Oaknet Healthcare: A leader in pharmaceutical products, harnessing lives by offering innovative treatment concepts
Oaknet Healthcare founded in 2015 by R S Raghav and a team of distinguished professionals combining more than 150 years of experience in the Indian Pharmaceutical Industry (IPM) has created a sort of benchmark by scaling up to acquire the operations of a South Africa based MNC, thereby taking a giant leap to become one among the top 100 Pharma companies in IPM. As one of the leaders in the IPM with an overall rank of around #80 in IPM with strong presence in certain therapies, Oaknet has remained dedicated to creating medicines that help improve quality of life of patients while strengthening the hands of the physician in treating various diseases in identified specialty therapeutic segments. At the heart of Oaknet’s operations is its vision of developing a Sustainable, Scalable and Specialty focused pharmaceutical company. Aligning with its vision & strategy, Oaknet is engaged in marketing state of the art pharmaceutical products inspecialty therapeutic segments as diverse as Dermatology, Cosmetology, Cardiovascular, Diabetic, Orthopedics, Gynecology etc. The company has maderapid strides with a pivoted and well aligned strategy which will steer the company towards achieving its vision.
With the objective of attaining leadership in focused Therapies and a Global Presence, Oaknet is looking forward to partnering with Global Innovators and bring in their expertise in addressing the treatment gaps and usher in technological innovations in IPM. Oaknet has an efficient and well-crafted strategy in place to achieve its vision and milestones and is currently focused on Effective Execution of these strategies. The company differentiates itselfas being led by their unique pharma strategy that leverages the reach and scale of a major pharmaceutical company paired with the entrepreneurial spirit and agility of a young and dynamic team.
The company employs a team of 1200 odd young, energetic, passionate professionals and each employee is considered to be a leader in her / his own merit. Oaknet has strong R&D process and is working with a few global partners in bringing certain state-of-the-art therapeutic innovations in Dermatology, Cosmetology, Cardiovascular, Orthopedics, Gynecology etc.The Company’s growth, dedication and work culture have drawn attention of The CEO Magazine (TCM). We recognize Oaknet as one of the best places to work for employees.
Mr. R S Raghav – CEO & MD of Oaknet recently shared his views about the work culture at the company and its plans for the future.
Here is the edited excerpt on an exclusive interview:
Does the company have a stated set of cultural values for its employees?
We have a philosophy of being “Productive in Approach, Progressive in Spirit”. Each employee lives the values of:
- Committed to Learning
We manifest the culture where “Customer is always first”.
What does it take for someone to be successful here?
The leadership team is very humane in their approach. The leadership team has started their careers as PSRs in Pharmaceutical Selling and rose up the ranks. Any employee demonstrating the spirit of progress and success gets full support of the leadership team and the line managers. As elicited above, we treat every employee to be a leader in her / his own merit.
Can you describe the environment here?
We have an excellent atmosphere of Teamwork, Performance Orientation, Industriousness and competitiveness. The leadership is highly supportive in developing people through performance.
How does the organization support its employees’ professional development and career growth?
We have an excellent training subsystem in place for developing the competencies of employees. The training subsystem and talent management process are dovetailed to establish an excellent employee development platform.
We have a comprehensive induction program for new joiners where we focus on integrating the new employees into the Oaknet culture so that we work in alignment with the organizational goals and systems apart from developing a basic understanding of company’s products and In-Clinic Effectiveness.
We have initiated a comprehensive Management Development Program “I LEAD (I Lead, Engage, Achieve, and Develop) for the 2nd and 3rd line managers wherein they are trained on the People Practices and systems apart from Business Planning.
For First Line Managers, I LEAD (I Learn & Execute for Accelerated Delivery) focuses on developing them on supervisory skills, On the Job Coaching and driving In-Clinic Effectiveness partnering with the Business Executives.
We have an internal promotion policy which mandates at least 80% of all managerial positions being filled within (through internal talent). Our leadership team manifests a culture of “Care & Compassion”. The management’s heart lies with the pharmaceutical selling professionals (Business Executives) and their success.
We have also implemented a lateral promotion policy for employees to grow horizontally if not vertically; for e.g. BE – Sr. BE – TBM etc.
How would you characterize the company’s overall management style?
The management team having come up through the ranks is fully sensitive to the needs of our BEs. The team always demonstrates the spirit of contribution to the success of 1200 odd employees and roughly 5000 odd family members.
How are employees recognized for their efforts?
Our recognition and reward programs are well benchmarked. The program rewards individual and team achievements. Beside this, we celebrate small successes in the offices so that the shared services understand their roles as business partners in the entire growth journey.
What is the work-life balance like here?
The employees enjoy adequate freedom to manage their work as well as their time and efforts. In case of exigencies, we do allow employees to work from home. We believe each one is a leader at Oaknet and hence accountability for managing life, career and performance lies with the employee/s.
Does the company host social outings or events for employees?
We believe in creating an inclusive environment and fun at workplace. We also encourage departments to conduct outbound training programs, off sites etc.
Is the company’s strategic approach driven by processes or results?
The leadership team always emphasizes the Spirit of EXECUTION. We are driven by Results; however, we believe that Processes are enablers for Sustainable Results. We have clinically ensured that our processes and systems make us nimble enough for Execution.
Do the company’s different departments ever collaborate with one another? What kinds of people seem to succeed in this company/department?
The central functions or shared services functions are business facilitators. Being a sales & marketing organization, all the efforts shall serve the employees who are our revenue centers and the faces of the organization to our customers, we mean Business Executives. We live a culture where “Customer is always first”
What are the milestones of the organization?
The typical milestones are:
- Team Oaknet has scaled up to acquiring the pharmaceutical business of an MNC within 18 months of the company coming into existence.
- Team Oaknet has been successful in rekindling the performance orientation of the employees and putting each business vertical on a growth trajectory.
- We further acquired 7 brands from the Sandoz business of Novartis in India
What is the road map and future plans of the company?
The company has plans in place to scale up the operations and achieve productivity (PCPM) of 4.5 lacs per Business Executive in the next 24-30 months. This will catapult us into top line revenue of INR 500 crores per annum. The first milestone in the process of achieving this productivity could be “we will be amongst the top 50 in IPM”.Our long-term plans are to scale up the business to a top line business of INR 1000 crores.