Amit Singh

Managing Director

Prioritizing employee experience in the pharmaceutical industry is paramount. It attracts top talent, fostering innovation and ensuring compliance, which directly impacts patient care and outcomes. A positive work environment enhances employee engagement, productivity, and retention. Moreover, it cultivates a culture of excellence and ethics, vital for pharmaceutical companies. Ultimately, prioritizing employee experience isn't just about personnel satisfaction; it's a strategic imperative for achieving long-term success and fulfilling the industry's critical mission of improving global health.

Saffron Formulations stands as a formidable player in the industry with its distinctive dedication to therapy management while fostering an exemplary workplace environment for employees. Saffron Formulations is driving its ‘Therapy Management’ approach with filling therapy gaps through its innovative product range. The Therapy Gaps are identified with the help of leading KOLs of the medical fraternity. Its team comprises seasoned professionals, boasting extensive industry experience, nurturing talent internally, and boasting an open culture where all voices are valued. “We prioritize an effort-based ethos over stress, empowering employees to focus on quality efforts, leading to substantial internal promotions and a thriving workforce of 400”, adds Amit Singh, Managing Director at Saffron Formulations.

Saffron Formulations has adopted a team-centric approach to recognizing exceptional performance, deviating from individual-based rewards prevalent in the industry. Introducing team-sharing incentives ensures collective success is celebrated, fostering camaraderie and motivation. Quarterly incentives and monthly brand-wise rewards further reinforce a performance-driven culture. Additionally, bi-annual performance evaluations leading to potential dual salary increments annually serve as significant motivational factors. This strategy not only cultivates a positive work atmosphere but also reflects in the company's robust growth, averaging 32-33 percent over the past two years.

The firm empowers employees to drive initiatives locally, deviating from centralized decision-making common in many firms. Field teams autonomously formulate strategies and plans, fostering ownership and accountability. This decentralized approach ensures each employee's input is valued, promoting a sense of inclusivity and confidence. Additionally, talent identification for future leadership roles underscores commitment to individual growth. With 81 internal promotions, the organization emphasizes trust in its teams' decision-making abilities, fueling innovation and fostering a culture of excellence.

At Saffron Formulations, robust compliance structures cover existing employees' entitlements like PF, medical claims, and gratuity. During recruitment, meticulous CV scrutiny precedes panel interviews involving HR and Regional Senior Sales Personnel, ensuring comprehensive evaluation. Stringent document verification validates candidates' credentials and financial records. Thorough training follows induction, fostering alignment with company culture and product knowledge. Upon resignation, exit procedures include NOCs and settlements, with optional exit interviews to address challenges and explore solutions for employee satisfaction. Notably, the organization stands out for its performance-driven approach, offering increments surpassing industry norms, reaching up to 23 percent. Managerial attrition remains notably low at three percent, contrasting sharply with the industry's average of around 20 percent. These metrics highlight the organization's robust growth and retention strategies.

In outlining the firm's future plans, it currently operates three verticals. The gastro segment boasts nearly nationwide coverage, with plans to achieve a complete pan- India presence, including Northeast, Bengal and Orissa, within the next financial year. The firm having Chronic Vertical along with Acute Surgical Specialty vertical across seven states, aims for expanded reach. With these two verticals, the firm is looking to have Pan India presence in next 2 years time-line. With these strategic initiatives, the company anticipates reaching a top line of 125 crore within three years, emphasizing a commitment to growth and diversification.