Your company’s long-term strategic advantage relies on strong leadership to align people, execute strategy, clearly define the culture, and engage all employees. But as Baby Boomer leaders rapidly retire, most of their collective leadership experience — often 30 to 40 years’ worth — is out the door.
When we think about achieving lasting behavior change in pharmaceutical sales organizations, we tend to mean change in the behavior of the consumers.
For example, how can we get consumers to develop sustainable habits around taking medication? How do we make interacting with web portals easier and more user-friendly
What many companies have not yet realized is that there is a different group that warrants the same kind of purposeful attention around behavior change – your pharmaceutical sales team.
While some pharma sales organizations are already taking advantage of behavioral levers today, there is still plenty of opportunity for growth in leveraging behavioral science to drive pharmaceutical sales team performance.
Pharma organizations can take a cue from other industries, which have realized the power of the behavioral science for their own sales forces.
Have you heard about Adobe’s Kickbox? It’s a little red box filled with materials that take employees through a six-step, self-guided innovation process. Employees who have a new idea they want to pursue take a workshop and then proceed through the stages of innovation on their own. Each box contains a credit card with $1000 in seed money.
We’re all too familiar with the shift in buzzwords and industry jargon over time. Words such as “customer-centric” “big data,” and “innovative” are sure to grab our attention today, whereas “paradigm shift,” “synergy,” and “bandwidth” were hot terms in the past.
Companies pay millions each year to researchers and consultants to help them understand employees in various generational cohorts. Yet some observers have begun to ask whether companies are going too far, and whether generational divisions are overblown, if they exist at all (see New York Times article Oh, to Be Young, Millennial, and So Wanted by Marketers)
Do you regularly seek out information from people across your organization? Do you maintain a cabinet of trusted advisors—confidents who are willing tell you not only the good but also the difficult truth when appropriate? Do you look closely at behaviors of your own that may prevent others from speaking openly with you?
Joining an organization from outside and inheriting an intact senior team, possibly containing members who had been passed over for the CEO job, brings obvious challenges. CEOs in our study who had lived through this situation reported that it was important to build their own credibility with the team while also assessing the strengths and weaknesses of their new colleagues. “One thing I knew I had to do quickly,” one CEO told us, “and I felt prepared to do, was to build trust and confidence in me. I had to do this with my management team, and I had to do it with the other stakeholders, including the Board and with our customers.”
Research by Accenture has found that almost all CEOs peg their organization’s long-term success on innovation. Yet fewer than a fifth see a payoff to the very substantial investments they’ve made [See the Accenture article here].
If you’ve ever watched one of television’s popular singing competitions, you no doubt have marveled at the number of obviously untalented individuals who go on stage anyway, thinking they can sing. Didn’t anyone bother to tell them they have a tendency to veer off-key?