Attrition in Pharma Industry Essay Example for Free

Attrition in Pharma Industry Essay Insights of attrition rate of Medical representatives in Pharma companies and innovative ways to improve them. Overview: Attrition refers to the reduction in staff and employees of company by normal means. The primary focus is to present the high attrition rate seen in the pharmaceutical market industry, its causes and controlling strategy for retention of Pharma sales representatives. Though attrition is a natural phenomena in all industries, Indian Pharma marketing industries is worst plagued by it. After IT and BPO, Pharma marketing industries experience the greatest rate of employee leaving the company for various reasons. While global Pharma marketing attrition rate is 10-12% per annum, the rate of employees who leave the organization in India is 25 -30 %. The attrition is more prevalent in the middle and junior management level, due to which majority of the companies have understood the criticality of talent management. Retention is always a big challenge for any organization in today’s time frame. Indian Pharma companies have started paying attention towards the retainment and management of the Medical Representatives to gain key and valuable employees back into the company. High attrition rate of MR happens due to following reasons: 1) External factors The demand of fresh talent is more. The companies are looking for fresh talent to incorporate new ideas but the supply is very less, career view point of many young people to join as MR is just to prevent the ‘Stop Gap’ in their career path. The demand-supply imbalance leads to significant efforts to retain and attract a skilled Medical Representative. This has led to higher salary hikes in the Pharma sector than most other sectors .This is clearly a challenge in an industry which is very knowledge and relationship driven. 2) Internal factors It has been observed that many MR leave their job during the first 3 months itself due to the reasons like they were not serious about their job, They were overqualified and lost interest in their job, They might even be under-qualified and felt bogged down by the challenges of the job, They lack motivation, feel less growth in career path, Monotonous work, limited  training and development opportunities, wor king environment as well salary and compensation becomes an important issue in some cases etc. Now to meet the global competitiveness; Pharma companies have transformed their survival strategy to competitive strategy as a result there is huge pressures on the shoulder of medical representatives for higher secondary sales achievement and thereby constantly poking the field force which eventually leads to attrition. So the people change organizations frequently. Similarly poor management is also one of the key factors responsible for leaving the organizations. There is a popular saying â€Å"employee leaves the boss not the organizations. â€Å" Poor management includes lack of support to the employee, lack of transparent career growth ladder, adverse relation between the boss and subordinates, lack of motivation. Psychological relationship between leaders and employee is very crucial for sticking of employee in a particular organization. Thus, Organization culture also plays a significant role in sticking of Pharma sales representative in the same company for long run. Retention of the talented employees is always the most important agenda for any company to grow. Sometimes monetary benefits can help as by recent survey it was shown that more and more medical representatives are moving in insurance, telecommunications etc as they are paid double in those sectors but only monetary benefits are not sufficient to retain them it ultimately becomes a hygiene factor in talent management. Thus looking for new methods for attracting, motivating and retaining them becomes very important. Being the first line manager few suggestions to reduce attrition rate: 1. Treat employees as you like to be treated:  Treating and handling the employee with appreciation and care is most necessary. While addressing or pointing out their problems they shouldn’t be criticized and rather should be explained in a courteous manner. The sales representative undergoes a lot of pressures and tensions regarding the achievement of targeted sales so, they should be motivated continuously and should be dealt in same manner as the first line manager or other seniors would like to be treated. Incentives like give free monthly travelling passes, movie tickets, etc. can be given. 2. Ask employees for their opinions and implement the good ideas: Having equal contribution from the entire sales force representatives can have an impact over representative’s mind that their ideas and thoughts are valued and are taken into consideration when need arises. Having certain schemes for bringing about certain new ideas to increase the sales level should be implemented, this shall bring about a flow of innovative ideas and also execution of those ideas will bring about a sense of dignity among employee. 3. Reward those that go above and beyond the call of duty: Certain incentives can be granted when a particular sales representative works excellently and achieves sales beyond the targeted levels. There could also be certain cases when an employee performs or outdoes something which wasn’t achieved by any employee in the company before, for that he should be acknowledged well and should be awarded like salesman of the year, highest target achiever, fastest target achiever, etc. and they should be felicitated in front of the whole company instead of felicitating through emails. 4. Take very good care of your star performers or someone else will: Taking good care of star performers is very essential. Their qualities maybe unique and selling strategies might be very effective. Interacting and making them comfortable about their job shall retain the employee in the company and chances of him leaving the company for another might reduce to some extent. If they are performing really well incentives like foreign trips, etc. can be given. 5. Communicate with your staff: Sales peoples sometimes feel that the company doesn’t care enough for them. So, the higher level executives can make a point to interact with them at a time and get a knowhow about what problems they are facing on the field and other certain issues. First line manager should always communicate through all the sessions with each employee and have discussion regarding all the sales meet and problems related to those the sales rep might’ve had. 6. Hold skip level meetings to make sure that you’re Managers/Directors  are treating their staff correctly: Skip level meetings by higher ups can bring about more peachy feeling in the employee they might feel the concern and guardianship from top executives. This shall further charge and motivate them for the tasks they perform. 7. Build career planning for each employee: If employee wants to pursue further education the company can help by providing him admission in collaborated institutions- tailor made courses as well as sponsoring its education thus meeting the need of the employee which motivates him as well as help the company in retaining him. 8. Bring about job rotation and more growth opportunities: Giving growth opportunities like promotion and assigning certain new functionalities in the job shall increase the overall knowledge about the sales rep and also he won’t feel monotonous about the work he’s been performing. This shall give in-depth knowledge about other functions in the company and shall thereby increase the understanding of the employee about working of the other sectors in company. 9. Making them feel like family member: The employees of the company should be treated as the assets and they must be treated like a family member. Salesperson job is mostly to work out of the company, in such cases wishing them on their birthdays, anniversaries, etc. can be done. Also, paying visit or giving condolences to the MR on death of his family member can make him feel concerned and a part of family. 10. Optimizing target policies: Instead of having fixed monthly targets, the sales targets could be designed individually by looking through their past month performances. Depending on that each month the targeted sales could be increased or optimized depending upon past months performance. This shall bring about an upscale in sales level too. Conclusion: Thus for retaining MR the first line manager should focus on each and every step right from the recruitment, to training and development, rewards and appraisals even fulfilling the needs of MR as all of these steps play a crucial role in motivating and keeping him attracted towards his job.

Invisible Race and Gender in Invisible Man, by Ralph Ellison Essay

In Invisible Man by Ralph Ellison, the unnamed narrator shows us through the use motifs and symbols how racism and sexism negatively affect the social class and individual identity of the oppressed people. Throughout the novel, the African American narrator tells us the story of his journey to find success in life which is sabotaged by the white-dominated society in which he lives in. Along his journey, we are also shown how the patriarchy oppresses all of the women in the novel through the narrator’s encounters with them. One of the major motifs in Invisible Man is blindness. The first time we’re shown blindness in the novel is at the battle royal. The blindfolds that all of the contestants wear symbolize how the black society is blind to the way white society is still belittling them, despite the abolishment of slavery. When he arrives at the battle, the narrator says â€Å"I was told that since I was to be there anyway I might as well take part in the battle royal to be fought by some of my schoolmates as part of the entertainment† (Ellison 17). Although, the white men asked him to come to the battle royal in order to deliver his graduation speech, they force him to participate in the battle royal, where the white men make young black men fight each other as a form of entertainment for them. When the black men put their blindfolds on to fight in this battle, they are blind, both figuratively and literally. They can't see the people they are fighting against, just as they can't see how the white men are exploiting them for their own pleasure. Shelly Jarenski claims â€Å"the Battle Royal establishes the relationship between white power, male power, and (hetero)sexual power, the â€Å"self-grounding presumptions† of dominant subjectivity† ... ... Jerilyn, and Ellen Silber. Women in Literature: Reading Through the Lens of a Gender. Westport, CT: Greenwood, 2003. Print. Butler, Robert. "Ralph Ellison: A Biography." African American Review 42.3/4 (2008): 759. Biography Reference Bank (H.W. Wilson). Web. 27 Nov. 2015. Jarenski, Shelly. "Invisibility Embraced: The Abject As A Site Of Agency In Ellison's "Invisible Man.." Melus 35.4 (2010): 85-109. Academic Search Premier. Web. 27 Nov. 2015. Johns, Gillian. "Jim Trueblood And His Critic-Readers: Ralph Ellison's Rhetoric Of Dramatic Irony And Tall Humor In The Mid-Century American Literary Public Sphere." Texas Studies In Literature & Language 49.3 (2007): 230. Biography Reference Bank (H.W. Wilson). Web. 27 Nov. 2015. Dickstein, Morris. "Ralph Ellison, Race, And American Culture." Raritan 18.4 (1999): 30. MasterFILE Premier. Web. 27 Nov. 2015.

Event Marketing

Let's look at some of the key advantages of the proprietary corporate event. †¢When creating a proprietary corporate event, the marketer has nearly complete control of the customer's experience with the company. You can shape the event to suit the needs of your audience — and meet your corporate sales and marketing objectives. †¢Corporate events are an excellent venue for relationship building with key customers, from end-users, to technical personnel, to purchasing officials, to senior executives.The relationship can be deepened on both sides: you get more focused selling time, and the customers provide you with more insights into their needs and business problems. †¢Corporate events are designed to allow higher level conversations than can be expected in the hustle and bustle of a trade show. †¢Customers and prospects can focus on your message, without distractions from competitors. Corporate events tend to be applied to current customer marketing, versus prospecting, for the simple reason of efficiency.For one thing, it's easier to persuade a person with whom you already have a business relationship to come to your corporate event. For another, the future value of a current customer or inquirer is much higher than that of the average unwashed prospect, which justifies the expense of creating and running a dedicated event. To get the most value from a corporate event, keep these principles in mind: †¢Consult with your target audience. In order to attract and influence them, you must first find out what works. Let their preferences and needs guide your planning. †¢Seek opportunities to defray your costs.You can ask your business partners to take sponsorships, or ask your clients to pay their own travel and hotel expenses. Some conferences even charge attendees a fee, which both qualifies their serious interest and supports the budget. †¢Corporate event management is complicated, and requires expertise and resources fro m multiple parties, inside and outside the company. So a focus on project management and team-building will enhance your likelihood of success. †¢Proprietary corporate events share many characteristics of trade shows, when it comes to marketing strategy, planning, and execution.The same rules apply about setting objectives, promotions, post-event follow up, and so forth. Treat the corporate event like a full-fledged marketing campaign, not a one-off. Event Types It's not easy to categorize events, since there is so much overlap in function and activity, but here are some of the more common types. Most of these are focused on current customers, but the last one, road shows, is designed for prospecting. User Groups The user group meeting has taken center stage in the information technology arena, but is also in wide use in other industries.Typically the company's objective with a user group is multi-fold: †¢Education about the current products in use at the account †¢Su rfacing problems and trouble shooting solutions †¢Identifying customer needs for additional products or features †¢Deepening the relationship with the customer Most companies find that the opportunity to network with other product users is one of the key benefits appreciated by attendees. Client Conferences User groups target the engineer or middle manager who actually uses the product in day-to-day business, with primarily an educational and troubleshooting objective.A client conference, on the other hand, is designed to engage a more senior managerial level, addresses more strategic issues and is often, in some respects, more sales oriented. The typical client conference pursues the following objectives: †¢Deepen the customer relationship †¢Communicate company vision, culture, and strategies †¢Cross-sell and upsell †¢Encourage networking among peers A client conference may have any of the following components: †¢Keynotes and breakout sessions â⠂¬ ¢Exhibit hall †¢Meetings with sales reps and senior executives †¢Sports event, such as a golf outing A client appreciation dinner †¢Entertainment Single-Customer Events Events focusing on a single customer can be a useful element of the corporate event marketing mix. Limited to top customers, these events can be as simple as an expanded client meeting, where the business carries on into ancillary activities like dinners or outings. Or they can be workshops, or facilitated sessions — whatever meets the sales and marketing objective. One common type of single-customer event is also known as a â€Å"vendor day,† when a large company arranges for suppliers to come in and show their wares. Educational SeminarsAn educational seminar can be an appealing way to deliver product information within a larger business context — which adds credibility and also increases access to hard-to-reach customers. Most common are daylong or half-day seminar programs t aught by a credible third party on a subject of strong business interest to your customers. If you include speakers from your own company, it's important to keep the tone of the presentation more about solving problems or sharing ideas, and less a blatant sales pitch. One of the secrets to success in seminar marketing is balancing good content with amenities.Consider this wisdom from Mark Amtower, a specialist in marketing to government buyers. Amtower conducts seminars all over the country for clients and prospects as part of his sales outreach. â€Å"The seminar content is important,† says Amtower. â€Å"But the food is how they'll judge the seminar overall. I have learned to provide great food, and plenty of it, and I get rave reviews — and new business — from my seminars. † Executive Seminars Executive seminars are intended to bring senior-level customers together for education, peer interaction, and face time with senior company representatives.Usual ly kept fairly small, repeated at regular intervals, and held in desirable locations, these events combine customer appreciation with sales opportunity. The primary hook to attract attendees is content, topics of strategic interest to senior managers. The events thus serve to position the hosting company as a partner as opposed to a vendor, a trusted resource who can be relied upon to help solve pressing business problems. Attendees appreciate the chance to learn about solutions and to network with their peers from other companies. Entertainment EventsEvents designed around social outings, or around food and drink, are most successful when linked to a specific sales objective. The attendees need to be carefully selected and qualified, since you don't want to be investing in entertaining the universe. Most companies find that entertainment events only work when they are driven by the sales team, and marketing assists in logistics and strategy. Road Shows Road shows consist of a multi -city series of meetings designed to deliver richer product information than is possible through mail or phone, but to be more efficient than solo sales calls.The road show takes the event to the market — sparing customers and prospects the need to travel. Typically, the marketer bears all the expense, and no fee is charged to attendees. The road show venue is usually a hotel meeting room, with a half-day session that includes breakfast or lunch. Because the cost per contact is fairly high, ranging from $25 to $100 or more, road shows are typically reserved for clients or prospects who are fairly far along the buying cycle. Most road shows target a customer based within driving distance from the venue.

International Students Pursuing A Higher Education Essay

Introduction: The semester long research project that I have chosen deals with international students pursuing a higher education in the United States. According to the IIE, International Institute of Education, the majority of international students come from asian countries and have been populating the US through a variety of study fields leading to eventual, desirous opportunity to continue living in the US. The issue revolving around this topic that goes unnoticed includes: social stigma, racial discrimination, mistreatment beyond societal behavior into financial and other difficulties such as job opportunities due to immigration policies. The United States has also developed a new form of racism that has plagued the nation and goes unnoticed: the concept of neo-racism, or new racism (eric.ed.gov). This attack on people of specific national origins has become a new approach to discrimination against racial groups of people in the United States to top off abuse of international st udents in the economy, as Dr. Ip of Auckland University said in an interview, they are merely â€Å"cash-cows† suggesting their apparent role in American society. Research has been done on the concepts of neo-racism and there are statistics available that prove that there are financial contributions international students make that benefit the United States. The topic of international students and higher education coupled with economic discrepancies, elicits a topic that is significant to AmericanShow MoreRelatedHigher Education: Pursuit of Degrees1654 Words   |  7 PagesHigher Education: The Pursuit for Degrees Pursuing a degree is more valuable than not. My employer without warning decided to end pay raises and step increases for its employees. 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