Selling is, by far, the most expensive part of strategy execution for most firms. There is no single area where the impact can be greater than hiring and retaining the right sales talent. ... Ironically, recruitment is also, in most cases, the least disciplined process in the business. Hiring is often done without the level of rigor and science that can and should be applied.”
—GrowthPlay CEO Dan Weinfurter
In his article "The Critical Importance of Talent," featured in the May 2017 edition of Top Sales Magazine, GrowthPlay Founder and CEO Dan Weinfurter shares insight from decades of recruiting, hiring, and retaining high performing sales talent.
"Just getting the correct talent can double overall firm revenue with no incremental headcount," he writes. "Each mistake in a typical business to business complex sale environment is likely to cost your firm more than $1 million – each one."
"Putting rigor behind the way you hire and retain high performing sales talent is critical to your longterm success," Weinfurter says. "Without the right people in place, you will struggle obtaining profitable revenue growth."
In the article, he offers the following advice for establishing a process:
5 principles to improve your odds of reducing bad turnover and retaining top performers:
- Define the job and the selection criteria - Before beginning a search for the perfect candidates to fill needed roles, you need to define each position.
- Process and discipline - Put in place some sort of recruitment process, and one that has process and discipline associated with it.
- Don’t settle for mediocrity - Studies have shown that the cost associated with hiring the wrong person is far greater than the cost of leaving an existing position unfilled.
- Enable your managers - The impact that your managers have on new hires is significant. People will quit their bosses before they ever quit the company.
- Always be recruiting - Good people can come from any number of sources, and you need to remain vigilant to find talent.
GrowthPlay is an Advantage thought leader partner specializing in sales effectiveness, potential and performance measurement, and talent analytics.
Related article: The 30-30-30-10 rule for hiring sales professionals
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