Danforth Advisors Expands Support for Emerging Life Science Companies With New Strategic and Operational HR Practice
Danforth Advisors, LLC introduced a Strategic and Operational Human Resources (HR) consulting practice to help life science companies flexibly implement, manage and scale HR functions in line with corporate growth. The new capability complements Danforth’s core Operational Finance and Accounting practice and applies decades of experience and insight into how high-performance life science organizations are built and resourced to successfully advance.
Given the tightly linked nature of HR and finance functions, the new Strategic and Operational HR practice is a natural extension of Danforth’s capabilities. Services range from senior-level advisory to day-to-day execution, and are performed by consultants with extensive backgrounds in growing and scaling life sciences HR functions and capabilities. Further, the HR consultants work with Danforth counterparts on the finance and accounting side to streamline operations, bring clarity to forecasts, build out staffing plans, create compensation strategy and ensure state and federal compliance for clients.
“We are thrilled to offer this new capability, which integrates seamlessly with our finance offering and leverages our knowledge and flexible service model in that area,” said Chris Connors, chief executive officer of Danforth Advisors. “In addition to the challenges of talent acquisition and retention, emerging companies face resource constraints and questions related to size and scope of their operational foundation. With this new practice, we are filling a bigger piece of the puzzle – helping companies build right-sized, expertly-managed G&A functions with an eye towards their future growth.”
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Danforth’s Strategic and Operational HR practice includes the following services, among others.
- HR Strategy and Guidance – Advisory on when and how to initiate the HR function, including strategic planning, execution and on-going support.
- Recruiting Support, Hiring and Selection – Creation of the Employer Value Proposition and support for talent acquisition based on sector-informed knowledge of which roles and skills are needed and when.
- Compensation and Recognition – Application of deep market expertise to help design competitive executive compensation and recognition plans to ensure high-caliber leadership.
- On-boarding and Benefits/Payroll – Supervision and/or execution of key HR processes and materials for employee recruiting, on-boarding, benefits administration, payroll and off-boarding.
- Organizational Development – Recommendation or implementation of processes and programs aimed at building and supporting company culture while improving organizational effectiveness, including team building and coaching.
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