Incentive - April 2008 - (Page 16)

COVER STORY From donating medications to encouraging volunteerism, this pharmaceutical company takes care of the community and its employees alike BY LEO JAKOBSON K eeping employees happy, motivated and loyal is a tough job for any business. Now try doing it at a company with 67,000 employees in more than 100 countries. Then add in the fact that your industry— pharmaceuticals—is regularly vilified, and that your business regularly loses its most valuable assets when drug patents expire and generic competitors slash profits, and you’ve got your work cut out for you. That is the challenge AstraZeneca’s managers and executives face every day. However, they’ve got some advantages: 2007 operating profit was $9 billion on revenues of $29.6 billion, which certainly provides the wherewithal to run incentive and loyalty programs as well as invest in work/life balance initiatives. And they invest plenty. “From the top level down, AstraZeneca executives understand the value of taking care of our employees,” says Penny Stoker, vice president of global human resources services of the London-based firm that has its U.S. headquarters in Wilmington, Del. “I do not have to build a business case for it.” “I’ve been with three or four companies, and this one has the lowest [employee] turnover, well below the industry average,” says Stoker, who until the beginning of the year was vice president of U.S. human resources. “One of the reasons is, first off, this is a great company to work for. AstraZeneca wants people to be attracted to our company, we want them to say, ‘This is a place where you can build a career.’ Being an employer of choice is of huge value for us.” Incentive programs are an integral part of that, says David Snow, vice president for commercial operations, who oversees about 600 employees in various sales and marketing support functions, ranging from marketing to compliance to call centers. They are, he says, one way managers “connect the dots with how [employees’ actions] help achieve the organization’s goals.” AstraZeneca from 16 | Incentive ATOZ | April 2008 | incentivemag.com Photo: Nick Antony/Wonderful Machine http://incentivemag.com

Table of Contents for the Digital Edition of Incentive - April 2008

Incentive - April 2008
Contents
Editor’s Note: Publicity-Shy Pharmaceuticals
In The News
Cover Story: AstraZeneca on Incentives and Giving Back
Incentive Interview: Hotelier Stephanie Sonnabend
Case Study: U.S. Cellular Celebrates Coming of Age
De-Stressing the Workplace
Incentive Primer: Social Networking On the Job
Original Research: Incentive Merchandise IQ Report
Travel News
San Diego’s Gaslamp District Gets Hotter
Voluptuous Vienna
potentials Here and Now
Make A Splash With Water Sports Awards
Zoom In On Digital Cameras
Gift Cards: Resellers Add More Than Choice
Advertiser Index
Off The Cuff: Secrets of the Mayflower Spa
Special Supplement-Las Vegas Incentive Planners Guide

Incentive - April 2008