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» Products & Services » » Human Resources » Employee Staffing and Performance Measures

Navigating KPI and Performance Measurement Challenges During the Global COVID-19 Pandemic

ID: 5632


Features:

9 Info Graphics

9 Data Graphics

50+ Metrics

22 Narratives


Pages/Slides: 28


Published: 2020


Delivery Format: Online PDF Document


 

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  • STUDY OVERVIEW
  • BENCHMARK CLASS
  • STUDY SNAPSHOT
  • KEY FINDINGS
  • SPECIAL OFFER
Non-members: Click here to review a complimentary excerpt from “Navigating KPI and Performance Measurement Challenges During the Global COVID-19 Pandemic”

In response to the COVID-19 pandemic outbreak, organizations have moved quickly to a virtual set-up to mitigate work disruptions. While this situation demands dedication from employees to maintain business stability, many organizations are challenged by how to measure the performance of their employees during the COVID-19 pandemic.


Best Practices, LLC conducted this benchmarking research to find out how life science companies are changing key performance indicators (KPIs) during the COVID-19 pandemic.

This new study examines critical adjustments being made in KPIs and performance measurement, measurement period, authority, and duration in order to accurately monitor and manage performance during the pandemic. The study also highlights the top challenges being encountered around performance measurement and suggestions from industry peers for improved assessment during COVID-related business disruption.


Industries Profiled:
Biotech; Pharmaceutical; Biopharmaceutical; Health Care; Communications; Medical Device; Research; Clinical Research; Laboratories; Science


Companies Profiled:
Allergan; Almirall; Arena Pharmaceuticals; Astellas; Braeburn; Cipla; Daiichi Sankyo; Eagle Pharmaceuticals; EMD Serono; Grifols; Grünenthal; Guerbet; Horizon Therapeutics; LEO Pharma; Lupin; Melinta Therapeutics; Inc; Merck; Milestone Pharmaceuticals; NexGen Healthcare Communications; Novartis; Pfizer; Roche; Sarah Cannon; Sanofi Genzyme; Sanofi; Thermo Fisher Scientific; Think Surgical; Inc.; Takeda Pharmaceuticals; XACT Robotics

Study Snapshot

Best Practices, LLC engaged 40 executives from 29 life science companies in this research through a benchmarking survey. About 80% of the participants serve at the director level or above, with 88% of respondents from pharma and the rest from medical device and diagnostic companies.

Key topics covered in this study include:

  • Performance measurement changes during the pandemic
  • Changes in KPIs and reasons for the changes
  • Change in measurement period of KPIs and reasons for the change
  • KPI change authority and duration
  • Struggles in KPI standardization during the pandemic
  • Suggestions in adapting changes in KPI during the pandemic

Key Findings

Select key insights uncovered from this study are noted below. Detailed findings are available in the full research.

  • Companies adopting softer metrics: With about half of companies changing their KPIs already, many are opting for softer measurements as doctors and others in healthcare are unavailable at this point in the crisis.

  • Current KPI situation will change as crisis lessens: Constant evaluation of metrics should be expected. Once the pandemic crisis ebbs, management will seek to re-assess KPIs more fully, according to 60% of respondents.

  • Evolving metrics coming for medical affairs and sales: Besides the elimination of F2F measurements, some companies are cutting virtual KPIs as reaching HCPs remains difficult. There are shifts to learning goals and project-based KPIs in both functions – things within an individual’s control.

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.