Jeff Aronin advises budding entrepreneurs to build “Companies of Meaning.” Aronin credits that sense of purpose as a key driver of the success of his own companies, including Paragon Biosciences, which he founded to innovate treatments for medical conditions with high, unmet need.
Jeff Aronin notes: “The teams now at Paragon and our portfolio companies have exceptional track records of earning first-cycle drug approvals from the FDA.”
A 2018 Harvard Business Review study points out that workers who find their jobs highly meaningful are likely to be more productive, spending one additional hour per week working and take two fewer days of paid leave per year. And in terms of retained talent, employees are 69% less likely to plan on quitting their jobs within the next six months and have job tenures that are 7.4 months longer on average than employees who find work “lacking in meaning.” (Youtube)
According to McKinsey & Co.: “It’s remarkable how much of a productivity kicker an organization gets from top talent.” Their study found that “high performers are 400 percent more productive than average ones.” In fact, in highly complex occupations, McKinsey reports that “high performers are an astounding 800 percent more productive.”
By building companies of meaning, “We’ve been able to recruit and retain great talent,” said Jeff Aronin, “because what we’re doing really matters.”
Aronin founded Paragon Biosciences in 2017 to take on some of the world’s biggest healthcare challenges. “We’re dealing with life and helping patients live longer… our employees take that responsibility very seriously. And it allows us to recruit great people who want to change the world.”
More on Aronin´s publications at https://www.linkedin.com/in/jeffrey-aronin