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Products & Services Sales Leadership Sales Training

Meeting Pharmaceutical Sales Rep Training Needs

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ID: 4919


Features:

Metrics, Graphics


Pages/Slides: 23


Published: Pre-2014


Delivery Format: Online PDF Document


 

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Sitewide: Authorizes use of the report for a geographic site. All people at site can view the report for a year and copies can be printed.

Corporate: Authorizes use for the entire company for a year and copies can be printed. No limitations for usage inside the company.




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  • STUDY OVERVIEW
  • BENCHMARK CLASS
  • SPECIAL OFFER

Non-members: Click here to sign-up for a complimentary tour of
"Meeting Pharmaceutical Sales Rep Training Needs"


STUDY OVERVIEW
The effectiveness of pharmaceutical sales training during a representative's critical first year on the job dictates the future success of the employee, affects the rate of sales force turnover and directly impacts corporate revenue. Given the diversity and complexity of the subject matter, bringing new reps to full productivity is a huge challenge for pharmaceutical sales training leaders. This means that the executives designing such formal training programs must be able to identify what makes a program successful and direct the appropriate level of budget resources to meet those needs. Formal training is training that is required and tracked by the employer, including assigned readings as well as classes, computer-based courses, e-learning, etc. This research can help pharmaceutical sales training leaders identify not only the content that is most effective in training but also the qualifications needed in applicants to best take advantage of the training investment as well as compare their budget and outsourcing metrics to those with other companies.

KEY TOPICS

  • Sales Rep Qualifications
  • Training Content by Employment Interval
  • Frequency of Training Types
  • Projected Future Training Content Needs
  • Budget Trends and Outsourcing of Training

DATA SEMENTATION
Since two-thirds of the benchmark class have U.S. sales responsibilities, the data has been segmented by U.S. (15 respondents) vs. non-U.S. sales leaders (9 respondents). Of the non-U.S. segment, the largest number is responsible for the Asia-Pacific market.
  • U.S. Segment – This segment includes only responses from the 15 participants whose training organizations serve U.S. sales forces.
  • Non-U.S. Segment – This is the group of nine respondents whose training organizations support sales forces outside the U.S.

KEY METRICS
Note: Some metrics are divided into four training intervals, including the first 30 days, 30-90 days, 90-180 days, and 180-365 days.
  • Percent of Candidates with Most Common Rep Attributes
  • Percent of Companies Requiring Certain Job Qualifications
  • Percent of Companies Providing Training in Certain Areas at Employment Intervals
  • Percent of Companies Offering Training Types at Employment Intervals
  • Average Training Budget Per Rep. Trained (All Reps U.S. vs. New Reps U.S.)
  • Distribution of Training Resources for New Reps. Vs. Experienced Employees (Percent of Employees Trained, Percent of Training Hours, Percent of Training Budget)
  • Average Budget per Training Hour (All Reps U.S. vs. New Reps U.S.)
  • Budget Efficiency Based on Employees Trained
  • Budget Efficiency Based on Training Hours
  • Percent of Training Budget Outsourced
  • Average Outsourced/Internal Budget per Hour of Sales Training (U.S.) vs. Average Outsourced/Internal Budget per Employee Trained (U.S.)

SAMPLE BEST PRACTICE WITH COMPANY EXAMPLE
*Companies outsource design or delivery of some of their training content to third parties to maximize limited internal resources.
--At Company B, outsourcing is used only for certain “corporate-wide initiatives that involve a transferable skill across all business areas, for example, coaching. If it’s product-specific training, it is all done in house."

METHODOLOGY
This research was conducted on behalf of one of Best Practices, LLC's Business Excellence Board (BEB) clients and was based on survey and interviews with 24 pharmaceutical, biotechnology and medical devices company sales training leaders at 19 companies. Sales leader titles include directors of sales force effectiveness, corporate learning, and training and development. The benchmark class includes sales forces that differ in size, volume of new reps trained, types of sales groups supported, and geographic regions. Three quarters of the benchmark partners are in the pharma industry, with the remainder in biotechnology and medical device industries.

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


Companies Profiled:
Merck; Sanofi-aventis; Roche; Fournier Pharmaceutical; Abbott Laboratories; Novartis; GlaxoSmithKline; Pfizer; Johnson & Johnson; Schering-Plough; Medrad; Bristol-Myers Squibb; Amylin; Bayer; UCB Pharma; AstraZeneca 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.