Sales turnover near 50%? 🤯 That's a staggering figure, especially when general employee turnover is 11-13%. There's a clear disconnect in how we approach sales hiring and retention.
I recently shared my insights on this critical issue, drawing from 26 years in the employment industry. We're often making promises that don't materialize, leading to a constant churn. It's time to rethink our strategy, moving beyond 'plain vanilla' packages to embrace milestone-driven compensation models. This isn't just about salaries; it's about fostering trust and aligning expectations from day one.
In This Episode:00:00 Addressing High Sales Turnover 03:49 Performance-Based Compensation & Trust 07:38 The Evolution of Sales Compensation 11:47 Growth, Milestones, and Open Communication 14:57 Rethinking Sales and Future Roles
Key Takeaways:- Understand the high sales turnover rates (35-50%) stem from mismatched expectations.
- Propose milestone-driven compensation plans for sales roles, similar to unproven athletes.
- Engage in deeper, more granular conversations during interviews about accounts, territory, and sales cycles.
- Recognize top salespeople as creative "hunters" who compress trust and act as personal brands.
- Adopt a mutual growth mindset where both company and individual share responsibility for success.
www.BusinessFinanceAndSoul.com
https://www.linkedin.com/in/shaunenders/