Where and How to Successfully Recruit the Millennial Generation COLLEEN STANDRIDGE, SENIOR MEDICAL EQUIPMENT AND SUPPLIES DISTRIBUTION PROGRAM, GE HEALTHCARE CLP INTERN AND THOMAS DECARLO, PH.D. AND BEN S. WEIL ENDOWED CHAIR OF INDUSTRIAL DISTRIBUTION UNIVERSITY OF ALABAMA AT BIRMINGHAM HMMC NATIONAL CONFERENCE NOVEMBER 1– 3, 2011 CHICAGO, ILLINOIS Overview Sales talent acquisition and the Millennial generation Who are they? What motivates them? University of Alabama at Birmingham’s (UAB) Medical Equipment and Supplies Distribution Program Key to Future Success Recruit, train, motivate and retain talented young medical representatives. Significant drain of experienced sales reps by 2020. 50% of companies anticipate losing 15 – 30% of their sales force talent by 2020. Costs associated with poor hiring decisions can be significant. Total Quality Management Comparisons Six Sigma Standard 6 Sigma + Error Rate 3.4 per million Business Application Airline flight safety Source: “Total Quality Sales Management, The HR Chally Group, 2008 Total Quality Management Comparisons Six Sigma Standard Error Rate Business Application 6 Sigma + 3.4 per million Airline flight safety 5 Sigma 300 per million Typical world-class manufacturers Source: “Total Quality Sales Management, The HR Chally Group, 2008 Total Quality Management Comparisons Six Sigma Standard Error Rate Business Application 6 Sigma + 3.4 per million Airline flight safety 5 Sigma 300 per million Typical world-class manufacturers 4 Sigma 6 per 10,000 Manufacturing average Source: “Total Quality Sales Management, The HR Chally Group, 2008 Total Quality Management Comparisons Six Sigma Standard Error Rate Business Application 6 Sigma + 3.4 per million Airline flight safety 5 Sigma 300 per million Typical world-class manufacturers 4 Sigma 6 per 10,000 Manufacturing average 3 Sigma 30 per 100 IRS phone tax advice Source: “Total Quality Sales Management, The HR Chally Group, 2008 Total Quality Management Comparisons Six Sigma Standard Error Rate Business Application 6 Sigma + 3.4 per million Airline flight safety 5 Sigma 300 per million Typical world-class manufacturers 4 Sigma 6 per 10,000 Manufacturing average 3 Sigma 30 per 100 IRS phone tax advice 1.6 Sigma 45 per 100 Typical employment selection and deployment Source: “Total Quality Sales Management, The HR Chally Group, 2008 Millennial Generation Quiz The Millennial Generation was born in what years? a. b. c. d. e. 1946 - 1964. 1965 - 1980. 1981 – 1996. After 1996. Are you kidding? I can’t remember my own birthday. Millennial Generation Quiz The Millennial Generation was born in what years? a. b. c. d. e. 1946 - 1964. 1965 - 1980. 1981 – 1996. After 1996. Are you kidding? I can’t remember my own birthday. Millennial Generation Quiz The Millennial Generation makes up what percent of the world’s population? a. b. c. d. e. 5% 10%. 18% 25% I don’t understand the question. Millennial Generation Quiz The Millennial Generation makes up what percent of the world’s population? a. b. c. d. e. 5% 10%. 18% 25% I don’t understand the question. Millennial Generation Quiz What percentage of the Millennial Generation has a tattoo? a. b. c. d. 38% 32%. 15% 6% Millennial Generation Quiz What percentage of the Millennial Generation has a tattoo? a. b. c. d. 38% 32%. 15% 6% Millennial Generation Quiz Biggest complaint of Millennial’s? a. b. c. d. Hearing you say, “When I was your age.” Age discrimination Office politics No one asks their opinion Millennial Generation Quiz Biggest complaint of Millennial’s? a. b. c. d. Hearing you say, “When I was your age.” Age discrimination Office politics No one asks their opinion Millennial Generation Quiz Which of the following would best motivate a Millennial? a. b. c. d. Tell me what you want. Give me the tools. Leave me alone. No news is bad news. Feedback is essential. Micromanage them and you’ll lose their loyalty. What? You can’t motivate a Millennial to do anything. Millennial Generation Quiz Which of the following would best motivate a Millennial? a. b. c. d. Tell me what you want. Give me the tools. Leave me alone. No news is bad news. Feedback is essential. Micromanage them and you’ll lose their loyalty. What? You can’t motivate a Millennial to do anything. Defining Characteristics of Millennials Defining Characteristic Characteristic Development Application “Special” •Rewards for participation •Provide rewards for individual & group work •Provide feedback •Teach to self-reward and self-monitor progress “Sheltered” •Structured •Enforcement of rules and regulations •Clear instructions and expectations of assignments “Team Oriented” •Works well in groups •Socially active •Collaborative learning •Interactive learning “Confident” •High level of optimism •Provide clear definitions and paths to success •Technologically savvy •Include variety of technology in assignments •Want to assist in creating •Provide feedback own knowledge It Takes More than Money Manager feedback needed for continued motivation and performance. Windshield time is considered a waste and detrimental to morale, job satisfaction, and motivation. Self-training modules in an easy to digest format derived from relevant academic research and extensive field experience from successful veteran medical reps. Provide leadership opportunities. E.g., technology adoption, research opportunities Recruiting Challenges Where would you find young, technically competent, medical salespeople that you can rely on to expand your business? Answer: UAB’s Medical Distribution Program. OUR ASSETS STRENGTHS School of Health Professions University of Alabama at Birmingham’s Medical Distribution Program Collaboration between UAB’s Business School and Medical School. Required classes from the School of Medicine or School of Natural Sciences and Mathematics including anatomy, biology and chemistry; Required classes from the School of Health Professions such as health care administration and health care financial management; Required “days in surgery” with a Professor of Neurosurgery and sessions with multiple industry representatives Students observe the use of surgical devices and the application of medical implants in the OR; Required hands-on participation in procedures involving cadavers. Medical Equipment & Supplies Manufacturers OUR DOMAIN Hospitals Clinics Medical Equipment, Supplies and Drugs Distributors Medical Specialists (Dentists, Optometrists, Specialty Doctors, etc. Health Care Customers Assisted Living Centers Medical Equipment & Supplies Distribution DEGREE PROGRAM. 30 hours of directed professional course studies. MKID Classes (17 hours) MK 320 3 Industrial Distribution MK 330 3 Professional Selling MK 408 3 Marketing Research MK 430 3 Industrial Distribution MK 435 3 Industrial Distribution MK 495 2 Industrial Distribution Management Operations Problems Practicum Medical Distribution Classes (13 hours) BY 115 4 Human Anatomy AHS 330 3 Health Care Systems AHS 350 3 Medical Terminology for Health Professionals AHS 416 3 Financial Management in Health Care Organizations • Med ID Majors must complete CH 105/106 Introductory Chemistry I and Laboratory. • Students are encouraged to complete one core course in Biology. MKID Core Med Courses Who Hires Our Medical Distribution Graduates? Cardinal Health GE Healthcare Beckman Coulter Stryker Medtronic Synthes McKesson Henry Schein And many others To Learn More About This Program and Our Students Dr. Thomas DeCarlo Ms. Kristen Craig tdecarlo@uab.edu kcraig@uab.edu Marketing, Industrial Distribution & Economics Business and Engineering Complex Suite 219 School of Business University of Alabama at Birmingham 1150 10th Avenue South Birmingham, Alabama 35294 Telephone 205.975.5810