Pharma is an attractive industry and second fiddle of the medicine. Technical training is highly important and necessary. International Society for Pharmaceutical Engineering believes it takes a village (or multiple departments and employees) to ensure quality outcomes in pharma.
India has a total of 24,000 pharmaceutical companies, of which around 250 falls under the organized category. The growth story of the Indian Pharma & Biotech industry is estimated to be worth $4.5 million, growing at a rate of 8-9% annually and considered as World’s largest pharmaceutical industry in terms of volume.
The top 4 performers companies in India are Monsanto India Ltd., Lupin Ltd., Dr Reddy's laboratories Ltd., Venus Remedies Ltd. The Revenue of Indian Pharma industries is approximately 40,000 crore and it is expected to grow further to 1, 00,000 crore by 2020. The future in pharma is quite bright. Let’s us learn about the 5 new trends about the work culture of Pharmacy companies:
1. The demand for talent: Pharma industry is questing for talented people in the organisation to match with the demands of the industry. The new trends in pharma like 3D printed drugs, Body sensors, artificial intelligence etc., these new discoveries are bringing more competition in the industry.
2. Growth and development: It is a knowledge-based industry, training is a hygiene factor. The organization should also focus on the learning and growth of the employees. They should remain updated about the new discoveries in the pharmaceutical industry.
3. HR Function: The pharma companies are getting in touch with the recruitment firms to attain quality candidates for their companies. The pharma placement consultancies understand the demands of the pharmaceutical industry and try to the higher talent in the limelight. They use social media recruitment; advertise online, use references etc.
4. Market Potential: The Indian Pharmaceutical & Biotechnology industry is a financially stable industry. It is currently in a phase of affective growth given the facts that patents are expiring, new drugs are coming to India and medicine is reaching the deepest parts of the country. It is slowly achieving quality outcomes.
5. Inculcate peer engagement: Does your company encourage peer involvement in quality efforts and empower its employees to learn and transform change for giving quality results? Engagement is an act of balancing employees in the organisation. The companies can use several tactics to foster which will encourage positivity in the organisation. This will also encourage them to will take initiatives for the growth of their companies. At the end of every day, the employees should feel empowered.
The Kaizen philosophy stresses the real experts in any organisation are the people actually doing the work each day, and these employees should be intimately involved in improving their workflows and the quality of the products they produce. Kaizen strives to not only include every employee in process improvement initiatives; it actually puts a structure in place that empowers all workers to implement certain changes related to their jobs. This approach is often viewed as being more effective than funnelling every request up-line for approval from executive management.
If you think, you can boom with your skills and knowledge in the pharmaceutical industry then you should surely have word with the leading recruitment companies in India. They can help you to grab Life-changing opportunities.