By Ken Thoreson, president, Acumen Management Group LTD
This is an excerpt from my latest book: Your Sales Management Guru's Guide to: "Leading High Performance Sales Teams")
Recently, in speaking to two prospective clients, I heard the same complaint that I hear over and over from sales executives: "My turnover rate is huge." They're not alone in their concerns. Consider these facts:
- In one Manpower Inc. survey of nearly 33,000 employers, U.S. and Canadian respondents both ranked "sales representative" as the most difficult job to fill.
- Nearly 25% of nearly 2,200 sales executives surveyed in another study reported turnover had increased during the previous year. Hiring the right talent is critical in building successful sales teams. Studies show that, if you bring
in the wrong salesperson, you lose up to four times the cost of that person's annual salary and benefits in missed opportunities, management time, and fees. (If you're experiencing turnover, you may find Acumen's book Hiring a High-Performance Sales Team a valuable resource.)