EFFECTIVE REWARD SYSTEM FOR EMPLOYEES OF PHARMACEUTICAL MANUFACTURING PLANTS IN SINGAPORE
There are a growing numbers of Pharmaceutical Manufacturing Companies in Singapore because of local and international demand plus the strong government support making them one of the strong industry components of biomedical science in their country. In 2010 they have hosted 15 world class companies in biomedicine. Most of the popular pharmaceutical companies around the world including Glaxo Smithkline, Baxter, Becton Dickinson, Schering Plough, Novartis, Abbott, Pfizer, Lonza Group, Merck Sharp & Dohme and other giant companies have all pharmaceutical research and development plants and laboratories in Singapore. These pharmaceutical companies largely contributed to the economic development; according to their Economic Development Board (EDB) in 2001 these industries produced billion output while enjoying high employment generation for their people. Because of the presence of Pharmaceutical Manufacturing Plants in Singapore they have produced sustainability and employment among their newly graduate students and professionals making their country as a pharmaceutical economic hub for biomedical science.
Novartis Tabletting Plant - One of the latest Manufacturing Plant in Singapore is Novartis tabletting plant opened last October of 2007 in Tuas Biomedical Park, employing 160 personnel that will produce about 3.3 billion different medicines a year. Employees receive base compensation or fixed salary and equal opportunities and training and development including the use of machineries and equipment in the plant. Employees also receive short term incentive plans given every year depending on their performance, including team performance. They are encouraged an option to receive Novartis shares of stock rather than cash payment rewards so that their incentive can grow and leveraged as a part of their savings. They are also given special grants through shares as a part of their equity reward, the long term performance bonuses and rewards are given from managers and executives who have made good contributions in the group. The tabletting plants in Singapore have a Memosen system for the maximum production of their employees.
Genentech Biologics Manufacturing Plant in Singapore – This Pharmaceutical plant can produce or ferment protein cells of E coli plants for patients with wet age related degeneration. E-coli produce lucentis also use for vision loss, their employees receive financial and health benefits including the best compensation package that is above industry. In 2010 they were included in 100 best companies to work for; awarded by Fortune Magazine’s for twelve consecutive years because of the awards and privileges they are giving to their employees all over the world. Their benefits extend to their family they also receive insurance benefits, bonuses, long term benefits, team bonuses, retirement plan, short term and long term disability plan, care and pet insurance. Additionally they can also receive haircuts, car washes, private rooms for pregnant mothers and travel plan or 18 days paid vacation every year. Regular employees who spend six years in their company can receive six weeks off with full payment and benefits and probably one of the best benefits they can have.
Pfizer in Tuas – Pfizer also has one huge Pharmaceutical Plants in Tuas Singapore because they believed that the operating cost in this country is much lower they can also hire highly motivated English speaking employees they have more than 250 employees in their manufacturing plant including technician, engineers, chemist and other professionals. The plant includes full featured advanced technology system and environment friendly machineries for full protection to ensure quality operations making their plant fully automated. Pfizer promise to their employees that they will receive financial sustainability and flexible health benefits while they grow, they also offer rich cultural environment that can produce good working relationship, adaptive environment and full incremental exposure to detailed operations.
Abbott – Also located in Tuas Biomedical Park in Singapore they are one of the largest American based company producing diversified health care product development, discovery, manufacturing and marketing. They have been serving Singapore for more than 70 years and their employees could not ask for more because they have receive equal treatment, base salary higher in the industry and opportunity to grow. Abott highly develop their employees through innovative and individual and team based performance, they are filled with respect, focus and dedication to their works. They are also considered as one of the companies who have a great place to work recognized by Corporate Research Foundation, Business Week, Fortune and Money Magazine. Abott provides all the best resources, technology, education and information to train and develop their employees to gain expertise in their different fields of work.
References:
http://www.emwa.org/JournalArticles/JA_V11_I2_Yeo1.pdf
http://www.pharmaceutical-technology.com/contractors/process_automation/endress-hauser-process/press25.html
http://www.pharmaceutical-technology.com/projects/novartisbio/
http://www.gene.com/gene/careers/gride.html
http://pfizercareers.com/benefits
http://www.abbott.com.sg/
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