Do you have about a 50-50 chance that your new Account Manager or Sales Rep is the right fit?
It is integral to have success in hiring sales reps, but my best statistics hiring “from my gut” was 50%. I learned that being right only about half the time is a great risk.
When you weigh the investment to bring on a sales rep today it is shocking.
What are the costs to bring on a new rep? For fun, check out the hiring mistake calculator.
Depending on how you hire, it can take up lots of leadership time or a lower amount.
Candidates are recruited either through a referral, an external or in-house recruiter.
They go through an on-boarding program where other reps and front line leaders invest hours and hours of their time helping this person succeed.
Easily $30-$40K in salary and benefits for the first 3-6 months is paid for a $50K+ base position. Those are hard costs.
Soft costs are the opportunity costs. If I make the wrong hire and spend six months finding out, we are now missing opportunities that could have happened had I hired the right rep who learned faster and identified the opportunities my current rep has not uncovered. If existing clients get assigned a new rep who is not the right fit, I may also lose existing business.
For argument’s sake, let’s say I have a plan to evaluate my new reps at 6 months to see if we will invest any more in them. If they last that long through my process, I need a way to assess if their hire will pay off – which could take 12 months or more.
Most companies do all of this without quantitative measures - I used to as a sales leader and I understand. It is what you know, and heck, half right is better than being wrong 75% of the time, right?
Why not improve your odds right here, right now?
There are new ways to help you find sellers who have Sales skills and sales DNA – these reps have the skills to sell and the drive to sell. They are motivated and determined to succeed.
What if you could tell whether someone just sounded great or they really WERE going to be a great fit for you?
By: Lori Richardson
About the Author:
As founder and CEO of Score More Sales, Lori Richardson lead efforts for B2B frontline sales growth and work with (or in conjunction with) technology brands worldwide. Lori’s a people person, a “superconnector” and she gets great joy in helping newer SDRs and other sales reps learn ways to grow netnew revenues.
Disclaimer: The views and opinions expressed in this article are strictly those of the author. CPSA does not endorse any of the companies, products and services mentioned within this article.