Non-members: Click here to review a complimentary excerpt from “Marketer Career Path Excellence Benchmarks: Use of Mentors to Fuel Ongoing Growth and Development of High-Impact Healthcare Marketers”
The biopharmaceutical industry has witnessed drastic changes in recent years, causing major shifts in how marketers position their organization's treatments and approach market entry. Therefore, it is critical that biopharmaceutical companies develop effective marketing training and development programs and define a clear career path for their high-potential marketers.
Best Practices, LLC undertook benchmarking research to identify how mentors can improve training and development for marketers and how organizations can create a better marketing career path at biopharmaceutical companies.
In particular, this study provides evidence-based management best practices and benchmarks from high-performing healthcare organizations regarding successful usage of mentors to maximize long-term marketer development and the essential stepping stones to create a marketing career path.
I. Ongoing Marketer Development:
II. Career Path Excellence:
- Developing high-potential marketers and future leaders
- Career path markers and succession planning
III. Best Practices for Creating a Successful Marketer Development System:
- How effective are each of the listed approaches to monitor progress and ensure the continued professional development of your marketers?
- From what backgrounds do you mainly draw on to find marketing experts to help mentor or advise your marketers?
- How effective are each of the listed approaches for incentivizing and retaining high-potential marketers?
- How does your company approach marketing succession planning to ensure continuity and ongoing high performance?
- In which of the following ways does your organization delineate the career path for new marketers?
SAMPLE KEY FINDINGS
- Regular coaching sessions are top-rated activity for ongoing development: A network of mentors and seasoned advisors create a catalytic effect for continuous growth. Mentors can aid marketing protégés via coaching sessions (86% rate this tactic highly effective for spurring ongoing development), project-based critiques (71%), result-based metric reviews (64%), and performance review sessions (54%).
Best Practices, LLC engaged 22 executives, directors and managers from 18 leading biopharmaceutical companies through a benchmarking survey instrument. More than 50% of research participants serve at the level of director or above.