Non-members: Click here to review a complimentary excerpt from "Pharma Corporate Library Services: Financial Resources and Staffing"
Shrinking budgets and increasing responsibilities add to the complexities of handling corporate library operations. Best Practices, LLC undertook this study to understand how benchmarked libraries balance budget, resource and service levels in their organization. Metrics and insights in the document will help corporate library managers in allocating the cost and staff hours to various activities. Corporate libraries can benchmark the financial resources, cost recovery practices and penetration of potential user base at their companies with those at leading organizations within the biopharmaceutical and medical device industries.
- Financial resources
- Cost recovery practices
- Distribution of FTE hours by service category
- Penetration of potential user base
SAMPLE KEY METRICS
- Total library organization cost of benchmarked companies
- Cost per potential & actual user
- Cost recovery methods used
- Percentage of total FTE hours allocated by process
SAMPLE KEY FINDING
People Allocation: Participants allocate the most FTE hours (average 35%) to reference and research services, followed by electronic resources management at 23%. In the Pharma Segment, more FTE hours went to e-resource management (28%) than to reference & research services (27%). Print-related services took only 4% of hours for benchmark participants overall and 5% for the Pharma Segment.
Twenty companies participated in this benchmarking study, with 12 representing the pharmaceutical/ biotech industries, 4 representing the medical device industry, and 4 representing other healthcare businesses.