We all know money talks, right? Well… it depends on who you’re asking. In the surgical devices market there are some other factors which shout even louder when it comes to attracting candidates to companies in the space.
What factors attract sales people to surgical device companies?
Out of the responses we got, there was a close battle for first and second place between the product portfolio a company offers (23%) and the brand (21%). Financial benefits (13%) comes in at third, proving that you still can’t underestimate the power of a good remuneration package.
Product portfolio – Naturally, sales representatives care about what they’re selling and want to represent the most technologically advanced, innovative product that they can. No one wants to sell an obsolete product!
Brand – This goes hand in hand with the product portfolio, as the latter can definitely strengthen how a brand is perceived. A well-marketed, strong brand can attract top talent and pitch your company above your competitors.
Remuneration – Money always talks when it comes to sales people. Luckily, a strong brand and technical product portfolio tend to lend themselves to high salaries so surgical sales people generally get the best of both worlds in this respect.
You’ve got the talent… now how do you keep them?
Whilst sales representative will move jobs to join a leading brand with an exciting portfolio of products, they will stay when this translates to good money and job progression.
Our findings indicate that the main reason talent leaves surgical device companies comes down to how valued they believe they are in the role. They’ll leave because they don’t think there’s adequate progression opportunities (30%), they aren’t happy with their remuneration package (24%) or they aren’t getting enough training and development (9%).
Sales people don’t want to feel like their roles are stagnating. If they are offered good progression and development opportunities, they will likely feel more valued by their company. Conversely, people that feel like they aren’t going anywhere will look elsewhere to achieve their development goals.
Want to know more?
Over the last few months FMC Meditech has mapped the market to understand the key salary and trends and employees’ motivations. We spoke with the top sales and talent individuals in the surgical devices market.
Are you paying your sales people enough? How do your salaries compare to the market average? Interested in hearing more about what moves people in the market? You can download the UK Surgical Devices Sales Talent Report 2018 here.