Guess the new kids on the block need to look themselves in the mirror and ask, “Are we the right talent to take this company to the next level?” Perhaps Steve should bring back the old guard to save this division. Except... they are all in a much better place. RIP Surgical.
Obviously the street is noticing. One analyst downgraded the stock rating based on two factors: 1) surgical is facing steeper competition, especially if Cerene by Channelmed gets approved this year 2) the CynoSure acquisition, which was added to the portfolio to enhance growth projection, has failed to due so and isn't showing signs that it will because the analyst thinks that the sculpsure market is saturated and the vaginal rejuvenation market is facing more and more scrutiny from the US FDA. Surgical is facing more headwinds than ever right now, and they are doing it with half the sales force (and almost 100% of management) being brand new and inexperienced. It's a great experiment and we will see how it plays out. Can the method of devaluing the feet on the street by hiring more inexperienced (and thus more replaceable) who sell less clinically and more on relationship overcome these challenges? We will find out over the next 9 months!
trust me it’s already over... culture is beyond toxic and trust in leadership is in the tank. The only thing that will call attention to the failed leadership is to be completely honest on the engagement survey. I’m ranking the lowest score possible across the board.
Regarding the engagement scores, there are two things that are going to happen. First off, as a rule of thumb most newer employees are highly engaged. So, their engagement scores will be high as they are still new to Hologic, fully-engaged, and are super happy to have their first position in medical device sales. High scores will be given. Secondly, if engagement scores are flat or down, the excuse will be that there is a bunch of new management and new culture and one would expect engagement to dip as a result of constant change and turmoil. Either way, the engagement scores will be either celebrated or explained away.
To poster # 1. Anyone who thinks selling on relationships in 2019 is going to get things accomplished is likely in a time machine and actually traveled here straight from 1996. The only thing that relationships help with is getting your foot in the door if it's a brand new product or you're with a start-up no one has ever heard of and can leverage relationships to get a shot of introducing what the company offers. In a world of endless data, VAC and purchasing boards, relationships with practicing physicians are effectively dead.
Sounds like someone forget or never knew how to actually sell. Relationships will never be outdated or as worthless as you say. If you have a solid relationship with somehow who is the chair of an institution and they champion your product, you better believe that unless its absolute shit or your price points are ridiculous you have an amazing chance. Lazy rep comfortable to let their national accounts team do the work for them. Account manager...
Do you not realize that you're actually proving my point...? Relationships get your foot in the door. That's about it. The "chair of an institution" will not have absolute authority in a hospital or health system and you'll still be going through committees and group-based decision making processes. Those good ol' days where a doc had total control ended a decade (or more) ago. The "chair" in today's world has influence but still has to follow the process where devices are analyzed by committees looking at spreadsheets. And I'm the exact opposite of what you described. I don't like working for large companies and thus I've never had a national accounts team helping me - my companies were too small to have national accounts. I leveraged relationships to weasel my way into accounts and sold my butt off to be successful competing against gigantic companies with many more resources and lazy reps. PS- your post is full of spelling mistakes.
^^ Agree and mostly spot on... but will add that relationships not only get your foot in the door, they also help provide info and insight as you attempt to move through a process. But having a relationship with a key doctor or two doesn't mean nearly what it did back in the day. Most physicians have been gobbled up by the health system or have lost a fair amount of control in the decision making process as the process has gone to a more committee-based approach.
Toxic culture here for sure, more managers than reps and more time spent going over pipeline than selling. My manager has never sold before yet feels the need to micromanage my every move. I'm outta here and never looking back. This is a great job if you are braindead and enjoy working in a fake, arrogant, and pretentious culture.
Culture at Hologic sucks a fat D. Lots of really fake conversations and pretending that everything is OK. Good place to work if you like knowing that you have zero allies. Managers are working against the reps and only care about your pipeline.
