What it’s like to work at Remedica

Our vision ‘For a Healthier World' does not require explanation; our products help improve the quality of human life and can save the lives of millions," says Elena Krutova, Chief HR Officer at Remedica.

Indeed, this vision threads through the company's ethos, weaving a profound sense of purpose through the workforce of the Limassol-based pharmaceutical company.

Founded in 1980, Remedica has grown into a powerhouse, becoming one of Cyprus' biggest exporters as pharmaceuticals dominate the island's exportable products, reaching some €335.6 million in 2023. Today, it specialises in the development, production and sale of both pharmaceutical and healthcare products, working from five state-of-the-art factories that have received the stamp of approval from health authorities in Germany, Denmark, the UK, Australia and Japan, to name a few. It employs more than 700 people, many possessing PhDs and Doctorates in chemistry, biology and pharmacy. Krutova notes that, "The high level of professional expertise in the company is one of our core competitive advantages; our experts also act as role models for other younger talents."

Remedica’s professional development programmes are not solely technical but also focus on building leadership and soft skills. Elena Krutova cites the success of a fairly recent programme, which saw over 100 managers honing an array of leadership essentials, from negotiation skills to communication fundamentals, as bringing a palpable change to the leadership dynamics within the company.

Despite Remedica's growth and success, the last few years have been marked by challenges, following changes to the ownership structure, the departure of long-time CEO Michalis Neoptolemou, and pressure exerted by macroeconomic headwinds. Still, Krutova reveals, the company has weathered the storm, largely anchored by a culture steeped in open communication and trust. "A few weeks ago," she explains, "we had a quarterly meeting to which all our employees, both from the office and production, were invited. We shared the corporate news, answered questions and had an awards ceremony to celebrate those who had gone above and beyond."

In keeping with the company's commitment to open dialogue, Krutova shares insights gleaned from a recent engagement survey – the company conducts regular and pulse surveys by demand and on a team basis – that revealed a need for tools to allow employees to share their thoughts, even via anonymous channels. To meet this need, it launched a so-called speak-up platform and an "Idea box", which enable employees to actively shape the company's next day. "Also," she adds, "many small but important changes were made for employees: changes to the bus schedule, improvements in shift planning to reduce overtime, and appreciation days such as pizza and ice cream days. This balance between small and big improvements works very well and we have already seen positive outcomes."

To help its employees in the ceaseless quest for work-life balance, the company has adopted a daily office working schedule that ends at 4 pm, leaving room for personal pursuits and family time while production employees work shifts with almost no overtime. Krutova also mentions that the company encourages employees to work from the office to resolve practical issues quickly and efficiently, eliminating the need for after-hours work. "All these simple actions help us to keep healthy boundaries for people," she explains. Beyond this, Remedica offers a comprehensive benefits package tailored to its workforce's diverse needs, including 13th and 14th salaries, discount programmes, a provident fund, medical insurance, gym facilities and accommodation for commuting staff.

"Many of our employees in Cyprus are proud to be part of Remedica, as the company has an unquestionable heritage of being a flagship employer for decades,” Krutova shares, adding, “We have people who have been working with us for more than thirty years and the average tenure is above ten years. This is something to be proud of because we are all in the 'Good Company'!”

(Photos by Giorgos Charal.)

This interview first appeared in the May edition of GOLD magazine. Click here to read it.