You do everything you can to attract top sales reps to your company.Or do you?
Every sales leader wants to hire the next rainmaker or closer but what exactly are you doing to attract them to your company?
Sales representative is the 2nd hardest position to hire for in 2015, according to ManpowerGroup's annual Talent Shortage Survey.
Especially if you’re looking for top performers.
Consistently high producing sales reps are rare. Some estimates have them at 5-10% of the total sales population. And top performing sales reps want more than a paycheck.
They aren't looking for a job so much as they're looking for a career. A place where they can grow. If you want them to consider your company, you need to understand how to attract top sales reps to your company.
4 Statistics Every Learning & Development Professional Needs to Know
The problem is recruiting and keeping sales reps is getting harder. In fact, these are two of the biggest challenges sales leaders have to deal with. Research shows that turnover in sales organizations is not only increasing, it’s costing companies money.
- A recent CSO Insights study found that turnover rates in sales organizations have increased in 2015 from historic lows in 2014. There's been a 35% increase in involuntary turnover.
- The same study shows that a higher turnover rate results in a lower percentage of remaining sales reps hitting their quotas.
- As in 2014, the same ManpowerGroup survey found more than half of those employers experiencing a talent shortage say it is having an impact on their ability to meet client needs.
- According to ManpowerGroup's 2015 Talent Shortage Survey, only 13% of job vacancies are due to applicants looking for more pay than companies are offering. But 56% of vacancies are due to issues such as lack of technical competencies and lack of experience.
Companies are struggling to hire talented sales reps. Yet it seems money may not be as important as you would think. So what does make sales reps want to work for a particular company? Read on for a few tips. But kepp in mind, companies must work harder to attract and keep sales reps if they want to avoid missing quotas and losing customers.
Hiring sales reps is getting harder
Hiring top performing salespeople can feel like looking for a needle in a haystack.
You've tried job postings, recruiters, and social recruiting. It's enough to make you cry.
(image credit: Racso_ via www.reddit.com)
It’s getting hard to attract sales reps period, let alone top-performing sales reps. But why?
The ManpowerGroup survey found the top reasons were:
- lack of applicants
- lack of experience
- lack of skills.
Perhaps you can’t do much about a lack of applicants, but the other two problems aren’t that tough to address.
Why Training & Development is More Important Than Ever
It’s simple really.
If you want top sales reps to fall in love with your company, help them get better at what they do.
Think about it. Most salespeople are driven, motivated individuals. Assuming they have basic sales skills and the desire to improve, they can make a decent living at most companies. But not every company will help them become better salespeople.
Top performers want to know if their sales manager has the skills to coach them and hone their skills. They want to know that they'll have a chance to advance their career. And they want to know what kind of training and professional development they will receive.
The thing is, research shows that most companies aren't offering employees enough training opportunities. Only 1 in 5 companies are providing training and development to existing staff. This is an opportunity for your company to stand out by providing sales training resources.
"Employers need to foster a learning culture within their organizations and encourage employees to own their careers. They need to promote their employee value proposition to position the company as a talent destination." ~ManpowerGroup 2015 Talent Shortage Survey
Investing in new-hire training programs and ongoing developmental training is just the beginning. Sales pros are looking for career development. Offering quality training and development opportunities will help you cultivate top talent and show high performers they've found a place where they can grow.
When you offer more training and development opportunities, you're not just helping your sales reps. You're also helping the company. Training and development leads to improved sales performance. When you have a positive sales environment, it attracts top sales reps who want to work where they can succeed.
So, if you want to build a teamful of rockstars stand out from your competition, start by offering sales training opportunities.
With it getting harder to hire sales reps, companies must work harder to attract and keep sales reps if they want to TK
How do you invest in your people in a way that helps them grow personally? Let us know by tweeting TK
(image credit: Anthony Sills)