Propelling Innovation with the Right Mix

Propelling Innovation with the Right Mix

BIO represents pioneers in the world’s most innovative industry. It’s our job to support and advocate for our members as they pursue cutting-edge scientific and technological advancements — from finding new ways to treat cancer to enhancing the very food we eat to creating a sustainable environment.

Lately, our members have been asking for our help to innovate in other ways. A modern industry calls for modern leadership, and BIO members value the kind of diverse and inclusive leadership and boards that can catalyze disruption.

That’s why we’re launching a new initiative — The Right Mix Matters campaign — to support our members in building and growing more diverse leadership and workforces. The Right Mix Matters was developed by BIO’s Workforce Development, Diversity, and Inclusion Committee, chaired by Dr. Helen Torley, CEO of Halozyme, with the BIO staff leadership of Joanne Duncan, president of BIO’s Membership and Business Operations Division.

Leadership that represents a broad sweep of experience, perspectives and backgrounds is likely to produce products more in tune with what the marketplace is seeking—because the marketplace, itself, is made up of patients from many different cultural backgrounds and experiences. Many biotech companies are eager to find resources to groom next-generation leadership teams as diverse as the clinicians and families they’re trying to reach. In the end it is a win/win for business and for patients.

At RightMixMatters.org, BIO members can access the first of many forthcoming resources to boost diversity and inclusion in our industry:

  • The BIO Boardlist – an online portal of curated talent that connects a diverse pool of highly qualified leaders with opportunities to serve on private and public company boards. The BIO Boardlist provides detailed profiles of talented, board-eligible candidates in various demographic groups who have extensive experience in the biotech industry. CEOs and/or board members can nominate board-ready candidates for the BIO Boardlist. Once vetted and approved, candidates become part of the BIO Boardlist, where CEOs and board members can discover them through a search feature.
  • The BIO Diversity & Inclusion (D&I) Toolkit – a set of practical tools that supports company leaders, employees, and HR professionals in the development of programs, procedures, and best practices to build diverse leadership and workforces. The toolkit includes proven resources developed and vetted by member companies.

“Our industry is stronger than ever before, and there is a collective sense of excitement about the future of biotechnology,” said Dr. Torley. “Continued progress requires an unprecedented level of innovation and problem-solving — and this is best achieved by tapping into multiple and diverse perspectives and experiences. BIO’s new tools address specific barriers biotech leaders tell us they face today in building diverse and inclusive teams and boards. I believe these tools will lead to improved development and increased visibility of talented leaders from diverse demographic groups.”

According to the 2018 Why Diversity Matters report by McKinsey & Company, companies that rank in the top 25% for gender diversity are more likely to have higher financial returns than less diverse companies.

“BIO members know that diverse teams are critical to the long-term success and innovation of any organization,” said Jim Greenwood, president and CEO of BIO. “Our members are looking for tools and resources to foster diversity, from the ground floor to the C-suite, and we’re happy to unite biotechnology under one vision. Our tools are designed to supplement competitive teams interested in remaining at the forefront of our industry.”

You’re competitive. Innovative. Your company is on the cutting edge. The best future is made with the right mix. Find tools to help you get there at RightMixMatters.org

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