In an industry devoted to developing and manufacturing the life-saving medicines of today and tomorrow, offering an array of benefits options is one way to attract the best talent in a competitive market, and to ensure healthy, happy employees. Here are some of the best employee benefits you’ll find in the pharmaceutical industry.
Health Care Coverage
As in many other competitive industries, pharmaceutical companies stand out by offering strong health benefits to their employees. Novo Nordisk, for example, covers 90 percent of health care coverage for full-time employees. At AbbVie, everyone who works at least 20 hours per week is eligible for one of six health insurance plans. Johnson & Johnson aspires to have the healthiest workforce in the world and aims to achieve the goal through its workplace wellness initiative, Energy for Performance in Life, a wide-reaching program that promotes balance in mind, body and spirit.
Many pharmaceutical companies provide benefits to parents that make it easier for them to stay in the workforce. Some offer parents longer leave periods — not only for mothers after having a biological child, but also for people adopting or having children via surrogacy. At Johnson & Johnson, for example, mothers in the U.S. get 17 weeks of paid leave after having a baby, and across the world, all parents, including dads and surrogacy-assisted and adoptive parents, are guaranteed eight weeks of leave. Many pharmaceutical companies offer significant assistance for dependent care, including on-site day care and reimbursements for dependent care.
Work-life balance remains an important differentiator for attracting employees. Many pharmaceutical companies offer some of the most impressive flexible working arrangements in terms of location and hours worked. Eli Lilly offers work-from-home and flex-hours options, while Novartis offers six flexible work options for employees to choose from. Novartis and Horizon Pharma are among the firms that offer “summer hours” — for example, letting employees end their work week earlier in the day on Fridays.
Training and Development
From educational assistance to learning programs and career management assistance, some leading pharma companies see training and development as a key offering for attracting employees. AbbVie offers $7,000 in tuition reimbursement, and Novartis also has an educational assistance program. Teva offers several programs for professional growth and career management.
On-campus perks have become important tools for creating happy workplaces in the pharma industry. These include on-site fitness centers, health centers, child care, nutritionists, stress management programs, baristas and more. At most Merck company sites, employees can make appointments to see a health care professional on-site — and usually day-of — for immunizations, screenings and treatment for minor ailments. GlaxoSmithKline offers on-site resources such as classes, gyms, walking paths and communal coffee bars. And at Horizon Pharma, an in-house massage therapist is available to bring some relaxation to employees.
Winston Benefits is a Benefits Administration, Enrollment, and Communication company. We provide employers with a technology enabled benefit process in order to help communicate, enroll and administer their employee benefit programs while empowering their employees to make better benefit decisions. Contact us to learn more.