Dr. Sudha S, Ms.Vardhini V. "Best Human Resource Practices in the Indian Pharmaceutical Industry – An Exploratory Study" International Research Journal of Economics and Management Studies, Vol. 3, No. 10, pp. 160-165, 2024.
This emerging pharmaceutical industry of India plays a critical role in the healthcare of the world. As Human Resource Management (HRM) becomes a strategic factor that drives innovation, compliance, and performance, this research study explores the role of HR practices, particularly Training and Development (TD), mentoring, and effective HR strategies in this industry. The problems in this industry are unique, such as the need for regulatory compliance, the acquisition of talent, and the development of innovation, and thus require specific approaches to HR. The independent samples’ T-test results indicate no statistical difference in HR practices between the groups surveyed. However, uniformity in training and mentoring strategies might indicate a trend of convergence of practices within organizations. This raises a question on the effectiveness of the present approaches in improving employee performance and retention and calls for customization and innovation. Key recommendations include tailoring TD programs to the needs of the employees, developing mentoring systems that foster leadership development, and embracing advanced technologies such as virtual mentorship and e-learning platforms. Performance management systems should also be reassessed to be more closely aligned with organizational objectives and involve continuous feedback loops rather than annual reviews. Creating a culture of diversity and inclusion is important to driving creativity and retaining talent in a competitive market. This study highlights the role of HRM in the growth of the pharmaceutical sector, especially as technological advancements change the face of the industry. As companies continue to adapt to hybrid work models and AI-driven processes, HR practices must evolve to support workforce agility and innovation. Future research will include the intricacies of HR practices, extending further variables that impact employee engagement and organizational success. In this context, India’s pharmaceutical industry can adopt more distinct and innovative HR strategies in order to maintain its sustainable position in the global arena.
[1] Agarwal, R., Chopra, S., & Nair, K. (2024). OKRs in pharma: Aligning individual and organizational goals. Strategic HR Review, 23(1), 30-47.
[2] Banerjee, P. (2021). Diversity and Inclusion in the Indian Pharmaceutical Industry. Indian Journal of Organizational Culture.
[3] Chopra, A., Mehta, R., & Singh, L. (2023). Ethics training and compliance in Indian pharmaceutical companies: A longitudinal study. Business Ethics
Quarterly, 34(2), 178-195.
[4] Gupta, S. (2019). Digital Learning in the Pharmaceutical Sector: A New Approach to Employee Training. Learning and Development Review.
[5] Gupta, V., & Patel, N. (2024). The ROI of learning: Training investments and innovation in Indian pharma. Pharmaceutical Management Review, 19(1),
45-62.
[6] Jha, P. (2018). Strategic Recruitment in Indian Pharmaceutical Industry. Journal of HR Practices.
[7] Kumar, A., Singh, R., & Mehta, K. (2022). Retention strategies in the global pharmaceutical landscape: An Indian perspective. International Journal of
HR in Pharmaceuticals, 8(4), 112-130.
[8] Kumar, R., & Kaur, N. (2019). Mentorship and Career Development in Pharma Companies. Journal of Employee Engagement.
[9] Kumar, S. (2024). Gender diversity in pharmaceutical R&D: Driving innovation through inclusion. Women in Science and Technology, 11(1), 88-105.
[10] Mehta, S. (2023). Virtual reality in pharmaceutical training: A case study of Indian manufacturers. Journal of Immersive Learning in Pharma, 7(3), 201-
218.
[11] Pandey, A., & Sharma, R. (2019). Employer Branding as a Recruitment Strategy in Pharmaceutical Companies. Journal of Organizational Management.
[12] Patel, D. (2020). Employee Retention Strategies in the Indian Pharmaceutical Industry. International Journal of Management Studies.
[13] Patel, M., & Joshi, R. (2023). Diversity and financial performance in Indian pharma: A correlational study. Journal of Business Ethics in Pharmaceuticals,
14(3), 245-262.
[14] Patil, R., & Sharma, S. (2023). AI-driven recruitment in Indian pharma: A game-changer. Journal of Pharmaceutical HR Management, 15(2), 78-95.
[15] Reddy, A., & Nair, P. (2023). The impact of wellness programs on productivity in Indian pharmaceutical companies. Journal of Occupational Health,
18(4), 321-339.
[16] Sharma, N., & Jain, R. (2020). Training Programs in the Pharmaceutical Industry: A Path to Innovation and Compliance. Indian Journal of Industrial
Relations.
[17] Sharma, P., & Khan, M. (2023). Continuous feedback systems: Transforming performance management in pharma. Asian Journal of HR Practices, 12(2),
67-84.
[18] Sharma, S. (2019). Ethical Practices in the Indian Pharmaceutical Industry. Journal of Business Ethics.
[19] Singh, H. (2024). Hybrid work models in pharma: Balancing flexibility and productivity. Future of Work Journal, 9(2), 156-173.
[20] Singh, P., & Mehta, S. (2021). Performance Management Systems in the Pharmaceutical Industry. Indian Journal of Human Resource Development.
[21] Suresh Kumar, R. (2019). In the Era of Globalisation, the Importance of Soft Skills and Professionalism. Language in India. 19(3), 319-322.
Talent Acquisition, Training and Development, Mentorship.