02-01-2013, 03:05 PM
Emerging HR practices in Indian pharmaceutical sector; Igniting & Sustaining innovation at workplace
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Introduction
To make any organization a great place to work, there are two things to be checked i.e. what the managers do and what do the employees feel. A great place to work for is the place or an organization where positive HR practices are more actively adopted whereby employee and employer can achieve horizontal and vertical growths. HR practices must result in multi fold development of the employee wherein employer gets maximum result or the required outcome from the performances of the employee. The positive HR practices also lead to overall personality development of the employee and by virtue of which the individual is more inclined or dedicated to render more services than the one is offered for. The employee is much more satisfied when the individual is offered system oriented working environment.
There are always three aspects which lead an organization to make itself a great place to work for, these are- People Practices, HR Processes and Manager’s Competence. These three will finally get employees in building the trust and pride towards the organization they are working for.
Human Resource Management in Pharmaceuticals
All the organizations whether they are pharmaceutical sector respond to the changing environment at the workplace by adopting innovative HR practices. The Managers interviewed were of the view that it is important for every organization to modify and redefine the HR practices with time.
The unique HR practices being followed by many of the companies in Indian Pharmaceutical sector are employee empowerment, stock ownership, creativity and innovation, continuing education policy, flexible timing policy, etc. To an organization it is very important checking on its manpower, especially as observed in the Indian Pharmaceutical sector.
The requirement of manpower must be ascertained on the basis of scientific methods. Therefore, Management Program starts with job surveys, quantifying the workload, defining job specification, correspondingly devising the man specification and to fit them at the proper place. However on account of death, superannuation, resignation, transfer, promotion etc. if vacancies are arising then the right man at the right place at right time and reasonable pay package and right accountability to the posted.
The environment for most organizations today is global, complex, dynamic, highly competitive, and extremely volatile, and is likely to remain so for years to come. In addition to these external conditions, most organizations are also facing several global challenges including those related to: talent flow; the managing of two generations of employees, viz., older or mature workers and younger workers; and a shortage of needed competencies. One major result of these challenges for organizations is that they have to be global and that they have to be systematic in managing their human capital if they wish to have any hope of gaining and sustaining a competitive advantage in the years ahead. Many human resource practitioners and consultants (HR professionals) are now recognizing this, especially those that operate globally, the multinational enterprises.
Rationale of Study
Since 1990’s, there has been a significant change in the working environment of the Indian Pharmaceutical companies. Many of which have acquired the new policies to work for country, some gone through the customer oriented working and some of them work with the employee orientation. The employee concentrated working environment is the major example of an innovative HR practice, giving an employee the significance of company’s value.
My study aims in identifying the above stated HR practices being employed within the Indian Pharmacy companies, which at the end will generate the result of effectiveness or non-effectiveness of these emerging practices modified with the changing work culture and generation of work force.
It is well known worldwide that, Japanese management system has proved to be the best in the world. The peculiar aspect of it is that it acknowledges the Human Resource as the most important amongst all resources of any trade/business/industry. It is very well understandable also because all such activities are ultimately carried out by human beings only for human beings i.e. the Human Resource of industry and Human Resource of nature.
Therefore, it is rational to use the best Human Resource Practices and keep unceasing watch over them to make variable necessary changes at right time in this regard to get the best results.
Research Objectives
• To study about the new and upcoming innovative HR practices in the Lupin Pharmaceuticals India Ltd. and Ranbaxy Fine Chemicals Ltd.
• To observe the level of Job Satisfaction of an employee working in such innovation led company.
• To identify the degree of correctness of these activities in attaining low attrition and high retention.
• To study the actual completion of need and demand of an employee, by applying new practices in organization.
• To study the overall impact of the Emerging HR practices at different levels (floor employee, departmental managers and HR manager) in Lupin Pharmaceuticals India Ltd. and Ranbaxy Fine Chemicals Ltd.
Research Methodology
Research method involves a systematic and orderly approach implored towards the collection and analysis of the data used in the study so that useful information and meaning can be derived from the data. The methodology is subjugated into the following sections:
• The Design of the Study
• The Population and Sample of the Study
• Data Analysis Procedure/ Technique
This study is descriptive in nature. Secondary data will be used to identify the variables of interest that are related to HR practices.
The Sample Profile
During the sample design process the target population is identified, as well as the sampling unit, the size of the sample, and sampling technique.
The Population: Top two Great Place to work in Biotech & Pharmaceuticals i.e. Ranbaxy Fine Chemicals ltd. (#1) and Lupin Pharmaceuticals India ltd. (#2)
Sample Unit: Sample unit will comprise of individual units which are involved in using and applying Human Resource practices in the organisations.
Sample Size: The sample size for the study will be composed of 500 respondents (approx.).
Data Collection: Data will be collected both through Secondary sources and Primary sources. Secondary data will be collected through literature review and to collect the primary data, structured questionnaires will be developed for study purpose. The questionnaire will be of three different kinds: one for the Floor Employees, one for Departmental Managers and one for HR Manager,
The Techniques: In this study, the non probability sampling technique will be used.
Data Analyses: Collected data through primary tools will be processed i.e., edited, coded and tabulated for the analysis using MS office software or SPSS.
For further analysis of data, different statistical techniques to achieve our said objectives will be used like the Grounded dimensional analysis, t-test, ANOVA (Analysis of Variance) to see the significance difference, Chi-square test for interdependency, and correlation to measure the association between variables.
If any other technique will be required to achieve our objectives, I will decide at the required time.
Research Hypothesis
The organizations have to modify and redesign their HR practices to make workforce sustain there.
Initiating and improving HR practices are important in implementing organizational goals.
There is no relationship exists between HR practices and employee satisfaction.
There is a strong correlation in employee acquisition & retention, and acquisition & rewards.
Various employee engagement activities are helpful in employee retention and low attrition.
The human resource approach is not only concerned with what the individuals contribute to the organization, but what the organization does for every individual in the organization.