3 out of 10 executives, worries about poor performance

COVID-19 crisis response survey for pharmaceutical companies

2 out of 3 "find down targets to seek crisis response"

40% of respondents said, "Stay away from traditional face-to-face sales."

The executives working at the pharmaceutical company pointed out the poor performance after COVID-19 outbreak.

 

Most people pointed out that the company should reduce its performance targets to minimize damage to COVID-19.

 

On the 21st anniversary of its founding, Dailypharm conducted a survey of “Post COVID-19 Crisis Response Strategy” by 725 executives from pharmaceutical companies.

 

Pharmaceutical executives responded to the question of what was the biggest inconvenience after the COVID-19 incident, with 228 respondents (31.4%) responding to poor performance due to face-to-face reduction.

 

As patients are reluctant to visit medical institutions after the COVID-19 crisis, there is growing concern over the decline in prescription drug sales in pharmaceutical companies.

 

In addition, pharmaceutical companies have expanded telecommuting since the spread of COVID-19, but concern about poor performance due to negligent account management has emerged as the biggest concern.

 

25% of respondents (181 people) pointed out anxiety about job cut.

 

This means that there are many executives who are concerned about the reduction of manpower due to the restructuring due to changes in the way they work, such as expanding non-face-to-face work.

 

Many respondents pointed out that the inefficiency of work due to telecommuting (17.9%), the strengthening of the company's surveillance and distrust of the boss (13.0%), and the deterioration of work and life balance (12.7%) due to the disappearance of the boundary between work and privacy were uncomfortable.

 

Regarding the cost reduction plan to minimize the damage to COVID-19, 65.1% (472 people) of the pharmaceutical executives answered that they adjusted their sales amount such as lowering their targets.

 

In COVID-19 crisis, it is the view that, in a situation where the economic recession is realizing, the crisis must be overcome by adjusting the company-wide goals.

 

8% (203) answered that they should cut costs by reducing operating expenses such as salary or marketing expenses.

 

Over 10% of respondents said that they should consider reducing manpower (13.8%) and reducing investment (11.2%).

 

Pharmaceutical executives agreed with COVID-19 to break away from traditional business methods.

 

Regarding the direction of reorganization of sales and marketing strategies in the post-corona era, 40.3% (292 employees) of pharmaceutical companies said that they should strengthen online sales and marketing.

 

As a result of the COVID-19 crisis, it is recognized that shrinking face-to-face sales and activating non-face-to-face sales are required, and strengthening IT-based face-to-face sales strategies is essential.

 

29.8% (216 people) said that it is necessary to find marketable products.

 

Pharmaceuticals executives recognized that post-corona era workforce restructuring is expected.

 

61.1% (443) responded to the question that asked about opinions on the decline in jobs in the pharmaceutical industry after the COVID-19 crisis.

 

In fact, 14.6% of executives predicted that the jobs in the pharmaceutical industry would drop significantly.

 

57% (413 people) said that the number of sales jobs would decrease the most.

 

Also, 28.7% of respondents predicted that jobs would be reduced in office work such as personnel and management, which is expected to shrink due to the activation of non-face-to-face work.

 

In the post-corona era, 40.1% of the respondents said that jobs in online IT-based jobs would increase.

 

Also, 22.6% of respondents pointed to the expansion of marketing jobs.

 

Pharmaceuticals executives also expressed negative views on the reorganization of the business method in the post-corona era.

 

When asked whether to reduce face-to-face operations after COVID-19, more than half, 54.5% (395) said they could do as before.

 

Although socially reluctant to face-to-face business, there are many conservative views that meeting with a doctor or pharmacist and conducting sales activities is more helpful for performance.

 

According to the survey, 38.8% of respondents said that face-to-face sales should be reduced.

 

About half of the executives (50.9%) predicted that the pharmaceutical industry would settle for telecommuting or flexible work.

 

In the post-corona era, the reorganization of the way of working is a demand of the times.

 

The employees of pharmaceutical companies expected that telecommuting or flexible work would increase work efficiency.

 

44.1% of respondents said that telecommuting or flexible work would improve work efficiency.

 

This data is the result of a survey conducted by Dailypharm on 725 executives of pharmaceutical companies.