6 ways to retain your sales investment

7 April 2015
6 ways to retain your sales investment

Ok so you have hired your next Sales Representative and you have already started to invest lots of your time and money in training, coaching and mentoring… So what do you have to do to retain them with you and performing well…?

I looked at some interesting (actually pretty scary) facts regarding staff turnover and they astounded me:

  • Over 50% of the people recruited in to an organisation will leave within two years.
  • One in four people recruited will leave within six months.
  • Nearly 70% of organisations report that staff turnover has a negative impact.
  • Nearly 70% of organisations report having difficulties in replacing staff.
  • Approximately 50% of organisations experience regular problems with employee retention.

So you have taken the time to hire, train, coach and mentor, the next step is to retain them with your business.

Recruitment Agencies are also in the business of sales, so we know only too well how important it is to keep good talent when you find it, so here are some few tips we have to help you along the way…

  • Thank you – I know this sounds simple, but showing your appreciation and recognition goes a very long way. Sales Representatives are usually proud people and this shows them how important they are to your business.
  • Money – This usually ranks very high in importance to sales people. Generally speaking it is a key motivator so finding the right mix of base salary + benefits/ commissions is important, make getting the bonuses and commissions achievable and also look at the mix individually for new business sales vs account management etc. It just might be what you need to drive new sales into your business.
  • Does your sales representative believe in your product/ service? The thing with great sales people is that they can sell almost anything, but it will get boring very quickly if they don’t believe in it. Make sure they have access to sales support, training and tools to do their job well, this will help keep them motivated
  • Celebrate their successes with them, it’s about recognising stand out performance, ensure you communicate effectively with them
  • Progression for sales people is often overlooked as businesses don’t want to move them into another role because it will impact their sales, the reality is if they are hungry for a career and you are not offering them the progression they seek, they will go elsewhere for it. Outline career progression for them in a performance review and set goals and achievements along the way, it will make them even more hungry to do well.
  • Expectations – Be open and clear with setting expectation related to performance, ensure they are fair, transparent and consistent. Moving the goalpost during the year doesn’t encourage staff retention.

Above all else, the key to retain your sales staff is making sure you have hired the right person in the first place. If you succeed in attracting people of the right caliber who have a natural fit with the culture of your organisation, retention becomes far more straightforward to manage.

If you need help finding great sales people contact Active Recruitment