Medical sales reps have a lot to take into consideration when they look for a new job. While the healthcare industry experienced a slight job loss in January, medical sales jobs continued to climb. Along with the race to produce the most innovative products, employers must strive to attract the best talent for their medical sales teams — and competition is fierce.
Some employers, however, have achieved the perfect balance of perks to attract top tier sales reps. According to a survey conducted by my employer MedReps.com, Medtronic is the best place to work in medical sales. Let’s take a look at a few of the top rated benefits of working at this medical device company:
1. Small Business Atmosphere
With the Rise of AI, What IP Disputes in Healthcare Are Likely to Emerge?
Munck Wilson Mandala Partner Greg Howison shared his perspective on some of the legal ramifications around AI, IP, connected devices and the data they generate, in response to emailed questions.
“Medtronic. It is a huge corporation but they treat you like you are family…you gets the perks of working for a big corporation with a small business feeling.” – Medtronic employee
Although Medtronic is an industry giant, the company takes care to foster a small business atmosphere. This is a crucial element for medical sales reps, as 48 percent of survey respondents prefer to work for small- to medium-sized companies. In a small business, employees are treated like family, like they are an important mechanism for driving the success of the company. When you establish this kind of atmosphere, you create a sense of purpose for members of the salesforce, motivating them to perform at the peak of their abilities.
Medtronic however, is actually a huge company with over 46,000 employees, and with that comes the opportunity for employee advancement. The company is committed to the professional growth of its salesforce, and has a habit of promoting from within. By espousing this practice, Medtronic employees know they don’t just have a job, they have a career.
2. Stellar Compensation
A Personalized Approach to Medication Nonadherence
At the Abarca Forward conference earlier this year, George Van Antwerp, managing director at Deloitte, discussed how social determinants of health and a personalized member experience can improve medication adherence and health outcomes.
“The benefits and compensation are excellent…” – Medtronic employee
Competition for the best talent is fierce in the medical sales industry, and those who offer the best compensation packages are going to have a significant advantage over their competitors. When employees are well-compensated for their time and hard work, motivation and job satisfaction increase. This is another area in which Medtronic shines.
By putting a value on sales reps’ time, you send a strong message. You tell them how much you are willing to invest in them. You also let them know they’re important to your business and you want to keep them on your team. Medtronic has come up with the right formula to both attract and retain talent.
3. Innovative Products
“Always tops in innovation, creation and customer service.” – Medtronic employee
Strong product lines are the most important consideration for medical sales reps, according to survey results. Innovative products espouse loyalty among clients, making reps’ lives much easier. More importantly, sales reps love to sell products they feel passionate about. When your sales team knows they are representing top-of-the-line products, they are galvanized in the field. This is certainly the feeling among Medtronic sales reps, and even potential employees.
As your clients reap the benefits of using strong, innovative products, sales reps professional relationships flourish. They enjoy playing a role in the advancement of the healthcare industry as a whole. This is a powerful benefit you can offer your salesforce to create dedication and loyalty among employees.
4. Work-Life Balance
“…work-life balance is second to none!” – Medtronic employee
Medical sales reps work hard. They love a challenge, and thrive in atmospheres in which hard work is well-rewarded. With great effort comes the necessity for balance, however, and survey respondents listed work-life balance as one of the most important aspects of any professional environment. Unsurprisingly, work-life balance is also one of the most popular benefits of working at Medtronic.
Ensure your high-octane employees do not work around the clock. If you allow this, you’ll face stress and burnout among your top talent. Medtronic’s dedication to ensuring the health of their salesforce has fostered loyalty and contentment among team members.
Medical sales reps have many options to choose from to advance their careers, so employers must offer creative perks to attract their attention. The most popular companies in the field understand the perfect combination of atmosphere, compensation, innovative products, and proper work-life balance is what matter most to their sales teams. Medtronic’s attention to these details has earned top-honors among sales reps. There is a lot to be learned from the actions Medtronic has taken to foster a strong salesforce, and by emulating their success, you can bring top tier talent to your ranks!
What do you think? What does your company do to attract the top talent in medical sales?
