Retaining Sales Talent

While on Bailey Island, Maine last week I had a chance to reflect on salesperson retention strategies.

Recruiting sales talent, and especially global sales talent, is a difficult task that takes $, time and effort.  Losing talent hurts. Ten years ago, Kelly Rietow, http://www.roosolutions.net/, asked me during a recruiting process-do you think you can keep this salesperson for five years?  That was the BEP (breakeven point) for our field sales reps.  I am sure that the investment has increased since then.  The first 90 days you can determine if the individual was as good as their interview and will be able to complete the tasks responsible to get the job done.  Passed the honeymoon period-test one. 

The second test is tougher and more on the Sales Manager.  The next twelve-twenty four months is the make or break to the five year BEP.    The salesperson will then be fully product trained, coddled, hazed and through at least one sales cycle.  How do you retain your recruit through Phase 2?

1. Provide them coaching so they can improve their skills.It is important to continuously schedule field time and provide written feedback as the salesperson advances their career.Dig back through past coaching sessions:Hve they improved in noted areas?Are they keeping up with technology and new products?
2. Set realistic expectations for their sales budget and plan so they have achievable targets.They may have learned the product basics, but they are still not experienced in product applications and customization.Their growth nut should be set more conservatively than more seasoned reps.It is also important for themto believe their plan is achievable and well within their control.
   
3. Get to know them personally.Invest time into getting to know the total person.They need to know that you have a vested interest in their career success.Know what makes them tick and how they can be motivated.Stay in their hometown and see how they spend their time and the places they frequent.
4. Build out the rest of their 5 year learning plan (beyond the 90 day probation period).It should be replete with in house training, field training, industry events, external seminars, books to read etc.Competencies need to be identified, measured and mastered.If they feel it is fully on them to take advantage of learning programs they don’t see the companies vested interest in their future.Stay on top of their training regimen.Training and development was in another recent blog:http://www.jimthomasintl.com/blog/january-07th-2018.
5. Show them a career path and a way they can increase their compensation and career satisfaction.Provide them a mentoring opportunity with another resource if they want to be in management.Assign them key accounts or a market specific segmentation and training if they want to continue to be an individual contributor.
6. Give them some public recognition.Rookies are usually highlighted as is the Sales Rep of the Year.Sophomores and Juniors can be forgotten.Look for ways to identify their successes to keep them engaged.It may be a new customer addition, coursework completion, but make sure it is heartfelt and meaningful.

Like most of sales management this stuff is not rocket science-it is simple two-way communication to stay engaged.  Eliminate minor dissatisfactions so that you can retain the talent and celebrate their five year anniversary.

Do you want to have a free fifteen minute discussion on how to retain your sales force at any stage?  Sign up on my web site http://www.jimthomasintl.com/ or contact me directly by phone.