Merck & Co., Inc. (NYSE: MRK), also known as Merck Sharp & Dohme or MSD outside the United States and Canada, is one of the largest pharmaceutical companies in the world. The headquarters of the company is located in Whitehouse Station, New Jersey, an unincorporated area in Readington Township. The company was established in 1891 as the United States subsidiary of the German company now known as Merck KGaA. In common with many other German assets in the United States, Merck & Co. was confiscated in 1917 during World War I and then set up as an independent company. Currently, it is one of the seven largest pharmaceutical companies in the world both by market capitalization and revenue.
Merck & Co. or MSD describes itself as a "a global research-driven pharmaceutical company. Merck discovers, develops, manufactures and markets a broad range of innovative products to improve human and animal health, directly and through its joint ventures." The Merck Company Foundation has distributed over $480 million to educational and non-profit organizations since it was founded in 1957.[2]
Merck publishes The Merck Manuals, a series of medical reference books. These include the Merck Manual of Diagnosis and Therapy, the world's best-selling medical textbook, and the Merck Index, a collection of information about chemical compounds.
Merck’s success is significantly influenced by the competence and dedication of its employees. Due to intensive competition, it is increasingly difficult to recruit and retain qualified specialists, particularly in the pharmaceutical sector.
We are meeting this challenge by continuously enhancing our range of international personnel marketing measures. Merck addresses specialists and executives by means of a Talent & Succession Management process established throughout the Group. This process helps to identify internal talent for management positions and facilitates the objective assessment and development of talent, thus enabling positions to be quickly filled with suitable employees as a result of targeted selection via an internal talent pool. Vacancies arising over the short term are managed by means of clearly defined, appropriate deputizing arrangements. Key factors for employee retention and satisfaction are identified and evaluated by means of regular, corporate-wide employee surveys. We derive measures from the results of these surveys and monitor their efficacy in follow-up surveys. A performance management system applicable to the whole Merck Group was introduced to better measure employee contributions to the company’s success. This is to facilitate a consistent evaluation of the degree to which personal goals are achieved and for measuring the degree to which the Merck Values are lived. On this basis, individual HR development measures are identified and implemented. This ensures the targeted preparation of employees for new business challenges and their motivation to solve these challenges for the benefit of the company. The Rewards Policy system complements this process by ensuring that performance-related payment components are handled consistently throughout the Group. The Merck Long-Term Incentive Plan offers eligible executives and experts a long-term, profit-related compensation component.
The companies selected below show the most progress in bringing in new talent that's diverse in every way, retaining that talent and promoting people of all races/ethnicities, genders, orientations and physical abilities.
A few facts about The DiversityInc Top 10 Companies for Recruitment & Retention and why they stand out:
Their work forces are younger than the DiversityInc Top 50; 36 percent of workers are 34 or younger vs. 31 for the DiversityInc Top 50
Women make up far more of their senior managers (CEO and direct reports) than the DiversityInc Top 50: 32 percent vs. 24 percent. Nationally, according to Catalyst research, women are 13.5 percent of all managers
Women are 36 percent of the top 10 percent highest-paid employees at these 10 companies vs. 33 percent of the DiversityInc Top 50
All of these companies have active programs to recruit LGBT employees and employees with disabilities vs. 84 percent and 96 percent for the DiversityInc Top 50, respectively
Genentech reported that it expects to spend approximately $371 million to implement a previously adopted employee-retention programme amid a takeover bid from Roche. The company detailed the plan in a filing with the US Securities and Exchange Commission, along with information about severance packages for employees who would lose their jobs should a merger be completed.
In the filing, Genentech stated that the retention plans, which are being offered instead of the company's planned 2008 stock option grants, cover "substantially all" of its 10 700 employees. The bonuses would be paid beginning June 30, 2009, under different terms depending on whether a merger with Roche is concluded by then. The drugmaker noted that if the programme were fully paid, it would cut earnings by about 22 cents per share from 2008 to 2010.
Under the plan, Genentech CEO Arthur Levinson would be entitled to a bonus of about $8.7 million, while David Ebersman, the company's chief financial officer, could receive around $2.7 million. In addition, Susan Desmond-Hellman, the president of product development, would be eligible for almost $4.6 million. Furthermore, the drugmaker specified that following a merger with Roche, if any employee at Genentech resigns with "good reason" or is terminated without cause, when the employee leaves the company he will be entitled to any remaining unpaid retention bonus.
Earlier this month, a special committee of Genentech's board of directors unanimously rejected Roche's offer to acquire the 44 percent of the biotechnology firm it does not already own for $89 a share. However, Sanford C. Bernstein analyst Geoffrey Porges noted that a deal seems inevitable, estimating a price of around $110 per share.
Pros
the money was pretty good and it was relatively easy to make connections. They seem to hire internally first, so once hired, it's relatively easy to move around and up
Cons
the commute they give interns is a little intense. They seem to move people around a lot, but that was probably more about the timing than the company in general
Our employees show commitment on the job each and every day and behave responsibly at al times toward colleagues and customers, the community and the environment. An attractive working environment, good advancement opportunities, social benefits and a high level of investment in continuing education reflect corporate responsibility. Merck has an excellent reputation for its responsibility toward its employees. Our low staff turnover is evidence of the satisfaction of our employees.
We are constantly seeking committed, highly motivated and talented people who will help to drive Merck forward. Talent is an important prerequisite for our success. That’s because entrepreneurial success starts with people with a pioneering spirit who seek for innovative solutions and are open toward life-long learning.
Merck & Co. or MSD describes itself as a "a global research-driven pharmaceutical company. Merck discovers, develops, manufactures and markets a broad range of innovative products to improve human and animal health, directly and through its joint ventures." The Merck Company Foundation has distributed over $480 million to educational and non-profit organizations since it was founded in 1957.[2]
Merck publishes The Merck Manuals, a series of medical reference books. These include the Merck Manual of Diagnosis and Therapy, the world's best-selling medical textbook, and the Merck Index, a collection of information about chemical compounds.
Merck’s success is significantly influenced by the competence and dedication of its employees. Due to intensive competition, it is increasingly difficult to recruit and retain qualified specialists, particularly in the pharmaceutical sector.
We are meeting this challenge by continuously enhancing our range of international personnel marketing measures. Merck addresses specialists and executives by means of a Talent & Succession Management process established throughout the Group. This process helps to identify internal talent for management positions and facilitates the objective assessment and development of talent, thus enabling positions to be quickly filled with suitable employees as a result of targeted selection via an internal talent pool. Vacancies arising over the short term are managed by means of clearly defined, appropriate deputizing arrangements. Key factors for employee retention and satisfaction are identified and evaluated by means of regular, corporate-wide employee surveys. We derive measures from the results of these surveys and monitor their efficacy in follow-up surveys. A performance management system applicable to the whole Merck Group was introduced to better measure employee contributions to the company’s success. This is to facilitate a consistent evaluation of the degree to which personal goals are achieved and for measuring the degree to which the Merck Values are lived. On this basis, individual HR development measures are identified and implemented. This ensures the targeted preparation of employees for new business challenges and their motivation to solve these challenges for the benefit of the company. The Rewards Policy system complements this process by ensuring that performance-related payment components are handled consistently throughout the Group. The Merck Long-Term Incentive Plan offers eligible executives and experts a long-term, profit-related compensation component.
The companies selected below show the most progress in bringing in new talent that's diverse in every way, retaining that talent and promoting people of all races/ethnicities, genders, orientations and physical abilities.
A few facts about The DiversityInc Top 10 Companies for Recruitment & Retention and why they stand out:
Their work forces are younger than the DiversityInc Top 50; 36 percent of workers are 34 or younger vs. 31 for the DiversityInc Top 50
Women make up far more of their senior managers (CEO and direct reports) than the DiversityInc Top 50: 32 percent vs. 24 percent. Nationally, according to Catalyst research, women are 13.5 percent of all managers
Women are 36 percent of the top 10 percent highest-paid employees at these 10 companies vs. 33 percent of the DiversityInc Top 50
All of these companies have active programs to recruit LGBT employees and employees with disabilities vs. 84 percent and 96 percent for the DiversityInc Top 50, respectively
Genentech reported that it expects to spend approximately $371 million to implement a previously adopted employee-retention programme amid a takeover bid from Roche. The company detailed the plan in a filing with the US Securities and Exchange Commission, along with information about severance packages for employees who would lose their jobs should a merger be completed.
In the filing, Genentech stated that the retention plans, which are being offered instead of the company's planned 2008 stock option grants, cover "substantially all" of its 10 700 employees. The bonuses would be paid beginning June 30, 2009, under different terms depending on whether a merger with Roche is concluded by then. The drugmaker noted that if the programme were fully paid, it would cut earnings by about 22 cents per share from 2008 to 2010.
Under the plan, Genentech CEO Arthur Levinson would be entitled to a bonus of about $8.7 million, while David Ebersman, the company's chief financial officer, could receive around $2.7 million. In addition, Susan Desmond-Hellman, the president of product development, would be eligible for almost $4.6 million. Furthermore, the drugmaker specified that following a merger with Roche, if any employee at Genentech resigns with "good reason" or is terminated without cause, when the employee leaves the company he will be entitled to any remaining unpaid retention bonus.
Earlier this month, a special committee of Genentech's board of directors unanimously rejected Roche's offer to acquire the 44 percent of the biotechnology firm it does not already own for $89 a share. However, Sanford C. Bernstein analyst Geoffrey Porges noted that a deal seems inevitable, estimating a price of around $110 per share.
Pros
the money was pretty good and it was relatively easy to make connections. They seem to hire internally first, so once hired, it's relatively easy to move around and up
Cons
the commute they give interns is a little intense. They seem to move people around a lot, but that was probably more about the timing than the company in general
Our employees show commitment on the job each and every day and behave responsibly at al times toward colleagues and customers, the community and the environment. An attractive working environment, good advancement opportunities, social benefits and a high level of investment in continuing education reflect corporate responsibility. Merck has an excellent reputation for its responsibility toward its employees. Our low staff turnover is evidence of the satisfaction of our employees.
We are constantly seeking committed, highly motivated and talented people who will help to drive Merck forward. Talent is an important prerequisite for our success. That’s because entrepreneurial success starts with people with a pioneering spirit who seek for innovative solutions and are open toward life-long learning.
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