Pfizer workforce confident, growing as company's veteran COO prepares to take the reigns
Earlier this week, Pfizer Inc. ($NYSE:PFE), one of the world's largest pharmaceutical companies, announced Ian C. Read will step down after serving as its CEO for seven years. He will be replaced by Chief Operating Offiecer Albert Bourla in January 2019.
Since Read became Pfizer's chief executive in 2010, Pfizer had 30 FDA approvals, including one for a drug that treats a form of leukemia, and made two major acquisitions in generic and injectable drug manufacturer InnoPharma (for $225 million plus $135 million in milestone payments) as well as inflammatory and immunology drug company Anacor Pharmaceuticals (for $5.2 billion). The company's stock also more than doubled during his tenure.
In a few months, Dr. Bourla will have to fill Read's shoes and continue Pfizer's strong growth in this decade, but he will not be alone; Bourla will also inherit a workforce that's growing and ready for 2019.
Employees' confidence in Pfizer grew in 2018
On the workplace review site Glassdoor, employee sentiment has grown steadily from the beginning of 2018, with Pfizer workers reporting their growing confidence in the business' outlook through anonymous reviews. Currently, 67% of these reviews believe Pfizer will continue to improve in six month's time.
Those Pfizer employees who reviewed their company not only are confident in the future, but also want themselves — and even their friends — to work there. Much like Pfizer's Business Outlook rating, its Recommendation rating — based on a question where employees answer if they would recommend working at Pfizer to a friend — has grown over time to a fairly high mark.
Nearly 4-out-of-5 Pfizer employees who reviewed their employer would recommend a job at Pfizer to a friend, showing that, even with a change in chief executive, the average Pfizer employee wants to work there. Objectively, that's a good sign of a healthy company, as is a glowing 88% approval rating for its current CEO.
Linkedin Data, listings show even further growth
When Dr. Bourla steps up to CEO, not only will he have a workforce that seems satisfied with their job, but also one that is bolstering its ranks.
Although there were a few days where listings were taken down and rescrubbed, over time, hiring at Pfizer remains steady. When last updated, Pfizer was hiring for 2,346 open positions.
Furthermore, more people are claiming to work for Pfizer on LinkedIn over time. Currently, 123,212 accounts list Pfizer as their employer.
While the issue of phantom accounts or proud contracted workers may be at hand here — Pfizer lists 90,200 employees as of June 2018 —it's still a sign that anyone connected as an employee to the pharmaceutical giant is proud to be a part of it.