Davipharm in Labour Market Dynamics Amid Economic Fluctuations

According to the latest Talent Guide 2024 by Navigos, the labour market in Vietnam continues to face numerous challenges alongside opportunities and prospects. In this landscape, Davipharm, a member of the Adamed Group, stands out with its strategic approach to addressing workforce dynamics. From recruitment to employee engagement, the company exemplifies resilience and adaptability to the fluctuations.

Approach to Labour Market Challenges and Opportunities

Amidst economic fluctuations, the labour market in Vietnam is experiencing instability, with millions of workers facing unemployment, adversely affecting their livelihoods. In 2023, over 80% of the businesses were impacted, with the primary coping mechanism being workforce reduction chosen by almost 70%, followed by over half of businesses which halted new recruitment. Employers in the pharmaceutical and healthcare sectors have also reduced their workforce, with a maximum of 1 out of 4 work staff.

Davipharm, a member of Adamed Group, has over 450 employees in its Binh Duong factory and HCMC Office. With a diverse team of experts from different countries, Davipharm continue to attract, recruit and keep talented people by knowing their needs & expectations. As job seekers increasingly prioritise commitments to work’s place security and business stability, Davipharm has garnered attention from candidates.

Visit of the President of the Supervisory Board of Adamed Pharma in Davipharm’s premises in Binh Duong, April 2023

Strategies for Sustainable Growth and Employee Engagement

Being one of the 7 biggest local pharmaceutical companies in Vietnam prescription drug market, with Adamed’s capital commitment worth USD 60 million, out of which over US$10 million has been spent on the upgrade of the Davipharm manufacturing plant in Binh Duong, know-how and technology transfer, upgrade of production standards to implement the EU-GMP and export development, Davipharm continues strengthening its market position.

At Davipharm, attractive compensation and benefits policies have motivated employees to surpass their potential, resulting in numerous successes. This is the impetus behind achieving a 47% revenue growth for sales in 2023.

Davipharm’s company trip in 2023

Additionally, training programmes, both domestic and international, along with clear career progression pathways, facilitate employee development. What’s more, regular performance evaluations, based on the management by objective processes, help in continually nurturing employee’s competencies.

According to Navigos’ survey, almost half of workers express interest in flexible working arrangements, while over 40% prioritise mental health concerns, highlighting the significance of work-life balance. Davipharm is also pursuing to create the most conducive working environment for its employees, emphasizing healthcare support through health insurance programs, in addition to mandatory social welfare benefits.

Excellence in Pharmaceutical Manufacturing and ESG

Davipharm, a member of Adamed Group, is one of the leading domestic manufacturers of high-quality generic drugs. Established in 2004 and certified in 2007 with the first WHO-GMP, in 2014 Davipharm reached the first 100 registered products and started exporting its medicinal products to the Philippines and Cambodia. In November 2017, Adamed Pharma acquired 70 percent of shares in Davipharm, and in April 2023 the company acquired the remaining shares and became the only shareholder of Davipharm. Since the beginning of Adamed investment in Davipharm, the company’s HP Zone has been certified by DAV (Drug Administration of Vietnam) as the first high-potent drugs manufacturing area in Vietnam (2021). Davipharm among several companies in Vietnam, also obtained its first EU-GMP certification in 2021. The company has been also conducting technology transfers, creating numerous job opportunities and career advancement prospects.

One of the emerging job trends in the market and at Davipharm is the integration of data analysis positions within specific departments, providing deep quantitative insights to contribute to the excellent operational performance of the department.

Many job opportunities and career advancement prospects with Davipharm HERE.

Davipharm provides medicines in 12 different therapeutic areas, with a mission to respond to the key challenges of modern medicine, and visions to deliver high-quality products and services at affordable prices to elevate the image of made-in-Vietnam medicines, supplying products to local and international markets.

Corporate values such as Openness and Innovation, Quality, Mutual Respect, Operational Excellence Flexibility and Speed of Action like corporate culture resonates with both candidates and employees. Through employer branding activities and diverse recruitment channels, Davipharm aims to maximise outreach to potential candidates. It has been also cooperating with the University of Medicine and Pharmacy in HCMC and Binh Duong Medical College, organizing internships and offering employment for the best students.

Davipharm regularly collaborates with universities to organise pharmaceutical workshops, attracting a large number of students to participate.

When workers increasingly value the community impact of their work, as a socially responsible business, under the brand of Adamed and Davipharm, over the last years, the company has funded the educational program ADAMED SmartUP supporting the local community of Viet Nam-Ba Lan School in Hanoi, and a nationwide Non-Communicable Diseases Prevention and Early Detection Program “Chăm Sóc Sức Khỏe Việt” for doctors, pharmacists and the community, run in partnership with the Vietnamese Ministry of Health.

Davipharm has been cooperating for 4 years with the Ministry of Health in the prevention, early detection, and treatment of NCDs in Vietnam.

“Speaking of development, at Adamed we believe that business cannot grow without people. We want you to feel proud of where you work, that this becomes your dream job. A highly-motivated team is one of the main factors for business success.” – said Małgorzata Adamkiewicz, President of the Supervisory Board of Adamed Pharma during her meeting with Davipharm Team in April 2023. Shortly after, her words were reflected in the prestigious Forbes Polska Ranking: Poland’s Best Employers 2023 – The Best Employers in Poland 2023 where the company was ranked 1st among employers in the pharmaceutical and biotechnology industry.

This year, Adamed Pharma again was ranked 1st among employers in the pharmaceutical and biotechnology industry and 15th in the overall Poland’s Best Employers 2024 Forbes Polska Ranking. Moreover, in the latest edition of the independent ranking of the 50 Best Polish Employers of the Polish weekly magazine Wprost, Adamed took a high 7th place, being the only pharmaceutical company mentioned in the ranking.Recognised for its commitment to employee well-being, in 2024 Davipharm has been nominated for the Top 100 Best Places to Work in Vietnam by Anphabe, reflecting its goal to be a beloved employer brand on its growth journey, recognising employees as its most valuable assets.

This year marks the 20th anniversary of Davipharm. Starting from a small local company, now being a part of the international group and one of the fastest growing pharmaceutical companies in Vietnam, this success story wouldn’t be possible without people and continuous talent growing within the organization.

Check out the article on Người Lao Động newspaper HERE!

*Talent Guide 2024 by Navigos is based on surveys from over 550 businesses and more than 4,000 workers across various industries, with over 70% of small to medium-sized enterprises having fewer than 500 employees.