Prepare for Future Challenges With Social Recognition: Tips for Pharma, Biotech, and Chemical Companies

July 2, 2020

Pharmaceutical, biotechnology, and chemical companies around the world are rising to the challenges surfaced by the COVID-19 pandemic. However, with increased innovation in research and development often comes longer hours and added stressors. That’s why creating and maintaining a strong culture is a vital element of success.

Implementing a social recognition program allows research and development employees, as well as other vital pharma, biotech, and chemical professionals, to celebrate and recognize each other. This builds resilience against burnout, ensures alignment with organizational values, and helps employees navigate changes they can’t control by buffering against the stress that comes with shifting objectives, moving into new competitive markets, and potential mergers and acquisitions. It also helps you retain your best people by leveraging and strengthening connections within and across teams.

The proof is in the data: For one leading pharmaceutical company, frequent recognition correlated with 15% lower turnover and was found to be 8x more powerful than salary increases in improving engagement.

Learn more about using recognition to navigate change in this actionable, forward-looking brief.

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