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Posts Tagged ‘hiring’

How do we measure Remote Success?

Posted on: May 13th, 2020 by Monika No Comments

The business world doesn’t stop, even if it feels like it at times, but you know who really doesn’t stop? Your competition and they will gain new clients, clients that could have acquired.

I feel bad for companies who freeze their business development hiring efforts because those very companies will feel the effects later in the year.

This pandemic has forced us to embrace a remote work environment. Personally, I have preached the concept for years, especially in the industry that I operate in where companies are selling technology enabled solutions. Why would people have to come to an office, other than socializing, gathering and being able to see each other? Yes, it’s good for morale (at times) but you can build a healthy company culture even when employees are not physically together.

And before you feel that I am opposed to being with people, let me explain. I am probably one of the most sociable people you will meet and not many folks I know enjoy company as much as I do. But when it comes to work though, I am most effective by myself. It’s not that I’m not a team player, I am but I don’t need to see people in-person to ask for advice, get or give guidance. And, I also don’t have to see my prospects and clients in order to successfully sell. As a matter of fact, I have been working remote for 17 years and have been able to acquire clients all around the US and internationally without a problem. I had a client for 5 years and didn’t meet here until year 3 and it was perfectly fine. And what do we have all the systems for (CRM, Workflow management) if we still feel we all have to be in one room?

Hiring during this crisis

The other day a recruiter told me that they were not hiring until they can see people again. That’s just crazy talk to me during times where we really don’t know when that will be the case. He said that it would be hard to determine if that person can sell without meeting them. To me the question is, how can you determine if a person can sell when you actually meet them in-person?

The May 7th Revenue Collective Benchmarking Report observed that “Most companies using Revenue or Bookings as the KPI for returning to normal business operations but a healthy chunk (33%) have not defined “normal” at all which puts the team at risk.”

Use Assessment Tools!

I believe what people are afraid of is that they feel that the invisible (or what seems to be invisible) cannot be measured. In fact, there are many sales assessment tools out there to measure whether a sales person will be good at what they are doing.

Unless, you are a business where you only sell to people in-person, most of the transactions will take place over the phone or via Zoom/Skype, etc. So, what better way to measure whether a sales person will be successful than observing how they conduct themselves during the interview process.

For years, I have been telling my clients to not only invite candidates to on-site interviews, but to extensively spend time with them on the phone, to see how they follow up after interviews (because how they do it during the interview process will be how they conduct themselves following up with prospects & clients).

Establish KPIs!

Let’s face it. We have all been a bit lazy and complacent and many companies have been flying by the seat of their pants. They used measures such as “how many times the sales person was on the phone when the manager walked by”. Yes, you know who you are and now is the time to change it. Once we establish Key Performance Indicators, such as…..

·        How many prospects have you researched this week?

·        How many touchpoints with prospects took place?

·        How many actual conversations have you had?

·        How many times did you agree on a next step?

…we will have a much clearer picture of productivity and success.

Now, we are forced to operate in an environment where productivity will matter more than anything else. Sales is measured by numbers like no other profession, it shouldn’t matter where you are in the world as long as you have a computer and an internet connection.

Hiring Sales People has its Costs – Interview with Marc Levine

Posted on: October 17th, 2014 by Monika No Comments

In our efforts as a consultative sales training and coaching organization to comprehensively assist our clients to achieve their business goals, we cooperate with professionals and organizations that provide services aligned with our philosophy and outlook. I’ve been fortunate to work together with Marc Levine of Retensa, who has been helping organizations like Citibank, Prudential, and Kinko’s achieve results by developing business and developing people for over fifteen years.

Marc has been a regional sales rep and sales director in technology and consulting services always producing superior results. Marc’s also been an executive coach and communications trainer helping companies engage people and reduce costs.

Currently he is the Senior Engagement Manager at Retensa focusing on helping companies improve the employee experience and retain top talent.

 Marc Levine

Monika D’Agostino: Hi Marc, and thank you so much for talking to us today. I wanted to ask you a couple of questions about on-boarding and the high cost of employee turnover. Let’s dive into it.

Monika: Why do clients work with you?

Marc Levine: Our clients come to us understand why people join their company, why they stay, and why they leave. Next we help them build and execute retention strategies which may include mentorship programs, manager development and leadership coaching. 

Monika: People often speak about the costs of turnover? What is the real cost of turnover?

Marc: Turnover costs can range from 20% to 150% of an employee’s salary in direct and indirect costs. An employee making $100,000 would cost $20,000 -150,000 to replace. Think of the costs of recruiting a sales rep from external costs of recruiting to internal costs of the time for each person involved in the process. Training costs are high and time consuming. New sales reps may take 2-6 months to reach productivity. Finally there is the opportunity costs of lost revenue in the territory. We help clients determine their true cost of turnover.

Monika: What are our clients struggling with the most?

Marc: Our clients struggle in a few areas. The overall theme is helping them make data driven decisions instead of guessing as to what their employees think and feel about the organization.

For some morale is down and they don’t know why. They’ve tried different things to improve morale and nothing has changed. We talk to their employees and capture an honest understanding of what is happening and present this information to the client. Studies show that the executive team can receive less than 10% of the true frontline employee experience.

Other clients want more efficiency in capturing their exit interview data and need help to automate their reporting. Exit interviews are one of the best sources of capturing the employee experience. Unfortunately, people can be reluctant to be honest with HR. We help clients separate the noise of the vocal minority from how people truly feel about leadership, benefits, individual managers, the company brand, and their coworkers.

Of course others are losing their talent and don’t know what will resonate with them to keep them. We may provide retention skills training that allows managers to see the signs that an employee is about to leave.

Monika: What’s the most overlooked factor in turnover?

Marc: The manager. People leave managers, not companies. Your relationship with your direct manager is the biggest factor. Money is usually third to sixth on the list of why people leave companies. However, with sales reps “messing” with their compensation, which causes them to lose trust in the organization, will also be very high on their list of why they leave. 

Monika: Tell us a bit about Retensa:

Marc: For 15 years we’ve been helping organizations attract, motivate, and retain their best people. Through our extensive research we created a lens to view the employee experience. Our “Employee Life Cycle” model is taught in colleges and Fortune 500 companies. Currently we work with clients in 40 countries and in 13 languages, from Nestle to high growth companies with 30 employees. Our vision is that “everyone works in a job where they feel engaged and inspired.”

We’re here to help companies keep the talent that they want to keep. Your readers should feel free to email me with questions, or anyone would like to receive a white paper on the cost of turnover please contact me at Marc@retensa.com

Monika: Thank you for your time, Marc. I hope that our readers now have a better understanding of why on-boarding and retention is so important to their success.