employee-loyalty
Culture & Retention Recruiting

Employee Loyalty Isn’t Dead Yet: Here’s How You Can Keep It Alive

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Loyalty is arguably the most important and valuable trait in medical sales. The benefits of a loyal sales team are reaped by the company, employees, and — most importantly — customers.

The good news is, employee loyalty in medical sales is improving. In fact, according to our 2018 Best Places to Work report, 61 percent of employees said it’s only somewhat to very unlikely they’ll leave their job in the next year. Additionally, when asked if they’re looking for a new job, 47 percent said they are not.

While these numbers are exciting and up from last year, there’s still work to be done.

It’s true, even the best places to work have a revolving door of employees. Unfortunately, there are some factors that are just out of your hands. But don’t count employee loyalty as dead just yet.

Here’s how you can breathe life back into employee loyalty at your medical sales company:

Start at the base

Money talks — especially in medical sales. It’s no surprise that the most dedicated sales reps on the road bring in the highest revenue. That’s what commission is all about, right?

It is, but base pay still has a major effect on employee loyalty.

A 2017 report from Glassdoor found a 10 percent increase in base pay raises the likelihood by 1.5 percent that the average employee will stay inside the company when moving to their next role. Showing employees you value the work they’re doing by boosting their base pay will give them even more motivation to stay and continue growing their accounts.

No matter how much you’re able to raise their pay, be sure to explain why they’re receiving the increase. Reps need to know you see them and value their efforts.

Know your culture

When you have highly talented and motivated reps, it’s easy to forget to check in on their well-being. Let them find their selling groove but don’t forget about the culture they’re immersed in every day.

Medical sales is a demanding career and employee loyalty rides heavily on your ability to create a sustainable environment for team members. In fact, in our previously mentioned report, 76 percent of respondents said the most important aspect of values and culture is work/life balance.

Knowing the current state of your culture is a good starting place. But don’t stop there. Be aware of fun cultural trends, then get to know your team personally to find what’s best for your company.

  • What are their values?
  • What stresses them out the most about their job?
  • How can you use their values to lessen these workplace stressors?
  • Does your team feel valued and connected?

Once you know more about your team, begin implementing practices and procedures that will increase their happiness and productivity.

Do it for the right reasons

Employee loyalty isn’t dead in medical sales, but if you focus on retaining employees for the wrong reason it will slowly wilt. Loyalty in this field isn’t about the pain of hiring and onboarding new employees or even revenue.

It’s about one simple factor: the customers.

Dedication to customers starts with offering a solid product line and continues with excellent customer service. Our report shows employees believe a strong product line is the most important quality in an employer. This means by putting customers’ needs first, employee loyalty will also receive a healthy dose of nourishment.

The best way to show you care about customers is by bringing reps in on the research and development stages. Allow them to offer customer feedback, share what they see in the field, and even their own personal recommendations. Even though you can’t take every suggestion, employees will feel valued and see the company is always attempting to improve their products.

Do you have any tips and tricks for keeping employees loyal? Share with us in the comments below!

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