All sales leaders want to build a powerful sales organization that generates new business and builds customer loyalty, however, they are often stalled by constant churn. While some companies can dedicate all of their energy to selling, others spend too much time on the “hire and replace” treadmill. Too much churn is similar to entering a competitive golf tournament without a putter! You can play, but you're not going to win.
The costs are extraordinary:
Case in point: Reducing turnover led to millions in saved costs at one Canadian company.
A Canadian company had a sales organization with almost 200 people. Their compensation, collateral support, and customer retention rates were all quite good. Yet, they were still facing extraordinary turnover rates. Management was aware these high turnover rates were keeping their organization inwardly focused, causing significant missed opportunities and risking customer retention. They set out to understand and fix the root issues that were causing the significant financial waste. In a nutshell, after identifying and addressing the issues, their actions resulted in a 33% decrease in turnover and millions of dollars in contributions.
What can you do to reduce unwanted turnover?
About the authors:
Kristina Vohma and Tom Armour are the founders of High Return Selection™ and the developers of Guided Instinct Interviewing™ for Sales.
Disclaimer: The views and opinions expressed in this article are strictly those of the author. CPSA does not endorse any companies, products or services mentioned within this article.
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Learn more about psychometric assessments and how they can help reduce turnover.
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