For the inaugural Best Workplaces in Pharma and Healthcare report, featuring 17 organisations and representing more than 4,000 employees in this sector, delving into the data that makes these results possible is an immensely valuable insight into how these workplaces operate. In an industry facing ever-growing issues with employee retention, it is crucial that the pharma and healthcare industry focus on creating flexible and fulfilling environments for its employees, offering advancement opportunities and attractive benefits for this competitive workforce.
So why does talent choose the Best Workplaces in Pharma and Healthcare, and why do they choose to stay? A look at the statistics makes it a no-brainer.
Adaptability
In any industry, adaptability is a steadfast sign of a strong and solid organisation. For the pharma and healthcare industry in particular, however, a whirlwind 2½ years of the Covid-19 pandemic meant these organisations became the spotlight of media attention worldwide seemingly overnight. This, in turn, led to an increasing need to re-evaluate previous priorities and overcome more than ever before.
Of those among our Best Workplaces in Pharma and Healthcare, 76 per cent of employees agreed that the people they work with “quickly adapt to changes needed” for their organisation’s success. This, compared with just 53 per cent in non-certified organisations, showcases a tremendous focus on adaptability, arguably the most important element of the pharma and healthcare industry. Even in times of uncertainty, these organisations have not shied away from delving into the unknown and quickly evolving with the times.
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Additionally, in a post-Covid world attempting to adjust to the “new normal”, these organisations have continued to go from strength to strength. Seventy per cent of employees surveyed felt that their organisation “celebrates people who try new and better ways of doing things, regardless of the outcome”. This, compared with just 39 per cent agreeing with this in non-certified organisations, proves how these employees are not afraid to try something new, showcasing a definitive vote of confidence and trust between these employers and their employees.
With a focus on organisational development, innovation and adaptation are clearly at the forefront of the Best Workplaces in Pharma and Healthcare’s priorities.
Learning and development
Evidently, the pharma and healthcare industry requires highly skilled workers, oftentimes with years of experience. Having said that, these highly skilled workers don’t wish to remain stagnant in their positions, doing the same menial tasks over and over until they retire. For the most part, they want progression and growth. These organisations must bring vital professional development opportunities to the table in order to prevent complacency and dissatisfaction in the workplace, and in the long run, to avoid paying the costly price of losing exceptional talent.
Based on our results, the Best Workplaces in Pharma and Healthcare are doing just that. Some 71 per cent of respondents said they are offered training and development to further themselves professionally, with the same percentage feeling excellent performance is recognised in their organisation. In contrast, just 58 per cent in organisations who did not certify felt that they are offered sufficient training and development, with just 45 per cent feeling excellent performance is recognised.
A clear road to progression and development goes hand-in-hand with employee satisfaction in a world that is constantly evolving. Making employees aware that their employers care about their progression by giving them a platform for their ideas and feedback is what sets a good organisation apart from a great one.
Trust in colleagues and a sense of pride
For any organisation, building a good rapport among your team is as important as any kind of equipment you could purchase or procedures you could put in place.
This rings particularly true in the pharma and healthcare industry, where huge projects with tight deadlines make that rapport and colleague trust unequivocally crucial. Among our best workplaces, teamwork scored 74 per cent, with an overall sense of “we’re all in this together” at 71 per cent, compared with this same question scoring just 47 per cent in non-certified organisations. This ability to count on colleagues to co-operate fully aids in the process of creating a wholly cohesive and communicative team.
This is especially necessary when considering an organisation’s adaptability — hiring employees who aren’t able to adapt can often have a knock-on effect on other employees, slowing down organisational as well as personal development. Having trust and pride in your colleagues is paramount to productivity and progression as an organisation.
In terms of employee retention, employees who feel a sense of pride in the work they do helps them feel connected to the business as a whole. More than three-quarters (76 per cent) of people employed by our Best Workplaces in Pharma and Healthcare felt a sense of pride in their organisation, compared to just 57 per cent in those who did not certify. Feeling a sense of pride in your work propels any business to maximum success, with fulfilled employees who actually look forward to going to work and want to contribute something meaningful each day.
- Rachel McLoughlin is marketing co-ordinator at Great Place to Work