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Library Services Benchmarks 2016: Corporate Library Services in the Pharmaceutical Industry

Best Practices, LLC Strategic Benchmarking Research & Analysis

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Table Of Contents

Executive Summary pgs. 3-4

Research Overview pg. 3

Participating Companies pg. 4

Key Findings pgs. 5-8

Library Profile pgs. 9-15

Library Services pgs. 16-23

Human Resources pgs. 24-28

Financial Resources pgs. 29-35

Library Innovation pgs. 36-39

Service Strategies pgs. 40-43

About Best Practices, LLC pgs. 44-45

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Library Service Benchmark Research: Objectives & Topics

Best Practices, LLC conducted this benchmarking to develop 2016 benchmarks for selected services and

resources provided by libraries and information centers within the biopharmaceutical industry.

Topics Covered

Research

Methodology

Research

Overview

Use of vendors in services delivery

Financial resources

Cost recovery practices

Distribution of FTE hours by service

category

Penetration of potential user base

Library innovation & service

strategies

Best Practices, LLC engaged 17 leaders

from 16 top biopharmaceutical companies

through a benchmarking survey.

This study was designed to help library and

information center leaders compare scope,

volume, cost, and delivery of library services

at their companies with those at other

organizations within the biopharmaceutical

industry.

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Universe Of Learning: 16 Companies Participated in Research

Sixteen companies participated in this benchmarking study. More than 80% of the companies

represented pharmaceutical industry. More than half of the participants are at director level.

Benchmark Class:

Key Findings

Few of the key findings and insights that emerged from this study:

Average Cost: Benchmarked libraries spent an average of $8.7 million to provide services and resources during the most recently completed fiscal year.

People Allocation: Participants allocate the most FTE hours (average 23%) to electronic resource

management, followed by reference and research at 20% and analytical & value added services at 19% respectively. Print-related services took only 3% of hours for benchmark participants. Several libraries indicated they no longer manage any print resources.

Renewal Agreement Negotiations: Majority of libraries expect less than 5% increase annually while

renewing agreements with vendors. While negotiating renewals with vendors half of them expect a discount on annual fees. The contract renewal discussion begins 1-3 months prior to subscription date at 47% of companies.

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N=16

Participants Job Title

This research features insights from a range of leaders handling library services. More than half of

respondents serve as a director, while around 39% of participants are managers or head of library

services.

Universe Of Learning: Insights Drawn From Host Of Pharma Experts

% respondents

Q1) Please provide the following contact information so that we may send you the survey results.

Director, 56%

Senior Manager, 13%

Manager, 13%

Head, 13%

Others, 5% *

*Others: Principal Knowledge Scientist

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Labor Distribution

On average, 23% and 20% of all library staff hours were allocated to electronic resource management and

reference & research services among participating libraries and information centers. Value added

services took another 19% of staff time, and print collections—the smallest category—used only 3%.

FTE Hours Allocated by Process

Q 15 ) What percentage of total library FTE hours did each of the following labor categories require? (Note: processes &

services included in each category are included in the Services Checklist question on the previous page.)

Reference & Research , 20%

Analytical & Value-Add Services, 19%

Print/ Physical Collections, 3% Electronic

Resources Management, 23%

Website Development &

Management, 10%

Knowledge Management and

Internal Documents, 5%

User Outreach/Marketing

activities, 15%

All Other , 5%

% respondents

N=15

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N=13

Total Library Organization Cost

Participating libraries spent an average of $8.7 million to provide services and resources during the most

recently completed fiscal year. Costs ranged from $1 million to $25 million across the benchmark class.

Total Library Organization Cost

$14,000,000

$8,718,846

$6,000,000

$2,700,000

$-

$2,000,000

$4,000,000

$6,000,000

$8,000,000

$10,000,000

$12,000,000

$14,000,000

$16,000,000

75th Percentile Mean Median 25th Percentile

Q 21 ) What was the total cost of providing library services and resources in your most recently completed fiscal year?

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N=15

Strategy-Managing Contract Expenses

At two-thirds of companies average expected rate of increase each year is below 5%.

Rate of Increase for Agreement Renewals with Vendors

% respondents

Q 23 ) When negotiating renewal agreements with vendors, what is the average expected rate increase on an annual basis?

Under 5%, 67%

Between 5-10 %, 20%

Other , 13%

*Others: Between 3-5%, Discounts from

previous year where possible

*

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Best Practices®, LLC is an internationally recognized thought leader in the field of best practice

benchmarking®. We are a research, consulting, benchmark database, publishing and advisory firm that

conducts work based on the simple yet profound principle that organizations can chart a course to superior

economic performance by leveraging the best business practices, operating tactics and winning strategies of

world-class companies.

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Chapel Hill, NC 27517

(Phone): 919-403-0251

www.best-in-class.com

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