Healthy Governance and Health-Focused Priorities

The board of Ósar and its subsidiaries is aware of the increasing demands placed on companies regarding their responsibility to society. The board emphasizes healthy governance practices and continuous development and strengthening of these practices, as they lay the foundation for responsible management, sound decision-making, and strong relationships.

The governance practices of the group dictate how the internal organization fosters active and healthy management, guided by the group’s objectives. We aim to have a positive impact on society, including our employees, and to help individuals maintain their health and well-being, thereby improving their quality of life for the future. The group’s governance practices reflect these goals and are evident in health-related priorities when it comes to policy-making, decision-making, goal setting, and culture, both internally and externally.

Framkvæmdastjórn Ósa

Ósar Executive Team

Top row from left: Hálfdan Gunnarsson, Director of Parlogis; Solveig H. Sigurðardóttir, Director of Human Resources; Hörður Þórhallsson, CEO of Ósar; Hjörtur Gunnlaugsson, Director of Healthcare Division, Icepharma; Þuríður Hrund Hjartardóttir, Director of Health and Sports Division, Icepharma; María Bragadóttir, Director of Finance.

Bottom row from left: Lilja Dögg Stefánsdóttir, Director of Pharmaceutical Division, Icepharma; Þorgeir Arnar Jónsson, Director of Marketing.

Comprehensive Risk Management and Active Quality Control

Ósar’s operations are, in several ways, dependent on external circumstances, including the considerable influence that much of its business falls within the defined framework of the healthcare system. As a result, the operations are governed by laws and regulations which demand meticulous work practices across all areas . Healthy governance practices include risk management and monitoring. Therefore, there is a strong emphasis on comprehensive risk management and active quality control as part of daily operations.

The Group’s Quality Management System

In 2023, we emphasized improving our quality management system to ensure that all operations meet the highest quality standards. We have systematically worked on implementing new procedures and improving existing ones, all with the aim of ensuring reliability and enhancing service to our customers.

We introduced a new temperature monitoring system for the warehouse to ensure proper storage conditions, which is particularly important for the operations we conduct. In 2023, Parlogis implemented an electronic returns management system to improve efficiency and traceability in the returns process. This system makes it easier for customers to return products, enhancing service to them and simplifying the process, leading to less waste.

There was also an emphasis on the education and training of staff, as employees sought knowledge of quality matters both domestically and internationally to develop and grow in their roles. This ensures that we maintain competence and progress, enabling us to operate in a professional environment that is constantly evolving.

Soffía Guðrún Magnúsdóttir
Quality Manager

Code of Ethics and Communication Guidelines

Our operations require that the companies and their employees adhere to the highest standards, laws, and regulations regarding ethics and communication. Our staff follows codes of ethics and communication guidelines that reflect how employees interact with consumers, suppliers, customers, colleagues, regulatory authorities, shareholders, competitors, and society. The purpose of these guidelines is to promote social responsibility, honesty, fairness, and integrity in business, and to enhance trust in Ósar and its subsidiaries.

Honest and Responsible Business Practices

Ósar and its subsidiaries conduct honest and responsible business where bribery and corruption are neither practiced nor tolerated. The group has established a policy aimed at ensuring that the company has appropriate safeguards and defenses against corruption and bribery.

Supplier Evaluation and Audits

The group’s value chain is built on ethical and responsible values. By conducting supplier evaluations and audits, Ósar and its subsidiaries can exert social influence on their partners and the surrounding environment for the future, choosing to work with suppliers and service providers who operate according to the same values as the group.

Health-Focused Occupational Safety

Good health and methods to promote health are central to all our internal operations. We know that well-being in the workplace enhances the quality of life for employees, and therefore we emphasize creating a safe and positive work environment and promoting the health of our employees in numerous ways. As a result, we have increasingly focused on structured internal occupational safety work, including raising the knowledge and awareness of managers and employees about health and safety issues. You can read more about the group’s human resource matters here.

Information Security in Focus

We recognize that the information and data that employees receive, collect, record, process, etc., along with the supporting processes, systems, networks, and other resources, are some of the most valuable operational assets of the group, requiring active protection against various threats. Over the past year, we have placed a major emphasis on information security matters in a broad sense.

The group has established an information security policy and procedures to support it, aimed at ensuring continuous operations and maximizing the security of information assets. This policy is designed to ensure compliance with information security requirements and the processing of personal data, such as those outlined in laws, regulations, and contracts with customers and partners.

Responsible Handling of Personal Data

The highest level of security is maintained when handling personal data, and the group’s privacy policies reflect responsible handling of such information. The role of Ósar’s Data Protection Officer is to assist managers by providing advice on the handling of personal data within the operations. Additionally, the Data Protection Officer plays a crucial role in educating and training employees, raising awareness of information security among staff. The group has established a privacy policy for employees, with a strong emphasis on providing information to staff.

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Investment in Human Resources

The group’s governance practices aim to create opportunities and space for employees to grow and thrive in their personal and professional lives. Therefore, we place a strong emphasis on offering a variety of education and training that caters to the diverse group of employees.

We Create Opportunities for Growth and Development in Life and Work

Our education policy is designed to enable employees to enhance their skills and fully utilize their abilities in their work. The policy also aims to provide employees with access to diverse training that contributes to the overall well-being of the employee and those close to them. In this way, we ensure maximum effectiveness of the training and education in which we invest.

In 2023, 183 out of 210 employees participated in Ósar’s educational activities, or 87%.

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Ósar Support Function

The number of participants totalled 1,085, meaning that, on average, each employee took part in six events.

Education in the fields of health and communication was particularly prominent and popular among employees, with 36% of total participation in education belonging to the health category and 17% in the communication and teamwork category. Topics included training on bullying, sexual and gender-based harassment and violence (EKKO), nutrition, exercise, fascia release, psychological first aid, positive habits and goals, and more.

Leadership training for the management teams of Ósar and its subsidiaries, which began in the autumn of 2022, also continued. This training focused on supporting managers and strengthening their connections with each other. Additionally, an extensive management handbook was published to support managers in human resource management. The handbook provides information on procedures, standards, and access to a wide range of support and educational materials.

Ósar’s Guiding Principles

Ósar’s guiding principles lead employees in their daily work and interactions and are a significant factor in creating a positive and good workplace culture. The guiding principles are the result of a strategic planning process in which all employees of the group participated, collectively creating the communication agreement. The eight guiding principles are as follows:

  1. We treat each other with respect.
  2. We talk to people, not about them.
  3. We listen attentively and show interest.
  4. We speak our minds and choose the right time and place.
  5. We look out for each other and offer support.
  6. We share ideas and welcome different viewpoints.
  7. We have the space to learn and grow in our interactions.
  8. We take the opportunity to praise each other.

The guiding principles are intended to guide and strengthen us in our interactions and have become an important part of daily work and communication within the group.

Good Employment and Improved Living Standards

Ósar employs a dedicated team of individuals with diverse backgrounds, varied education, and extensive experience and knowledge in various fields of society.

The Group

In parallel with the gender equality plan, we work according to an equal pay policy aimed at ensuring that all employees receive equal and fair compensation for the same or equally valuable work, thereby eliminating any unjustified wage disparities. If an unexplained wage gap exists, continuous efforts are made to eliminate it.

Our goal is for the gender pay gap to remain below 2%.