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
