Merck essay

In 1983, Merck experienced a decline and began to lag behind their competition. In 1985 the Employee Relations Review Committee was established.

Employee interviews revealed that rewards for excellent performance were not adequate: outstanding performers received salary increases that were, in many cases, only marginally better than those given to average performers. The majority of the employees received a rating of 3 or 4, there was very little differentiation among the organization.

Merck & Co., Inc., a major pharmaceutical company was originally a family owned business in Germany. In 1887, Merck opened an office in New York City. The enterprise became incorporated in the US in 1908. Today, Merck manufactures 80 prescription pharmaceuticals and vaccines. At one time Merck grew from $218 million in 1960 to $6.6.

The mission of Merck is to provide society with superior products and services by developing innovations and solutions that improve the quality of life and satisfy customer needs, and to provide employees with meaningful work and advancement opportunities, and investors with a superior rate of return.