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Company: Edwards Lifesciences, Irvine, CA
Company Description: Edwards Lifesciences (NYSE: EW) is a global leader in products and technologies to treat advanced cardiovascular disease, acute hemodynamic monitoring, and is the number-one heart valve company in the world. Headquartered in Irvine, California, Edwards has more than 5,700 employees worldwide, selling medical technologies in more than 100 countries with 2006 sales of $1.037 billion.
Nomination Category: Best Organization Achievements
Nomination Sub Category: Sales Management Training Program of the Year
Nomination Title: Edwards Lifesciences
How many people are in your organization's entire sales department?
Annual sales volume in 2006 was $1.037 billion.
What is your organization's annual sales volume? If this information is confidential, simply enter "Confidential" in this space:
Annual sales volume in 2006 was $1.037 billion.
Provide a brief biography of the leader(s) of your sales organization (up to 100 words):
Alex Martin
Corporate Vice President,
North America
John “Alex” Martin is the Corporate Vice President, North America of Edwards
Lifesciences headquartered in Irvine, California. Mr. Martin joined Edwards
from Cordis Corporation, a Johnson & Johnson company, where he most recently
served as Senior Vice President, International. He previously served as
Cordis’ Vice President of Sales and Marketing, with responsibility for all
U.S. coronary therapeutic and diagnostic device sales. Under his leadership,
the company experienced significant growth and became the leader in its
market. Prior to joining Cordis, Martin served in sales, marketing and
business development management positions at several organizations, including
C.R. Bard’s USCI division and IMED Corporation. He also served as Director of
the Emergency Medical Services at The Medical Center at Bowling Green. Martin
holds a bachelor’s degree from the University of Kentucky at Lexington.
Describe for the judges your achievement in this category (up to 100 words):
To optimize sales force effectiveness, we innovated a tool for managers to
quickly diagnose performance strengths, deficiencies, and motivational
anomalies of sales representatives. An algorithm, which addresses important
attributes that directly impact sales, is used in conjunction with a Region
Director Standard Operating Procedures manual which provides direction for the
diagnosed issue. The manual contains templates for field visits, goal
setting, and strategic targeting analysis, as well as talent development
strategies, model day and week standards, motivational products, and
performance plans through interviewing, hiring, and termination.
Also, six management courses were launched in tandem with the algorithm and
manual.
http://thestevies.com/SPSEA07Attachments/EdwardsLifesciencesSalesManagement.bmp
Briefly describe the 3 keys to the success of your initiative (up to 100 words):
Prior to the launch of the new RD diagnostic algorithm and SOP manual, there
was not a unified and consistent standard for managers to assess and directly
impact sales representative performance. Since implementation, the management
team has been trained on the new tools, and is now prescribing the principles
within. The three keys of success include standardization among managers, the
ability to track performance, and formalized tools to allow correction and
proactive prevention of sales demise.
List the 3 most important lessons your organization learned during this process (up to 100 word):
Not having a standardized method and process for assessing sales
representative performance has negatively impacted sales effectiveness, and
since progressive disciplinary documentation did not exist, relations between
management and sales representative suffered. The new RD diagnostic algorithm
and SOP manual creates a viable solution for managers to help sales
representatives improve performance and now managers have the ability to
assess and offer solutions to improve deficiencies.
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