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25DB




Products & Services Sales Leadership Sales Training

Factors That Drive Results for Biopharmaceutical Sales Training Programs: Resources, Structure and Scope

ID: 5567


Features:

8 Info Graphics

15 Data Graphics

70+ Metrics

2 Narratives


Pages/Slides: 30


Published: 2019


Delivery Format: Online PDF Document


 

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  • STUDY OVERVIEW
  • BENCHMARK CLASS
  • SPECIAL OFFER
Non-members: Click here to review a complimentary excerpt from “Factors That Drive Results for Biopharmaceutical Sales Training Programs: Resources, Structure and Scope”

STUDY OVERVIEW

Developing effective sales training programs is increasingly important for biopharmaceutical companies to not only enhance employee productivity but also to keep them abreast with rapid industry changes. While a myriad factors determine the success of a sales training program, the resources and structure of a company's sales training organization have a significant impact on its effectiveness.

Best Practices, LLC undertook this benchmarking research to identify the optimal resource levels and organizational structures that drive effectiveness in high-performing sales training departments
within pharmaceutical and biotech companies. Sales training leaders can refer to this report to evaluate and compare the performance of their sales training organizations with those of industry peers.

KEY TOPICS

  • Sales training budget trends and management
  • Successful practices to stretch the sales training budget in times of flat or reduced corporate funding
  • Sales training organizational structure

KEY METRICS

  • Please indicate how you expect your company’s Sales Training budget to change over the next two years
  • What successful or innovative practices have you used to stretch the Sales Training budget in times of flat or reduced corporate funding?
  • What is the total number of FTEs working in your Sales Training function (include contractors who report to the head of Sales Training)?
  • Indicate which of the listed approaches best describe the organizational structure of Sales Training at your company
  • Provide the job titles of the person who heads your Sales Training function and the person to whom the head of Sales Training reports
  • Which of the listed regions are covered by the sales force(s) that your function trains?
  • How close is the physical location of your Sales Training function to the Marketing staff?

SAMPLE KEY FINDINGS

  • Sales training budget averaged $5.2M: Total sales training budget for participated companies averaged $5.16 million (US) in 2018. Participants allocate an average of 37% of the budget to train new talents and 25% for ad hoc training and POA meetings.

METHODOLOGY

Best Practices, LLC engaged 56 sales training leaders from 36 pharmaceutical and biotech companies through a benchmarking survey. Research analysts also conducted six deep-dive executive interviews with selected benchmark participants. More than half of the benchmark participants serve at the director level and above.

Industries Profiled:
Biotech; Pharmaceutical; Medical Device; Manufacturing; Consumer Products; Diagnostic; Chemical; Health Care; Biopharmaceutical; Clinical Research; Laboratories; Professional Services


Companies Profiled:
Allergan; Arbor; Astellas; AstraZeneca; Avion Pharmaceuticals; LLC; Baxter Healthcare; Bayer; Biogen; Celgene; Dr Reddy's Laboratories; Eisai; Eli Lilly; EMD Serono; EryDel; Genentech; Grifols; Ipsen; Janssen; Jazz Pharmaceuticals; Johnson & Johnson; Lundbeck; Merck; Novartis; OTSUKA; Pernix Therapeutics; Pfizer; Sanofi; Shire; Strategic Outcomes; Sunovion; Takeda Pharmaceuticals; Teva Pharmaceutical Industries Ltd; UCB Pharma; Valeant; Verastem Oncology; Zydus Cadila

If you purchase Best Practice Database document(s), you will have 30 days from the date of purchase to apply some or all of the cost of the document(s) toward the cost of a Full Access Individual, Pharma, Group or University Membership. Write us at DatabaseTeam@bestpracticesllc.com or call David Guinn at 919-767-9179 if you have any questions.