As the talent market continues to reduce in size, organizations are investing heavily in efforts to retain and attract new and existing talent. Unfortunately, despite the increased importance of talent management initiatives, organizations are struggling to understand why there are still high rates of employee turnover, particularly high performing women. This resource provides best practice […]
Retaining Your Talent in Life Sciences
Why expend so much time, energy, and resources hiring and developing talent, only for an organization’s stars to voluntarily leave the organization? The costs (financial and otherwise) associated with voluntary turnover are not insignificant. Direct costs associated with recruitment, hiring, and training are more obvious. Indirect costs associated with reduced productivity, lost opportunities, lower morale, […]
Overcoming the Pitfalls of Traditional Compliance Training for Sales Professionals
Since 2007, more than 30 bio-pharmaceutical companies have been fined over $13 billion for sales and marketing compliance violations. All of these companies had compliance training programs in place to meet the 2003 OIG Compliance Program Guidance for Pharmaceutical Manufacturers. Yet, these training programs were not sufficient to prevent the violations and fines. Why? They […]
Focus-Change Agility a Winning Capability at All Levels
As organizations and teams are comprised of individuals, it is important that an overarching philosophy and commitment to develop individual change agility exists. Senior leadership and learning organizations must be committed to working together to embed practices that equip individuals with appropriate skills. These skills will ensure employees at all levels of the organization can […]
Culture of Collaboration: Challenges and Best Practices
As the healthcare marketplace continues to consolidate with larger organized customers, life sciences companies rely more on effective field collaboration and account management practices to produce desired results, deliver value, and improve healthcare outcomes. Alignment and collaboration between field and home office stakeholders is also critical to ensure marketplace trends are shared and acted upon […]
Retaining Female Talent in the Workplace
It’s been twenty years since Steven Hankin of McKinsey & Company first coined the term, ‘War for Talent,’ yet many industries continue to wage all-out battles to recruit, hire, develop, and most importantly, retain the ‘best and brightest’ to ensure the vitality of their organizations. According to many accounts, women make up roughly half the […]
Retaining Female Talent in the BioPharma Industry
With many Boomers occupying key leadership positions, the management exodus promises to be significant. At the time of this writing, the economy has been on a strong upward trend, characterized by a surplus of job creation and employment opportunities. Much has also been written about the impending wave of retirements as the Baby Boomer cohort […]
ODP-Five Critical Principles to Guide Organizational Change
In order to respond to the fast pace of social, political, economic, and technological forces, organizations must be nimble at effectively responding to challenges and taking advantage of opportunities. Most organizations and their leaders struggle with developing and implementing all types of large-scale change.
Connecting the Dots… 10 Lessons Learned for Creating an Account Management Mindset
The idiom “connecting the dots” describes one’s ability to understand the relationship between different ideas, experiences, and trends. The evolving healthcare marketplace is changing how prescribing decisions are being made, especially in larger organized customers.
Executing a Key Account Management Strategy
Life sciences companies can no longer rely on the “one-to-one” or “sales representative to physician” model to drive growth. Treatment decisions are often made by various stakeholders across large and complex healthcare and government institutions. They face the challenge of improving patient outcomes while simultaneously reducing associated costs. Therefore, decision-makers need solutions that address quality […]