Baxter Healthcare Ltd clinches two awards at HKB Management Excellence Awards 2019
The company develops their employees to the fullest potential in order to carry out their mission to save and sustain lives.
Baxter Healthcare Ltd bagged the Employee Engagement of the Year Award and the Team of the Year Award for pharmaceuticals at the Hong Kong Business Management Excellence Awards 2019.
Now on its second year, Hong Kong Business Review merits the city’s most outstanding business leaders, including exceptional teams and individuals whose initiatives have resulted in substantial business gains for their company’s operations.
Baxter Healthcare Ltd, founded in 1931, is dedicated to transforming global healthcare by improving patient outcomes and rising up to the evolving challenges and opportunities in the global medical field.
The company has been operating in Hong Kong for 36 years, manufacturing products for critical, hospital, nutritional, renal, and surgical care. Their products empower clinicians to be more efficient and effective healthcare practitioners by providing a more personalised care to people from all walks of life. To fulfill this, Baxter Healthcare Ltd focused their efforts on three areas through pushing an organisation where employees pursue fulfilling careers, promote an environment of trust and take pride in embodying the company’s mission.
With a goal to invest in manpower and develop talent to its fullest potential, the company offers need-based opportunities and puts more attention towards the team’s managerial roles. To take advantage of flexibility and drive collaboration, Baxter Healthcare Ltd is committed to providing a friendly and pleasant working environment that supports employees and helps them achieve optimum work-life balance.
For instance, their Mission in Baxter launched a series of new initiatives like sharing patient stories and visiting patients’ homes. Apart from this, the company’s benefits programme incorporates a family-friendly element through a comprehensive medical plan that covers dependents. The plan also permits employees to apply for extended sick leaves should the need arise.
The company also endorses good well-being and diversity. They launched their health awareness campaign, Biggest Mover, to promote at least 30 minutes of regular exercise into employees’ daily lives.
Working hours in the business have been flexible since 2014, and 85% of their employees are onboard the implementation of this scheme.
Baxter Healthcare also has multiple sports teams, healthy cooking and eating programmes, stress release activities and continuous learning opportunities. Their BeWell initiative fortifies the bond and collaboration of the company’s employees, and their programmes yield 100% employee participation.
Meanwhile, their Your Dream Proposal competition encourages patients to write about their dreams and wishes. Patients submit a simple yet feasible proposal to the company so that they can make these dreams into a reality.
In 2018 alone, the Baxter Healthcare staff contributed 300 voluntary hours for 15 local community services, including 96 hours for patient groups. The results of these programmes are reflected in the 100% top talent retention as well as the company’s maintenance of its low turnover rate.
Because of these initiatives, the medical manufacturer earned awards such as Distinguished Family-friendly Employer by Family Council of the Government in the years 2014, 2016, and 2018. They also earned the Best Employer of Hong Kong by Aon Hewitt on 2016, thereby becoming the first healthcare company in the country to be merited with the award. It was also heralded as one of the Best Companies To Work for by HR Asia in 2018 and 2019.
Their Hong Kong Acute Therapies Team also contributed greatly to the company’s business growth.
Upon their decision to relaunch blood purification supplement, oXiris, the award-winning team contributed 28% of 2018 total acute business growth, which is 13% more compared to the previous year’s advancement.
They have also positioned oXiris as healthcare professionals’ most preferred evidence-based practice option for septic acute kidney injury patients. They implemented five strategies in order to meet insufficient clinical data, guideline and measurement that supports the use of oXiris and justify the price difference between ST sets and the product.
Their efforts have yielded a significant increase for Baxter’s acute business growth as well as the company’s status as a market leader in the continuous renal replacement therapy market. As of writing, Baxter’s market share amounts to 80% whilst its machine IB share sums to 82%. Meanwhile, the company’s annual growth rate for the past years has been recorded at 2 to 3%.
Watch the interview below to know more about their success:
The second Hong Kong Business Management Excellence Awards was held on November 21, 2019 at the Conrad Centennial Hotel Hong Kong.
The 2019 nominees were judged by a panel consisting of Charbon Lo Director of Crowe (HK) CPA Limited; Roy Lo, Managing Partner of SHINEWING (HK) CPA Limited; Anthony Tam , Executive Director of Tax Advisory Services Mazars Hong Kong; Andrew Ross, Managing Director of Baker Tilly Hong Kong; and Eugene Liu, Managing Partner of RSM Hong Kong.
If you would like to join the 2020 awards and be lauded as one of the most outstanding management executives of Hong Kong, please email email@example.com.