Yuhan-Kimberly’s Paradigm: Respect for Human Dignity

Yuhan-Kimberly’s Paradigm: Respect for Human Dignity

Yuhan-Kimberly’s Paradigm: Respect for Human Dignity – What Pharma India Corporate can imbibe from this

The business philosophy of Yuhan-Kimberly (Y-K), the best employers in Asia some years back, is derived from the business philosophy of the company.

1. Respect for Humans: Y-K does not consider employees as raw material for production but considers them as family members who can all grow together.

2. In crisis as during the Asian economic crisis at the begining of this century, when 40% staff was considered redundant, the company drew up a plan where all workers worked in shifts. Result no layoffs, but of course, lower take-home wages.

3. Company offered employees corporate-sponsored in-house educational opportunities in many skills

4. The new paradigm resulted in higher productivity, higher incentive pay and as result, increase in wages

This is an excerpt from the book “Management Cases” by Peter Drucker.