The New Reality of work for Health & Pharma Sector
As part of its recognition lists announcement, Great Place To Work® India has recently announced India’s Best Workplaces™ in Pharmaceuticals, Healthcare and Biotech 2022 as their 1st edition of the recognition announcement. The global authority on workplace culture, Great Place To Work®, assesses various organizations as a part of their research, based on which the companies get identified as Best Workplaces, every year.
This year, 70 organizations in the Pharmaceuticals, Healthcare and Biotech sectors undertook the assessment, basis which the research indicates an overall industry comparative analysis of leadership effectiveness, trust and innovation between the best workplaces and the rest. Back in the years before the pandemic, the employee engagement of the industry was amongst the least favorable. Over the last 4 years, the pandemic moved the Pharmaceuticals, Healthcare and Biotech industry into the limelight where the engagement levels moved up by 11 bps – 3 bps higher than the average increase of India inc.
Despite the organizations in the Healthcare and Pharmaceuticals sector experiencing high challenges and crisis at the time of the pandemic, the companies have ensured that they create a High-Trust, High-Performance Culture™ leading to sustained growth even during the most dynamic times.
Workplace culture has become paramount for Pharmaceuticals, Healthcare and Biotech sector and it is imperative for leaders to recognize the key differentiators and the several challenges faced by the employees in the workplace. A great workplace is based on the foundation of Trust and embeds meaningful Values and Effective Leadership such that the organization can maximize its human potential, that ultimately results in innovation by all and financial growth. For creating a fair workplace Leaders must ensure, keeping fairness at the forefront of their organizational values and building a culture of zero-tolerance toward unfair treatment. To foster the best workplaces, there are 3 key differentiators – employee benefits, caring work environment, employee growth, and autonomy.
Ms. Yeshasvini Ramaswamy, Serial Entrepreneur & CEO, Great Place To Work India said, “It is common knowledge that the pandemic has created a seismic shift in the landscape of workplace culture. More employees are looking for leaders who role model, care, and encourage flexibility. Great workplaces show a genuine commitment to nurturing disruptive innovation. In the Indian diaspora of biotech, healthcare, and pharmaceutical industries, workplace culture and employee engagement strategies are evolving. According to our study, contrary to popular trends, when compared to previous years, employees are experiencing a lower sentiment in their overall employee experience.
She also said, “We encourage more leaders to invest in their workplace culture and catalyse it as an incubator for the success of their organizations. Intentional collaborative work cultures especially in healthcare companies often lead to better solutions that can benefit the world at large. What will help organizations more than ever is a strong focus on developing effective leaders, promoting a mindset of equity and inclusion, and setting a strong foundation to encourage curiosity and new thinking at their workplace. Best Workplaces in Pharmaceuticals, Healthcare and Biotech have excelled at focusing on all three aspects.
Congratulations to all our winners for this coveted recognition. I am sure your journey has been enriching, engaging and thought-provoking. We appreciate your steadfast commitment to our movement of making India a great place to work for all”
Great Place To Work India has released the list of winners called India’s Best Workplaces in Pharmaceuticals, Healthcare and Biotech 2022 highlighting key differentiators and challenges and what sets the Best Workplaces apart from the rest. The complete list of India’s Best Workplaces in Pharmaceuticals, Healthcare and Biotech can be viewed here.
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