I receive a lot of love letters from recruiters asking for first dates to chat about “exciting sales opportunities”. The position is not a career progression opportunity, but a similar business development role at a different company. Clearly, these recruiters don’t expect me to be faithful employee.
What Research on Sales Rep Turnover Reveals
According to Harvard Business Review, a lot of us salespeople are cheats; we have a 27% annual turnover rate. That’s twice the average rate of all other professions. When a salesperson leaves, it can hurt client relationships, reduce the ROI of training that rep, and result in costly onboarding and hiring costs to replace him or her. And it gets worse. HBR reports the most powerful force behind rep turnover is peer turnover, whether voluntary or involuntary. When sales people see their colleagues leaving, their desire to start looking around spikes dramatically.
Creating A Sales Culture That Retains Sales Rep
Sales people leaving can be detrimental to your sales team culture, so building loyalty with your sales team to ensure they are long term valentines Is crucial. Effective company onboarding and sales resources play a critical role in retaining your sales people. Sales people know that job security is heavily tied to performance. If they believe they haven’t been trained properly or given the tools to succeed, they will often look at opportunities elsewhere rather than risk becoming a low performer. It’s essential that your sales team is sufficiently prepared and enabled to succeed.
Another fundamental factor is adequately recognizing top performers. Top performers bring in the most revenue for the company by a substantial margin. Consequently, they are actively recruited for outside opportunities. It is necessary to provide excellent compensation and upward mobility for these employees. If you aren’t properly rewarding your top performers, your competition will.
Do You Know if Your Sales Reps are Faithful?
The key to a strong sales team filled with faithful top performers is effective onboarding, enablement resources, and compensation/advancement structure. If you’re not confident your sales foundation is set up to retain talent, take this assessment to find areas for improvement.