RFCL: A Dream Place to Work with High Growth in a PE set up
The Great Place to Work® Institute in partnership with The Economic Times has ranked RFCL at No.2 in the Biotechnology and Pharmaceuticals industry segment, and amongst the Top 100 Great Places to Work in India in 2010.
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Sushil Mehta, Managing Director, RFCL Limited
-- The Great Place to Work® Institute in partnership with The Economic Times has ranked RFCL at No.2 in the Biotechnology and Pharmaceuticals industry segment, and amongst the Top 100 Great Places to Work in India in 2010.
The results are a culmination of extensive surveys conducted across more than 400 companies, looking at employee perspectives on Credibility, Respect, Fairness, Pride and Camaraderie as essential elements that make a company a Great Place to Work.
"Being named as one of the Best Workplaces in India, especially in the Biotechnology and Pharmaceuticals sector is a matter of great pride for RFCL and an important measure that our policies and practices are comparable to some of the reputed corporate leaders in India," said Sushil Mehta, Managing Director, RFCL.
"80% of employees participating in the survey indicated that RFCL is a Great Place to Work. This is an inspiring reflection of our employees' experiences and opinions about our culture and values, their trust in the leadership, integrity and fairness, teamwork, and camaraderie at our dynamic organization," adds K S Vijay Kumar, Executive Vice President-HR, RFCL.
Vijay Kumar attributes this honour to Transparency, which composes the DNA at RFCL. "We have adopted an approach to maintain an open flow of information and share even critical information with all the employees. Starting from the divestment from Ranbaxy, acquisitions in Diagnova and Vetnex to the divestment of Vetnex to Pfizer, in all such times employees have been timely informed and updated. The news maybe good or bad, it does not affect the flow of communication," he adds.
At RFCL, innovation is a way of life as it works towards emerging as a globally respected company in the field of Life sciences and Laboratory Solutions. The company believes in nurturing value based growth through excellence & creativity and has gradually created a culture of participative management. The employees are empowered to participate in strategic decisions of the company, thus aligning them to the business objectives. RFCL has introduced several initiatives to foster a positive working environment, enhancing individual potentials, encouraging recognition, appreciation and rewarding efforts.
A leveraged management buy-out by ICICI Venture Fund Management Company, RFCL also credits its phenomenal growth at a CAGR of 40% compared to the industry growth of 20% in the last 4 years to the forward looking vision of its PE partner that has enabled them to tap new opportunities as well as act positively and with complete management freedom with respect to the key assets at RFCL- its people.
"RFCL is a unique set up where in spite of being a PE firm where ownership changes hand and often leads to anxiety at employees' end, we have effectively addressed employee concerns and maintained high growth. Our employees are as enthusiastic about the business as the management and therein lies the key to our success," adds Mehta.
Notes to Editor
About RFCL
The 100% ICICI Venture Fund management Co owned, RFCL covers Life Sciences industries through its two strategic business units; Diagnova for Diagnostics and Biomedical Sciences and Rankem for Scientific Laboratory Solutions. RFCL has evolved its corporate philosophy around Science, Solutions and Life. This philosophy is the foundation for RFCL's vision of "Leveraging Science to offer Solutions for a better Life" guided by its Core values - "Dream Place to Work", "Customer Delight" and "Aiming High".
