Online survey reveals a decline in remuneration in most of the pharmaceutical companies
Employees in the pharma and healthcare companies, the mid-level management team in particular, are not happy with the pay packages they are getting from their respective organisations.
In an online survey, 60 per cent of senior managers, executives and group leaders in pharma and related segments felt their pay was not commensurate with the responsibilities they are handling. The survey revealed that remuneration has been on the decline and most of the pharma companies are reporting declining trend in the sales.
Close to 50 per cent employees at the mid-level management including senior executives, managers and group leaders feel that politics still exist in organisations impacting their performance and career growth.
The survey revealed that 62 per cent of the employees were not satisfied with their job as shown by their negative responses to the question on job satisfaction citing variety of reasons.
The survey was conducted by online healthcare and life sciences jobsite HarNeedi.com, part of the city-based Makro Group, in the form of a questionnaire administered to 400 employees handling crucial positions in the mid-level management of pharma, biotech and clinical research organisations.
The respondents were from production, quality assurance, research & development, sales & marketing and regulatory affairs.
The survey was conducted in six cities, but a majority of the respondents were from the State capital which is home to several big league players as well as smaller units.
It brought out deficiencies in terms of “learning opportunities” provided to employees with only 41 per cent responding positively about the opportunities given by their respective employers. The response implies that only few companies do engage their people to prepare them for future roles through structured career mapping.
About 55 per cent employees felt that their managements have failed to provide appropriate training to maximise their strength that was required to perform effectively in the changing environment.
The positive aspect of the survey, however, is the employees’ belief about the future of their organisations with 88 per cent responding in the affirmative.
Another important aspect of the questionnaire was whether the company was taking care of the employee’s family for which 68 per cent responded positively. A majority 84 per cent of the respondents reiterated their confidence on the leader of the company claiming he/she is steering the company in the right direction with a clear vision for the future. The readiness of the managements to face the stiff challenges ahead figured in the question on decision making and empowerment where 76 per cent said there was significant change in the decision making and this augured well for the companies. The survey comes as a pointer for the managements to redefine their employee value proposition to ensure that attrition levels among the mid-level management did not turn into a cause of concern.