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Useful Advices - Hire The Best, Weed Out The Rest: Recruiting Top Sales Producers
Hiring top sales people is the key to accelerating your company’s sales. Sounds like a no-brainer, right? Yet even if you agree with this, we all know from experience that finding and attracting high performance sales talent is anything but easy. Ge
According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product
tting this right is a combination of both art and science, and requires a real commitment to excellence.
A recent survey showed that 53% of all sales recruiting efforts lead to mis-hires. That means if your company does an average job in sales recr
A recent survey showed that 53% of all sales recruiting efforts lead to mis-hires. That means if your company does an average job in sales recr
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
uiting, you have a 50/50 chance of making a mistake. And nowhere is it more costly than in sales. Given the learning curve and sales cycle for a new recruit, it can easily take 6-12 months before you realize the person you hired is incapable or unwi
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
lling to sell for your company. The costs can be staggering: tens of thousands in expense, hundreds of thousands (or millions) in lost sales and margin, and as much as 1-2 years of lost momentum and market share to your competition. With so much at
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
take for your company, are you willing to accept these outcomes?
Fear not. It is possible to avoid these costs, as long as you recognize the potential pitfalls and work proactively to eliminate them. Here’s a set of rules that will help you in your
Fear not. It is possible to avoid these costs, as long as you recognize the potential pitfalls and work proactively to eliminate them. Here’s a set of rules that will help you in your
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
quest for making top hires:
Know Your Requirements. Start by developing a clear job description that fully identifies the key skills and experience you’re looking for, the selling environment, the ideal candidate profile (hunter vs. farmer), sales
Know Your Requirements. Start by developing a clear job description that fully identifies the key skills and experience you’re looking for, the selling environment, the ideal candidate profile (hunter vs. farmer), sales
ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc
objectives and key performance metrics for the position. This sounds easy, but if you skip this step, chances are you’ll end up with nothing to match candidates against – and that’s the start of a recipe for disaster.
Understand The Skills & Trait
Understand The Skills & Trait
easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
s of Top Performers. Many managers hire sales reps that epitomize the stereotype of a top sales rep. They mistakenly believe that if a person can sell himself or herself through the interviewing process, that person must be good at sales. Dead wrong
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
Look for these key skills and traits:
- Traits Skills
- Motivation To Succeed Prospecting
- Ego-Drive Probing
- Empathy Listening
- Service-Orientation Persuasion
- Conscientiousness Negotiation
and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
Know Where To Look. Let’s face it. In this economy, placing an ad in the local paper or on job boards is not going to attract top sales talent. Why? Because the be
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
st sales people are already working, and probably not looking! If you want to find the best, you need to develop a highly targeted strategy. Start by finding out the names of top reps who are working for your competitors, and make a direct approach.
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
Continue by contacting everyone you know in your industry network (including your customers), to get referrals, since most great hires come through people you already know. If these efforts don’t yield results, target top reps in companies that are
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
selling complementary products to your customer base. Need help? A good headhunter knows exactly how to find the best people.
Sell the Job. If you want to attract the best, make sure to spend time developing and promoting your own company’s story.
Sell the Job. If you want to attract the best, make sure to spend time developing and promoting your own company’s story.
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
What’s your vision for the company? What’s your Unique Selling Proposition (USP)? What’s your strategy to win in your market? What sort of growth and advancement opportunities do you offer to top performers? What makes your company a great place to
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
work? Are you offering a job, or a real opportunity?
Develop a Rigorous Process, Then Stick To It. This is where companies often fall down: by going too fast and skipping critical steps. Hiring great sales people requires lots of time, commitment a
Develop a Rigorous Process, Then Stick To It. This is where companies often fall down: by going too fast and skipping critical steps. Hiring great sales people requires lots of time, commitment a
t?
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
nd energy. To do the job right, make sure your hiring process includes the following elements:
Build the right interview team, train the team on interviewing skills, assign different topics to team members, and make sure to debrief on each candidat
Build the right interview team, train the team on interviewing skills, assign different topics to team members, and make sure to debrief on each candidat
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
.
Use behavioral interviewing techniques, rather than asking closed-ended questions.
Collect detailed sales achievement history from all candidates, by asking for a breakdown of their annual quota and actual results for the previous 3-5 years. Top
Use behavioral interviewing techniques, rather than asking closed-ended questions.
Collect detailed sales achievement history from all candidates, by asking for a breakdown of their annual quota and actual results for the previous 3-5 years. Top
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
producers have this information – underperformers don’t.
Assign homework at each stage of the process, and watch closely to see how well candidates follow-up -- and follow instructions.
Validate your candidates sales skills, using an online sales
Assign homework at each stage of the process, and watch closely to see how well candidates follow-up -- and follow instructions.
Validate your candidates sales skills, using an online sales
.
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
profiling tool (we like the Express Screens at http://www.objectivemanagement.com)
Discard personal references, and insist on speaking to each candidate’s past 3-4 immediate sales supervisors. If they’re not listed, insist on talking to them anywa
Discard personal references, and insist on speaking to each candidate’s past 3-4 immediate sales supervisors. If they’re not listed, insist on talking to them anywa
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
y.
Hiring the right sales people is not easy, but no task is more important if you’re committed to achieving your company’s growth objectives. Unsure of how to get started, or too busy to do it yourself? We can help. Contact us for more information
Hiring the right sales people is not easy, but no task is more important if you’re committed to achieving your company’s growth objectives. Unsure of how to get started, or too busy to do it yourself? We can help. Contact us for more information
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
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