What are the latest trends in the pharmaceutical industry?
For nearly 20 years, Hay Group has conducted a comprehensive study on current trends and practices in sales force effectiveness specifically for the pharmaceutical industry. This year's study examines the modules listed below.
To learn more information about the study, please contact Carrie Fisher at +1.201.377.5879 or send an email to HayRxSFE@haygroup.com.
- Module 1: Talent and Performance
It is reported that the cost of replacing a single pharmaceutical sales representative is well over $100,000, which does not even include lost sales opportunity. This module examines trends and practices employed to attract, retain, and motivate sales talent in the context of today's complex and expanding marketplace. As part of this analysis, the latest industry rates for voluntary and involuntary turnover for various sales positions are reported.
- Module 2: Compensation
Our comprehensive database includes market pricing data for sales and sales management positions in Primary Care, National Accounts and Managed Care, Hospital Sales, Oncology Sales, and a variety of other Speciality Sales positions. The compensation data information is provided in an interactive Excel-based format that enables you to analyze and download data by job, therapy, market segment, and geography.
- Module 3: Market access and emerging commercial practices
As gatekeepers continue to expand their prominence in the industry, there is an industry-wide need to assure that organizations are properly structured, staffed, and measured to meet increasingly important access requirements. In our experience, the market access function is deemed strategically important to business success, yet is not always clear as to its mission, structure, resources and expectations. In response to this situation, our third study module examines current practices for this key function, including role definition, structures and reporting relationships, selection for the role, career paths, performance metrics, training/development, use of competencies, and performance.
- Custom analyses
Hay Group Insight offers custom analyses of data results to individual company participants to provide valuable information on current trends and industry benchmarks uncovered in the study.
- Executive presentation of competitive compensation position
Hay Group Insight can conduct individual on-site presentations to executive staff to discuss company-specific implications of the study. An executive-level presentation format of study findings for your company is designed for this purpose.
2013 Pharmaceutical sales force effectiveness registration form