😳 The average staff turnover for sales people is 25%-30% per year. That’s the equivalent of hiring and training your entire sales force every 4 years.
😳😳 Plus, the real cost of hiring a new consultant is 15x their salary, according to topgrading dot com.
💰 These are pretty sobering facts. If you put those numbers into a spreadsheet for your staff, it comes to a pretty big number.
There are many moving parts that influence the success rate of consultants at recruitment companies. However, hiring the right people in the first place is obviously key.
📖 I read an interesting article recently about dumping job descriptions i.e. what people will be doing, in favour of job scorecards which reflect;
✅ Competencies – technical & cultural
If you want to read more about that, this is the article https://bit.ly/3g6NakH)
𝐍𝐨𝐭 𝐚𝐥𝐥 𝐬𝐚𝐥𝐞𝐬 𝐫𝐨𝐥𝐞𝐬 𝐚𝐫𝐞 𝐞𝐪𝐮𝐚𝐥
🎯 In recruitment we all talk about 180 vs 360 like it’s a binary choice. But sales tasks differ wildly from company to company, sales team to sales team and even role to role in the same sales team. These are influenced by your particular market, your strategy, the maturity of your business, your model, your target customers and their buying patterns.
Thinking on hiring needs to be much more nuanced.
And yet, a main cause of under performance and high sales staff turnover is poor job fit i.e. hiring people to carry out tasks that are a poor fit for their skills and preferences.
Considering the money involved in terms of salaries and revenues at stake, it’s worth putting in extra time and resources to reassess this process as a key strategic project using OKRs, SMART objectives or similar.
👋 If you need a hand with improving results, let me know. Or if you would just like further ramblings … remember to follow me on here 🔔.
🙀 If you want to put the cat among the pigeons, you could always do what
Amazon & Zappos did and pay people up to $5000 if they choose to leave.