Archives for: March 2015

Is Your Pharma Sales Force Letting You Down?

Sales Force Letting You Down

In the year 2013, pharmaceutical companies across North America and Europe laid off a large chunk of their sales force due to inflation. Layoffs across industries were rampant and plummeting revenues made it impossible for Pharma Organizations to sustain their entire sales force. In short, the Pharma Industry – suffered. Fast forward to 2015 and Pharma companies still suffer – this time at the hands of their own sales force. It’s true – when a sales force does not perform to its optimum best or fails to reach sales targets the team/individual lets the organization down. The reason is lack of efficient and cost-effective training.

The problem exists at the very base – at the first rung of the ladder. The Pharma industry suffers desperately from a shortage of skills, skilled labor and processing capabilities. There is a lacuna and an ever growing shortfall between output from universities and demand by the pharmaceutical and health care industries for science and engineering graduates who have the ability to rapidly contribute to success in the Pharmaceutical business environment. In the light of this disparity, it is essential for organizations to hand-hold their employees and provide them with proper training before they send them out into the word with a product to sell. For all the time wasted and hoards of money spent on hiring trainers to train their globally-dispersed sales force, the result is inconsistent training across geographies. The ever-changing landscape of the pharmaceutical industry does not make things easier. Indefinite job roles merge into one another and demand that the Pharma sales force is not only adept at sales but doubles up as an excellent marketing force as well. It’s no wonder that companies are let down by their sales force.

The need of the hour is successful training that will help build leadership skills needed to navigate the complex and changing landscape of the industry. Besides being a time-saving, cost effective solution for the Pharmaceutical Industry, eLearning provides consistency of content and delivery. It is available 24/7 and can be accessed from any location with suitable inter-/intra-net access. Given the mobile nature of the pharmaceutical sales force, classroom training is impossible; however, eLearning allows the Pharma sales rep to complete training programs at his own pace and in his own time. Online courses make use of interesting elements such as graphics, videos and audio along with text and make online learning learner-friendly and retention-friendly for the otherwise easily bored adult Pharma sales force learner. The changing needs of the customer requires the Pharma sales force training to focus on selling skills and strategies that must be updated at the speed of need to match the current needs of today’s customer – this again is made possible with online learning that allows speedy delivery of updated information.

The world is making the shift to online learning. Most of the Pharma giants are using some form of online learning to train their forces already, and those who have made the move are witness to the results. If your Pharma sales force is letting you down, our advice to you is to make the move to elearning now.

In the year 2013, pharmaceutical companies across North America and Europe laid off a large chunk of their sales force d...

Read More »

eLearning for the Banking Sector

eLearning for the Banking Sector

The banking industry is increasingly growing in importance in view of the current business scenario. As a vertical market, where adoption of innovative technology is central to its growth, up skilling of employees in this sector is of utmost importance. A ‘Single Customer Relationship View’ is the key to success for BFSI companies as this enables them to ‘cross-sell’ and ‘up-sell’ their offerings. E-learning can be an effective way to bring the diverse set of people onto a common platform.The primary agenda of banks is to serve customers better. Product information needs to be taught to the sales personnel. This process can be made simple through e-learning.

Reasons necessary for e-learning to be adopted in the banking sector.

  • For tracking compliance, banks use e-learning and learning management system software that support e-training
  • eLearning enables you to easily adapt the content and transfer to the learner, which could be done at any time and from anywhere. This is the main benefit of using this method in the banking sector
  • During active production, the learning approach is a very important factor to be considered. Training should be given in terms of daily basis, so that learners develop their skills to the professional extent. In order to achieve the required objectives, we use e-learning to train employees
  • Those employed with the banking sector can improve their administrative qualities. Online learning can effectively be used to improve their communication skills and interact with clients effectively. They are provided with ample scope to apply the concepts they have gained on a daily basis

It is imperative that banks focus on maintaining and developing their portfolio of customers. Important factors that influence the company’s strength and position in the market are the quality of client service and the variety and adaptability of the products to the customers’ needs. Human resources play a pivotal role in ensuring excellent service and customer satisfaction. It can be accepted that a robust e-learning strategy has a major impact on the organizational performance. ELearning is able to successfully address critical challenges in human-capital development: rapid induction of new employees, quick launch of new products, regular andconsistent testing of employees and a need for courses that are readily accessible for any employee regardless of the location.

The banking industry is increasingly growing in importance in view of the current business scenario. As a vertical marke...

Read More »