Baybio Panel: The New Norms of HR [7 April 2010]
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TriNet was invited to host a panel on some of these HR challenges during the conference, and we were excited to facilitate a great discussion between CEOs with growing companies and the 20-25 attendees in the session. We talked about the “New Norms” in HR including growing healthcare and benefits costs, attracting top talent, and the implications of mergers and acquisitions. See a video excerpt from our panel at http://www.youtube.com/watch?v=dIqB9MacLos
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Baybio Panel: The New Norms of HR [7 April 2010]
- 1. Human Resources Strategies: Defining the New Norms April 7, 2010 3:50 – 5:05 PM
- 2. Panelists Bruce Cohen President and CEO, VitaPath Genetics Steven R. Deitcher, M.D. President, CEO and Board Member, HanaBiosciences, Inc. Elisa Yu Vice President Operations, CPC Scientific Jack Midgley Vice President Products, TriNet
- 3. The “New Normal” ? Escalating Costs of Healthcare Benefits What will healthcare reform really mean for the industry? How shall bio companies respond to escalating costs? Increased Mergers & Acquisitions What does this mean for employees and management? How shall we set expectations and manage outcomes? Challenges Around Hiring & Retention How shall we attract and retain the right scientific, technical and business talent? Increased Outsourcing of “Non-Core” Functions What stays – and what goes?
- 5. Wait Periods
- 7. Adoption of HDHP vs PPO
- 9. After 2014:
- 10. Pay the Fine?
- 11. Encourage Employees to Buy Through Exchanges?
- 12. Changes in Perceived Value of Employer-Sponsored Plans?Average Annual Health Insurance Premiums and Worker Contributions for Family Coverage 1999 -2009 $13,375 132% Employer Cost Increase $5,791 Source: http://ehbs.kff.org/pdf/2009/7936.pdf
- 14. 2009 had highest deal volume (193) and 2d highest deal value ($47B) since 2000
- 15. 18% of biotech targets had disclosed revenues at time of announcement
- 16. Four companies announced multiple acquisitions :
- 17. GSK(4)
- 18. Amgen (2)
- 19. Lilly (2)
- 20. Genzyme (2)Biotechnology Mergers and Acquisitions 2000 – 2009 Number of Deals by Year 2000 - 2009 Source: Leading Biotechnology Mergers and Acquisitions for the 10-Year Period Ended December 31, 2009 Revealed by DealSearchOnline.com; 31 March 2010
- 22. What challenges surround scientific, technical and business hiring?US Hiring Index 105 -2Since January TriNet Hiring Index 93 -7Since January