RECRUITMENT, MOTIVATION, AND

RETENTION OF EFFICACIOUS

ACCOUNT MANAGEMENT

EXECUTIVES

BYRON I WIGODNER

SENIOR DIRECTOR NATIONAL ACCOUNTS

KADMON PHARMACEUTICALS

MARCH 7 2015

DISCLOSURE

This Presentation represents my personal opinions and does

not represent the opinions of my employer Kadmon

Pharmaceuticals

Google Attributes – Great Sales People

• Driven – sense of urgency

• Self Confidence

• Assertive

• Sense of humor

• Focused

• Knowledge

• Market trends

• Product knowledge

• Industry knowledge

• Enthusiasm

• Attention to detail

• Closing

ATTRIBUTES OF GREAT

SALES PROFESSIONALS

Problem Solver

Optimistic

“Great Communicator”

Integrity/credibility/honesty/empathy

Polished (ability to relate to customer)

• Likeability factor

• “Fit the Territory”

Ability to work independent

Competitiveness

Change – ability to accept, assist change

Leadership

TRANSITION FROM SALES –

ACCOUNT MANAGEMENT

Sales Professional

Manager

National Accounts Manager/Director

Regional Accounts Manager

ACCOUNT MANAGEMENT

NOMENCLATURE

Account Management/Director Titles – Responsibilities vary

• National

• Strategic

• Corporate

• Key

• Regional

• Institutional

Differentiating Factors

• Size of Company

• Organizational Design

• Level of Responsibilities

• Product Lines/Business Segments (Office/Hospital/Specialty/Trade Distribution)

• # of Accounts

• Type of Accounts (National, Regional , Local etc.)

NATIONAL ACCOUNTS

– KEY TRAITS

Financial Savvy

Negotiation Skills

Leadership Skills

Decision-Making Ability & Account Planning

Team player

Sense of Humility

Ability to work in a matrix environment

Integrity/credibility

Networking/Relationship Building

Communication Skills

Knowledge; Product, Market, Industry

FINANCIAL/LEGAL

SAVVY

“Show me the money”

Cuba Gooding, Tom Cruise “Jerry Maguire”

NEGOTIATION SKILLS

“I’ll make him an offer he

can’t refuse” Michael Corleone (Al Pacino) “The Godfather”

LEADERSHIP SKILLS

“ Over? Did you say "over"? Nothing is over until we decide

it is! Was it over when the Germans bombed Pearl Harbor?

Hell no! “

“And it ain't over now. 'Cause when the goin' gets

tough............the tough get goin'! ……Who's with me?

…………..Let's go! “

Bluto AKA Jim Belushi; “Animal House” 1978

DECISION-MAKING &

ACCOUNT PLANNING

“ I know what you’re thinking, did he fire six

shots or only five? Well to tell you the truth in all

this excitement I kind of lost track myself, but

being as this is a 44 Magnum the most powerful

handgun in the world and would blow your head

clean off, you have to ask yourself a

question…..Do I feel lucky? Well do ya punk?” Clint Eastwood, Harry Callahan “Dirty Harry”

TEAM PLAYER

“The way a team plays as a whole determine its success. You may have the greatest bunch of individual stars in the world, but if they don’t play together, the club won’t be worth a dime”

Babe Ruth

SENSE OF HUMILITY

“Today I consider myself the

luckiest man on the face of

the Earth” Gary Cooper as Lou Gehrig “The Pride of the Yankees”

ABILITY TO WORK IN A

MATRIX ENVIRONMENT

“The Secret of Success lies not in doing your own work, but

in recognizing the best person to do it”

Andrew Carnegie

ACCOUNT MANAGEMENT

– MATRIX ENVIRONMENT

Account

Management Legal/Finance Marketing/Medical

Sales/Sales Management

Senior Leadership Team, Business Development

Research & Development, Clinical

INTEGRITY/CREDIBILITY

“I’m dishonest, and a dishonest man you can always trust to

be dishonest…Honestly it the honest ones you want to watch

out for, because you can never predict when they’re going to

do something incredibly stupid”

Captain Jack Sparrow (“Pirates of The Caribbean”)

NETWORKING-BUILDING

RELATIONSHIPS

“It's not what you know

but who you know that

makes the difference.”

• Anonymous

COMMUNICATION SKILLS

“What we got here is a

failure to communicate”

Captain, “Cool Hand Luke” 1967

KNOWLEDGE- PRODUCT,

MARKET, INDUSTRY

“Real knowledge is to know the extent of one's ignorance.”

• Confucius

“When you know a thing, to hold that you know it, and when you do not know a thing, to allow that you do not know it - this is knowledge.”

• Confucius

RECRUITING – ACCOUNT

MANAGEMENT

Complete & Accurate Job Description

• Interviews by various internal departments

• Account Team

• Sales Management

• Marketing

Internal vs. External Candidates

• Trending; Large Pharma/Biotech promotion from within Internal

Candidates

• Development of mentor programs

• Associate AM positions

• Increasing responsibilities to develop internal candidates

• In-house Training Programs

• Industry Programs extended to potential candidates

RECRUITING – ACCOUNT

MANAGEMENT

• External Candidates – Large Pharma/Biotech

• Networking Account/Customer recommendations

• Industry Meetings Network

• Network Current AM Team recommendations/referrals

• Executive Headhunters specializing in AM

• LinkedIn, Medzilla etc. type sites

• Trending; Small/Mid Pharma/Biotech external hiring

• Networking Key Customers

• Industry Conferences

• Networking Current Management Team

• Executive Headhunters

• LinkedIn, Medzilla etc. type sites

TRAINING

Internal vs. external Hire

• Hiring – External VS Promoting- Internal

• Very Specific to Company & Individual Needs (New Hire)

• Product Training

• Therapeutic Market Segment Training

• Attendance & Participation at Industry Sponsored Conferences (Ongoing)

• AMCP, PCMA, ASHP, etc.

• Negotiation Skills Workshops

• Financial Skills Workshops

• Bring in Outside Vendors or Internal Training Department

• Internal Training with CFO/Finance/ Legal

MOTIVATION - RETENTION

Account Management Individual Concerns

• Employment

• Career Growth

• Compensation

• Company Future – Pipeline, Future Product Acquisitions, Mergers, Acquisitions

• Corporate Culture

Key to Retention – Keeping Account Team Motivated

Countless Management Models dealing with Motivation

• Maslow’s Hierarchy of Human Needs • Satisfied needs do not motivate

• Only as unsatisfied need can influence behavior

• By understanding AM comments , attitude, quality & quantity of work one can identify those needs AM seeking to satisfy.

• Build into their work environment opportunities to satisfy their needs

MOTIVATION - RETENTION

Herzberg’s Two-Factor Theory (Hygiene Motivator Theory)

• Hygiene Factors (extrinsic to job) in environment do not motivate

only prevent dissatisfaction

• Salary

• Job Security

• Status (Job Titles, rank etc.)

• Company Policies

• Motivation Factors (intrinsic to job) increase job satisfaction

• Achievement

• Recognition

• Responsibility (Expanding role, delegating to)

• Advancement

• Work itself (challenge of the assignment, creativity in solving)

• Potential of Growth (increasing knowledge, personal

development)

MANAGING FOR RETENTION

Managing/Treating Account Managers

as Individuals

Providing Support

Empowering Account Managers – Job Enrichment

Management – Plunkett, Attner, Allen 9th Edition 2008 adapted from

MANAGING FOR RETENTION

• Competitive Overall Compensation Plan developed to reward achievement – AM Team should have input and assist development

• Fair

• Balanced to ensure priorities achieved

• Benefit Plan

• Healthcare benefits

• 401 K Plan

• Vacation/Holidays

Providing an Effective Reward

System

• Encourage Account Managers flexibility & authority in the pursuit & development of new ideas -

• Intrapreneurs – Account Managers who think and act like owners

Advocate Intrapreneurship

Management – Plunkett, Attner, Allen 9th Edition 2008 adapted from

QUESTIONS

DISCUSSION