Number 8: GENESIS Pharma - Pharmaceutical Company

The company offers bonuses to the employees that have had a high performance during the year and have also greatly contributed towards the accomplishment of the company's targets. In various cases , an annual bonus may exceed an employee ' s annual salary . Besides, in the case of absence of an employee due to illness, the employee receives his full salary regardless of the benefit entitled to him from the National Health Institute. Payment of full salary is also a standard provision during maternity leave.

GENESIS Pharma's management follows the philosophy of "management by wandering around" (a continuous effort of direct and substantial communication between management and employees). Within this context, there is direct communication between the CEO and the rest of the management and employees of the company.

The CEO participates in various meetings held by the departments in order to directly communicate to the employees on the company's targets and results. At the same time, during those meetings, the employees get the chance to express their judgment and opinions on the targets and policies set by the company. Additionally, goal of the management is to greatly involve the employees in the decision making process, whilst ensuring that it has a direct knowledge of the employees' problems and participates in most of the employees significant occasions (such as weddings, children's' christenings, etc).

Within the context of GENESIS Pharma's policy for continuous education for the employees, the company covers 60-100% of the costs arising from educational seminars and programs such as MBA and MSc.

SCORING

BUSINESS ACTIVITY: In-licensing, marketing and distribution of specialized pharmaceutical products
EMPLOYEES (full-time and part-time): 86
TURNOVER (in Euros 2002): 17.565.000
EMPLOYEES IN 2001: 62
VOLUNTARY RESIGNMENTS: 5%
PERCENTAGE OF MALES/FEMALES: 55/31
EDUCATIONAL PROGRAMS/ YEAR: 30 hours

THE EMPLOYEES FOR THE COMPANY

• The higher bonuses in the market, while management cares for the continuous improvement of the working environment.
• The company has a specific vision and strategy. We are all part of a successful team, management shares success with us.
• There is no working pressure. Above all, they respect you as a person.

  MARIOS IERODIAKONOU, Administration Director

GENESIS Pharma is the leading pharmaceutical company in Greece, Cyprus and the Balkans in the marketing and distribution of niche pharmaceutical products. Its outstanding performance in the market since 1997 and its thrive for future development are the result of a strong corporate culture, which is based on the integrity, decency and vigor of its personnel. The company encourages initiative and innovation, having a creative and pleasant working environment.

GENESIS Pharma attends to the objective and unbiased selection of its employees along with their further education and development. It supports morally and financially its employees for the continuance of their professional and academic training either in long term seminars or in graduate programs, such as MBA.

Management equips its employees with all incentives and motives in order to achieve their goals. It evaluates its employees objectively and separately from one another, promotes individual success, and shares the company's success and rewards based on performance of the individual both morally and financially. 40% of the employees hired until the end of 2001 have been promoted, based on their outstanding performance.

Source: Oikonomikos Taxydromos, 1 March 2003.