What performance management strategies did biotech firm Onxy Pharmaceuticals implement to fast track growth?
Onyx Pharmaceuticals, a biotech firm committed to the transformation of the lives of people dealing with cancer, was seeking a fast track to growth. In 2010, CEO Anthony Coles hired Kaye Foster-Cheek as Senior Vice President for Global Human Resources to support his growth objectives for the firm. Foster-Cheek successfully recruited top talent and implemented a new performance management system, aligning individual performance with corporate goals. By 2013, with most goals well on the way to being met, the executive team considered implementing an even more aggressive plan for growth through 2020. This case presents students with the details of Foster-Cheek’s organizational design and incentive systems and asks them to consider how the systems should be modified to address new growth targets.
Case ID: 160303