How does trust impact employee commitment in the Indian pharma sector?

In Indian pharmaceutical organizations, higher perceived management honesty is linked to a 37% increase in employees' intent to stay.

What are the main challenges in India's healthcare and biotech industries?

Key challenges include one in five employees struggling to adapt to change and a significant portion of healthcare workers feeling unsupported emotionally.

What role does training play in innovation within Indian biotech?

Improved access to training in biotech is linked to higher innovation opportunities, with employees reporting 33% more chances to innovate.

Home / Business and Economy / Pharma & Health: Trust Fuels Innovation Amidst Growth

Pharma & Health: Trust Fuels Innovation Amidst Growth

13 Jan

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Summary

Trust significantly boosts employee intent to stay in pharma.
Adaptable organizations show 54% greater positivity towards career growth.
One in five healthcare employees lack adequate emotional well-being support.

Pharma & Health: Trust Fuels Innovation Amidst Growth

India's pharmaceutical, healthcare, and biotechnology sectors are experiencing significant expansion, with workplace culture emerging as a pivotal driver of trust, innovation, and performance. A recent Great Place To Work India study indicates that organizations embedding trust, adaptability, and employee care into their daily practices are better positioned for sustained success.

Trust has proven to be a crucial element, especially within pharmaceutical firms. Employees reporting high levels of management honesty exhibit a 37% greater intent to remain with their companies. Simultaneously, the biotechnology sector has seen a 6% year-on-year improvement in employee perception of training access, with 85% now reporting availability.

However, adaptation to workplace changes remains a hurdle for approximately one in five employees across these sectors. This highlights a critical need for continuous training and development, fostering collaboration, and demonstrating agility. Addressing gaps in emotional well-being support, particularly in healthcare, is essential to mitigate burnout risks and enhance work-life balance.