Pharmaceutical Employees Give Highest Ratings To Their Workplace Compared to Other Industries; New Hay Group Insight Research Shows That Pharma Workers Have Enormous Pride in the Company as a Place to Work

Business Wire, May 22, 2006

PHILADELPHIA -- A new Hay Group Insight study found that employees in the pharmaceutical industry have significantly more favorable attitudes than the general industry on almost all workplace issues.

In fact, in many areas of the Hay Group Insight Employee Research Benchmark Study such as company pride and job satisfaction favorable opinions lead the norm by margins of ten points or more. Almost nine out of ten survey respondents in the pharmaceutical industry said they were proud to work for their company.

The Hay Group Insight employee study also found that pharmaceutical employees are far more likely to express understanding of the company strategy. They also believe the company does a good job of keeping employees informed about the state of the business, has high quality products and services, and treats them with respect. The study found that 95 percent of pharmaceutical employees responded favorably when asked about the product and services at their organization.

"The pharmaceutical industry is facing enormous challenges and increasing pressure to shorten product lifecycles and get new drugs to market more quickly and efficiently," said Hay Group Vice President and Pharmaceutical Practice Leader, Ian Wilcox. "However, it's a knowledge-based industry and generally it has done a much better job than other industries in communicating with and instilling pride among its employees."

This contrasts with the retail industry where the Hay Group Insight employee study found that these employees provide one of the lowest ratings of their company as place to work. Product and service quality are other notable areas of concern.

"In the extensive employee surveys we have done over the years, we were struck by these recent findings that show the enormous gap between pharmaceutical and other industries across a range of issues," said Hay Group Insight Senior Consultant Tom Agnew. "Pharmaceutical companies, perhaps much more than most, understand the business impact of retaining high-performing individuals. As such, they pay careful attention to creating and sustaining a positive and supportive work environment."

This pharmaceutical research comes from Hay Group Insight, Hay Group's employee survey group, which maintains a database of approximately 1.2 million employees in over 400 organizations worldwide in a variety of key industries.

About Hay Group Insight and Hay Group

Hay Group Insight (www.haygroupinsight.com) is a global leader in employee and customer opinion research. Through customized survey programs focused on organizational objectives, we help organizations attract and retain talent, improve operating efficiency, manage change more effectively, and enhance customer loyalty and business performance.

Over the last 30 years, Hay Group Insight has assisted more than 4,000 organizations. The breadth of our experience enables us to identify best practices for our clients, not only within their own industries but also across industries.

Hay Group (www.haygroup.com) is a global consulting firm that works with leaders to transform strategy into reality. We develop talent, organize people to be more effective, and motivate them to perform at their best. With 82 offices in 47 countries, we work with over 7,000 clients across the world. Our clients are from the private, public, and not-for-profit sectors, across every major industry, and represent diverse business challenges. Our focus is on making change happen and helping people and organizations realize their potential.