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Pfizer announces voluntary retirement scheme for field employees

Pfizer announces voluntary retirement scheme for field employees

The company said that the VRS is part of an attempt to reshape itself into a growth-oriented biopharma company.

Pfizer's voluntary retirement scheme Pfizer's voluntary retirement scheme

Pharmaceutical and biotechnology giant Pfizer, on Thursday, stated that it is announcing a voluntary retirement scheme for its field employees. In a BSE filing, Pfizer stated that it will support all eligible colleagues. 

“The eligibility criteria of the VRS offer have been determined in line with our value of Equity to ensure a fair and transparent experience for all colleagues. We will support all eligible colleagues through this process with dedicated helpdesks and career transition services. The financial impact of the VRS shall be communicated separately upon acceptance of the scheme by the eligible employees,” the company stated. 

It said that it is important to give shape to an organisation that is fit and new and allows them the flexibility to serve the customers with focus, and agility. Towards this, the company is aiming to acquire talent with futuristic skills, upskill their current talent, and explore meaningful partnerships. Pfizer said that it is bringing in new roles such as “specialists for the in-house studio team, subject matter experts across health solutions, market access, strategic accounts, and medical, and refreshing talent.

Pfizer, in the filing, thanked its employees as it embarked on its growth journey in India. “We wish to reiterate that our customer-facing colleagues and relationships – whether maintained virtually, in-person or hybrid – will continue to play a pivotal role as we advance our new ways of working. We will continue to build out an appropriate go-to-market structure for each business and therapy area in the coming months,” it added. 

The company said that the VRS is part of an attempt to reshape itself into a growth-oriented biopharma company. In the Phase One of its plan, it introduced several new products, doubledits doctor base and retailer coverage, increased its stockist base by four times and expanded to 3,00,000 towns and villages. 

The Phase Two of its journey is based on adopting newer go-to-market models, benefiting the established business from deeper market penetration, and revolutionising customers and patients' experience through digital disruptions. 

Pfizer said that it is transforming the way it engages with its customers. “We are expanding our digital capabilities and broadening healthcare professionals’ access to our scientific and therapy-area expertise through new and enhanced platforms, tailored and enhanced content, on-demand support and real-time insights for a more personalized experience,” it said. 

The VRS does not impact its Upjohn business. 

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