Pharmaceutical sales can be a tough field to get into, but once a rep has gained some experience and become a top performer, he can be equally tough to hang onto. While some turnover is a fact of life, it should not be taken lightly. Excess turnover can damage your reputation, increase hiring costs and drive down your sales numbers.

Top pharma reps will be wary of a company that appears from the outside to be a revolving door of sales talent. Healthcare professionals will grow weary of constantly “breaking in” new people. Replacement reps will have to work harder to regain their trust, resulting in lost or sluggish sales.

With the right strategies this can all be avoided.

Benchmark Your Compensation

One of the reasons most cited by pharmaceutical sales representatives who choose to leave their company is that they found a more attractive compensation package elsewhere. Sales people are highly motivated by money, not just as a means to gain wealth, but also as a method of keeping score. Make sure that your base salary, bonus and perks compare favorably with your competitors if you expect to hang onto top performers.

Support Your Team

Pharmaceutical sales representatives are more satisfied with their jobs when they get the support they need to perform at their peak. Work closely with your team to give them the positive (and sometimes negative) feedback they need to excel. Make it simple for them to get the materials and training they require and make yourself available to troubleshoot any issues so they can focus on closing sales.

Improve Your Hiring Process

Hiring for retention requires a strategic approach. You must find career-minded individuals who are or have the potential to become top performers and provide them with the tools they need to succeed and advance within your organization. By partnering with a recruiting professional who specializes in pharmaceutical sales, you can improve your productivity, build a team of top sales professionals and boost your revenue.

At SMR Group Ltd, our experienced staffing partners help you identify, attract, and retain top talent. Contact us today for a consultation.