In the pharmaceutical industry, labour issues and wages have become essential to avoid disruption of effective flow of goods and knowledge sharing in its supply chains.
Because of a constant interplay of fundamentally different types of key stakeholders such as providers of raw materials, drug manufacturers, wholesale distributors, retail pharmacies, hospitals/health centres, supply chains in the pharmaceutical industry require perfect coordination.
Recently, labour disputes and strikes have often interrupted the Pharmaceutical supply chains because of job cuts, low wages or even non-payment of wages, atypical form of work contracts or other labour issues.
Wages are essential to ensure that both costs and service objectives are successfully met in this sector. Fair Wage have supported some Pharmaceutical companies to develop their wage policy. Applying the Fair Wage standards and tools provides numerous topical improvements to the operations of Pharmaceutical companies, most notably:
1. Better wage levels and practices help avoid supply chain disruption and improve brand reputation
2. Enhanced employee motivation and satisfaction increases product and service quality
3. More transparency, communication and social dialogue platforms increases employee loyalty and brand identification
More generally, Fair Wage will allow companies in pharmaceutics to:
– Avert strikes and other workforce crisis
– Increase worker productivity
– Attract better talents
– Enhance employees’ capacity to manage technological innovation
– Add a decisive marketing advantage to the food brand
– Increase investment attractivity
– Protect the brand from labour related reputation crisis
– Develop a stable, loyal workforce
– Secure a healthy supply chain
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