risks and challenges?

The fourth question you should ask is what are the potential risks and challenges that could hinder or delay your achievement of your goal. This will help you anticipate and mitigate the possible obstacles and uncertainties that could affect your performance, as well as prepare contingency plans and alternative solutions. For example, if your goal is to develop a new diagnostic tool for a specific disease, you should identify what factors could compromise the quality, safety, or efficacy of your tool, such as technical glitches, ethical issues, or regulatory barriers.

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John Hosier

President | Chief Strategy Officer | Board Member | Mentor | Advisor | Adjunct Professor
A challenge that can’t be overlooked: reimbursement. Reimbursement is integral to the success of new product launches in Healthcare. Reimbursement impacts market access, revenue generation, competitiveness, investor confidence, clinical development strategies, pricing decisions, and regulatory approval processes. A related but separate challenge: actual cost to the end user, the patient (if self administered) or provider/office/health system (if HCP administered).
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5 How will you communicate and collaborate with your team?

The fifth question you should ask is how you will communicate and collaborate with your team members throughout the goal-setting and goal-achieving process. This will help you foster a culture of trust, transparency, and accountability among your team, as well as leverage the diverse skills, perspectives, and feedback of your colleagues. For example, if your goal is to develop a new diagnostic tool for a specific disease, you should agree on how you will share information, coordinate tasks, and solicit input from your team, as well as how you will recognize and reward their contributions.

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John Hosier

President | Chief Strategy Officer | Board Member | Mentor | Advisor | Adjunct Professor
Core and Extended team meetings can be powerful to ensure that everyone is aligned, but resist allowing these meetings to turn into a line-by-line status update of a Gannt chart. More than likely, every member of the team is managing multiple responsibilities and tasks-- no one wants to sit in a meeting that could have been an email update.
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6 How will you review and revise your goal?

The sixth and final question you should ask is how you will review and revise your goal as you progress and learn from your experience. This will help you ensure that your goal remains relevant, realistic, and responsive to the changing needs and expectations of your team, your organization, and your stakeholders. For example, if your goal is to develop a new diagnostic tool for a specific disease, you should schedule regular meetings with your team and your supervisor to evaluate your performance, celebrate your achievements, and identify areas for improvement.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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You need to set performance goals for your biotech team. What questions should you ask?

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1 What is the purpose of your goal?

2 How will you measure your progress and success?

3 What resources and support do you need?

4 What are the potential risks and challenges?

5 How will you communicate and collaborate with your team?

6 How will you review and revise your goal?

7 Here’s what else to consider

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