Churning vs. Earning

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Employee Turnover is famously expensive. Experts estimate that the cost of replacing a typical employee is approximately 150 percent of that employee’s annual compensation. For sales personnel, though, the figure is far higher, because the departure of a key player usually means lost sales and lower revenue. To make matters worse, many sales teams generally experience a higher turnover rate than other groups inside a company. The average tenure of a sales professional gets smaller ever year. Even so, there are many sales teams that remain more or less intact, even in highly competitive industries. What’s their secret? Many organizations utilize behavioral assessments to match sales professionals with the right sales jobs, thereby ensuring their personal success as well as higher job satisfaction. This, in turn, reduces or eliminates expensive churning of sales personnel.
This Presentation explains how sales teams are remaining more or less intact, even in highly competitive industries. Learn how organizations are utilizing behavioral and skill-based assessments to match sales professionals with the right sales jobs to increase job satisfaction and personal success while reducing the costly consequences of churning out sales personnel.

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Churning vs. Earning

  1. 1. Churning Vs. Earning“If the manager understands how the rep makes decisions and receives information, this unlocks tremendous potential for better communications and, ultimately, better business results.” Michael Thorne Senior Vice President Yankee Candle Company 1
  2. 2. Roadmap1. Cost Of Employee Turnover2. Behavioral Assessments3. Better Job Assignments4. The Right Career Path5. Effective Sales Training & Coaching6. Conclusion 2
  3. 3. Cost Of Employee Turnover Employee Turnover Is Famously Expensive Cost Of Replacing An Employee Is Approximately 150 Percent Of That Employee’s Annual Compensation For Sales Personnel, The Figure Is Far Higher 3
  4. 4. Cost Of Employee Turnover The Departure Of A Key Player Usually Means Lost Sales And Lower Revenue Sales Teams Generally Experience A Higher Turnover Rate Than Other Groups Inside A Company The Average Tenure Of A Sales Professional Gets Smaller Ever Year 4
  5. 5. Behavioral Assessments Many Sales Teams Remain Intact, Even In Highly Competitive Industries. What’s Their Secret? Individuals Have Measurable Characteristics That Determine What Motivates Them Sales Managers Can Take Advantage Of This Scientific Fact By Using What’s Known As A "Behavioral Survey” 5
  6. 6. Behavioral Assessments - Advantages Creation Of An Ideal Profile For Each Sales Job Crafting Of Progressive Career Paths Within The Company Targeting Sales Training More Precisely Customization Of Sales Coaching To The Needs Of The Individual 6
  7. 7. Better Job Assignments Myth- All Sales Professionals Have Similar Personal Characteristics In Many Sales Organizations, Jobs Have Become Increasingly Specialized With Specific Roles Depending On Personal Characteristics, A Sales Professional Will Feel Comfortable Or Uncomfortable In Any One Of The Many Roles 7
  8. 8. Better Job Assignments When A Sales Manager Tries To Cram A Square Peg In A Round Hole, It Inevitably Creates Job Dissatisfaction With Behavioral Assessment, A Sales Manager Can Confirm Whether Or Not An Employee Is A Good Fit Cost Of An Assessment Is One-half To One-third Of What You Would Pay As Recruiting Fees For One Person For One Year 8
  9. 9. The Right Career Path It’s Not Enough To Get The Right People Into The Right Jobs Short Term Sales Professionals Also Want To Know Where They’re Headed Long Term With Behavioral Assessment, Sales Managers Can Customize Long-term Incentives To Accommodate The Different Personality Types Of Individual Sales Employees 9
  10. 10. Effective Sales Training And Coaching The Primary Purpose Of Sales Training Is To Increase Sales Sales Training Increases The Person’s Ability To Sell- Job Satisfaction Naturally Goes Up And Turnover Goes Down However Some Organizations Do Not Understand The Strengths And Weaknesses Of Their Sales Resources 10
  11. 11. Effective Sales Training And Coaching Selling Skills Assessments Allow Sales Managers To Select Appropriate Sales Training That’s Customized To Specifically Address Weaknesses Assessments Help Diagnose Problems In The Sales Process And Guide The Development Of Sales Training Programs To Have Long-term Impact, Sales Training Must Be Reinforced Through Consistent Management Coaching 11
  12. 12. Effective Sales Training And Coaching It Is Difficult For Managers To Provide Appropriate Coaching To Each Individual With A "One Size Fits All" Approach Behavioral Assessment Makes Sales Coaching More Effective Because It Provides Insights Into Each Employee’s Natural Behavior And Workplace Drives Sales Managers Can Easily Adapt Their Communication Style To The Coaching Needs Of The Individual Performer 12
  13. 13. Conclusion Behavioral Assessments Offer A Scientifically Proven Way To Better Match Individuals To Sales Jobs & Career Paths They Better Harness Sales Training & Sales Coaching To Improve Sales Performance They Create An Environment Where Sales Personnel Experience Higher Levels Of Job Satisfaction, Thereby Reducing Costly Employee Turnover 13
  14. 14. Want to Know More?Learn How Organizations Are Utilizing BehavioralAnd Skill-based Assessments To Reduce The CostlyConsequences Of Churning Out Sales Personnel http://bit.ly/churningvsearning 14
  15. 15. Thank you!Questions? info@piworldwide.com | @piworldwide http://www.linkedin.com/in/piworldwide More Information: http://www.piworldwide.com 15

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