A publicly traded life science company partnered with a venture capital and a growth equity firm to undertake a carve-out of a business unit from the life science company. An independent company was formed and PBO Advisory Group was contacted to help with the establishment and specific on-going management of various operational functions for the new company.
In addition to setting up a QuickBooks account, PBO Advisory was engaged by the new company to serve as its outsourced human resources team. We were challenged to build the proper HR infrastructure for phasing-in over 40 employees during a three-month period. Our client’s biggest concerns included the nuances of a remote workforce located throughout the United States and getting the initial employees on boarded quickly so that they wouldn’t look for employment elsewhere.
Working with the company’s CEO, we deployed an HR team to build the HR infrastructure, including such tasks as:
In the first 30 days of operation, PBO Advisory secured and onboarded 24 employees and created the appropriate on-boarding checklists. Today, the company is nearly 50 employees strong. One of our final tasks was to hire a full-time HR manager for our client. However, we are still called upon to assist with selected HR projects.