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Products & Services Medical Affairs Field Medical Excellence

Oncology MSL Team Excellence: Benchmarking Recruitment, Retention, and Compensation Levels

ID: 5775


Features:

14 Info Graphics

8 Data Graphics

130+ Metrics

61 Narratives


Pages/Slides: 27


Published: 2023


Delivery Format: Online PDF Document


 

License Options:


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  • STUDY OVERVIEW
  • BENCHMARK CLASS
  • SPECIAL OFFER
Non-members: Click here to review a complimentary excerpt from “Oncology MSL Team Excellence: Benchmarking Recruitment, Retention, and Compensation Levels”

STUDY OVERVIEW

Amidst the rising tide of attrition among Oncology medical science liaisons (MSLs), it is imperative for field medical leaders to implement effective strategies to attract and retain top-tier talent. An integral aspect of this strategy involves competitive compensation packages – the linchpin that fosters unwavering commitment to the team.

Best Practices, LLC undertook benchmarking research to explore current and emerging trends in the management of Oncology field medical teams, particularly in the context of virtual and hybrid MSLs. This study will help Oncology field medical groups understand how to improve MSL retention and offer competitive salaries.


KEY TOPICS

  • Effective Recruitment in Oncology Segment: Factors and Tactics
  • MSL Training Areas in Oncology Segment
  • MSL Salary Levels and Trends in Oncology Segment
  • Effective Perks and Retention Strategies in Oncology Therapeutic Area

KEY METRICS

  • MSL turnover rate in Oncology therapeutic area
  • How successful have each of the listed tactics been in effectively recruiting new Oncology MSLs over the past 6-12 months?
  • How valuable are each of the listed training types for building an effective Oncology MSL team in the current external environment?
  • What is the approximate average annual salary currently offered for new, mid-level, and senior Oncology MSLs at benchmark companies?
  • Drivers of compensation
  • Predicted Oncology MSL salary changes over the next 12-24 months
  • How effective are each of the listed perks in attracting new MSLs and retaining existing staff in Oncology segment?

SAMPLE KEY FINDINGS

  • Attrition rate: Overall, Oncology field teams have been forced to replace 28% of MSLs due to workforce attrition in the past 12 months. This includes a 34% turnover rate among field-based MSLs and a 21% rate among hybrid MSLs.

METHODOLOGY

Best Practices, LLC engaged Field Medical and other Medical Affairs leaders from 20 top Oncology manufacturers in this research through a benchmark survey. Deep-dive interviews were also conducted with field medical leaders to capture additional insights.

Industries Profiled:
Pharmaceutical; Manufacturing; Biotech; Consumer Products; Diagnostic; Medical Device; Biopharmaceutical; Health Care; Chemical


Companies Profiled:
AstraZeneca; Astellas; Bayer; Clovis Oncology; Eisai; Eli Lilly and Company; EMD Serono; GE Healthcare; Genentech; Ipsen; Kyowa Kirin; MacroGenics; Merck; Merus; Novartis; Pfizer; Rain Oncology; Roche; Servier; Takeda Pharmaceuticals

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.