Medical diagnostics – the challenge of fishing from the same sales pond
The medical diagnostics market is ruled by the ‘Big Four’ (see my last post about who these are here) meaning that for these key players it is easy to end up fishing from the same sales talent pond as direct competitors.
This makes for an interesting challenge for those looking to hire in the market.
The challenge of fishing from the same pond
As a key player in the medical diagnostics space, the last thing you want is for your top sales talent to move to one of your competitors. They are likely to be selling similar products to the same market, in direct competition. It’s easy to see the issue with this.
What you want is for your sales talent to have loyalty to your brand and products.
So how can you ensure you have this?
A strong, appealing brand image can help to win talent over and give a company their much needed edge in a competitive market, such as this. Having a distinctive brand makes you stand out as an employer and emphasises the kind of employment experience you offer.
A poor employer brand can also make you stand out, but for all the wrong reasons. A LinkedIn study found that no amount of money could tempt over half of UK workers to move to a company with a poor employer brand.
Great employer branding acts as an advertising and retainment tool in itself.
All of the Big Four in medical diagnostics have strong, consistent brand images – this could go a way in explaining why so many people want to work for them.
Offering development programs
Employees want to work upwards and appreciate when their employers have a genuine interest in their future. Knowing that an employer is willing to provide development and training makes and employee feel valued. This in turn builds their loyalty, exactly what you want in a competitive market!
Providing these programs stops your sales talent from feeling like they need to look towards your competitors for development. The Big Four all seem to have got this right, their investment in employees is often cited as a positive on their respective Glassdoor pages.
Fishing from aligned skill sets
You want the top sales talent for your medical diagnostics technology. In such a competitive market it can be difficult to recruit such talent.
Looking to a slightly different market to the one you operate in can be beneficial. An excellent sales person in wound care, surgical devices, or other medical markets may be the next big thing in medical diagnostics sales if given the chance.
Whether you’re looking to recruit top sales talent, or you think you could be the next top sales talent, we’ve got some information for you.
If you are interested in what you could earn in sales across the medical devices market, download our report here.
If you’re an employer wondering what motivates sales employees to move to competitors, download our report here.