More than ever before, candidates are looking for medical sales jobs with companies that offer solid benefits packages. In fact, according to the 2017 MedReps Medical Sales Salary Report, benefits are the main selling point.
While salary pays the bills, if benefits do not defray additional costs that come out of medical sales reps’ paychecks or provide support in areas of wellness, well-being, and security, employee engagement rapidly declines.
The bottom line is, benefits contribute to medical sales satisfaction and success and this leads to loyalty and retention. As a medical sales recruiter, you can use benefits to attract quality candidates for your clients. Here’s how:
1) Know the benefits medical sales reps want
Of the 2,854 employed medical sales reps surveyed in the 2017 MedReps Medical Sales Salary Report, 87 percent said health benefits are a driving factor in considering a new position. Other benefits important to these professionals include:
- 401(k) with employer matching (80 percent)
- expense account (74 percent)
- company car (42 percent), car allowance (47 percent), gas card (48 percent)
- stock options (39 percent)
- profit sharing (13 percent)
While you’re selling the jobs you’re trying to place based on this benefits preference data, it’s also important to know when employer benefits kick in. For instance, jobs that offer benefits starting at 30 days are more attractive to job seekers than those where they’d have to wait 90 days or more before being eligible.
There may be times that alternative compensation and health benefits will not be the highest priority for top talent. They could be willing to wait for certain benefits to kick in if they are able to get behind a company that offers optimal work/life balance or products they are passionate about.
In fact, according to our 2017 Med Rep Job Satisfaction Report, 50 percent of medical sales reps consider a solid product line the most important aspect of a medical sales company they work for.
2) Understand the employee view of benefits
Rather than added perks, job seekers view benefits as a given. Their desire for financial compensation and a rewarding career also includes assistance for their families and particular flexible conveniences.
Workers are increasingly expecting employers to play a role in their physical, financial, and emotional wellbeing.
This fact was demonstrated in the 2017 MetLife Benefit Trends study. Of the 2,652 full-time workers surveyed in, 73 percent said employers have a responsibility to ensure employee wellbeing.
As a medical sales recruiter, this is an opportunity to show how your clients understand employee needs and are willing to provide benefits that promote a higher standard of life for medical sales reps and their families.
3) Use benefits to counter-position drawbacks
Every job has its downsides. However, solid benefits can often help alleviate candidate concerns.
For instance, most applicants are aware of the stress and long hours that go along with medical sales. However, as evidenced by our 2017 MedReps Medical Sales Salary Report, there is great potential for success.
Those who don’t travel earn $83,799, the lowest average base salary. While their average total compensation is a generous $129,876, it is far less than those who travel 10 percent of the time. They earn $142,717, and those who travel 50 percent of the time make $169,669.
The more you travel, the more earning potential you have. Most industries do not offer this ability to self-drive total earnings and success in such a rewarding career. In addition, not every job has the perks afforded by medical sales, including:
- work flexibility
- job security
- making a positive impact on people’s lives
When candidates seek success and wellbeing for themselves and their families, use position benefits to demonstrate how accepting medical sales jobs accomplishes these goals.
How do you use benefits to attract and place qualified candidates? Let us know in the comments!