NEWS

Performance Development Group Unveils Important New Insights in their 2024 State of Coaching Report Focused on the Life Sciences Sector

PHILADELPHIA, PA, FEBRUARY 2024 – Performance Development Group (PDG), a leading sales performance consultancy for the life sciences sector, announces the release of its 2024 State of Coaching Report that reveals the priorities, disparities, and perceived gaps affecting life sciences sales performance.

In late 2023, PDG conducted an extensive study of nearly 350 sales leaders and sales representatives from over 200 companies to discover the quantity and quality of sales coaching in the challenging and dynamic life sciences sector. The research not only sheds light on the current state of sales coaching in the industry but also provides actionable insights for organizations seeking to enhance their coaching strategies.

Key findings include:

• Coaching/Performance Correlation: A compelling correlation between coaching and top sales performers solidifies coaching’s pivotal role in achieving high sales performance.
• Perception Gap: What sales leaders believe they provide for coaching and what sales representatives perceive indicates a blurring of lines between training and coaching.
• Coaching Receptiveness Across Age Groups: An unexpected finding reveals that sales representatives over age 42 receive more coaching and respond more positively, prompting considerations about generational differences in coaching approaches.

“Our study reveals some stark disparities in sales coaching, emphasizing the urgent need for realignment,” said David Manning, Founder and Managing Partner at PDG. “The insights also underscore coaching’s critical role in performance and retention, reinforcing PDG’s commitment to empowering life sciences sales teams’ performance for sustained success.”

Read the report summary article and download the full report.