The sales team is the face and hands of your company. They extend their hand to new customers, making them feel comfortable and welcome; they are also the mouth of the company, explaining your products and services, extending a smile, and building trust. Some sales cycles are long, and it takes a long period of time for a salesperson to get to understand a company or person’s struggle, establish trust, and negotiate the right solution. When a sales person turnovers in the middle of any sales cycle, whether it be at the beginning, the middle, or the close, you lose all of the rapport, trust, and follow up that was created with that person, most likely leading to lost sales.
Furthermore, employee turnover is very costly to a company. The Society for Human Resource Management estimates that it costs $3,500 to replace an $8 per hour employee when factoring the costs of recruiting, hiring, training, lost productivity, and lost sales. This was one of the lowest estimates of 17 nationally respected companies who calculated this cost! Other sources provide estimates of 30-50% of annual salary of entry-level employees, 150% of middle level employees, and up to 400% for specialized, high level employees. With businesses also struggling in this economy, it is too expensive when you make a hiring mistake, which ultimately leads to employee turnover.
We suggest one of these techniques for hiring for salespeople:
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