Maximizing profits by hiring and developing a winning sales team
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The presentation touched upon the various personalities, knowledge and motivations that are critical for a sales professional and the need to assess these attributes while hiring.
Maximizing profits by hiring and developing a winning sales team
- 1. Maximizing Profits by Hiring and Developing a Winning Sales Team Somdev Chaudhuri Head – Assessment Products, MeritTrac Services
- 2. Wrong hires are the single highest hidden cost in any business…More so in Sales Roles Salary and running costs, the recruitment fees, training costs and expenses pale into insignificance when you compare the HIDDEN COSTS OF A BAD HIRE
- 3. To add to it, High Employee Turnover Impacts Relationships and Long Term Business Potential voluntary and involuntary sales representative turnover rate Because organizations are not placing the right people into the right jobs Keeping the sales team engaged and motivated while retaining the organization’s culture is a key challenge for many organizations 28%
- 4. There is a Need to Understand Diverse Requirements for Each Sales Role
- 5. Key to Successful Hiring for Sales Role Continuous development through personalised training Probing to know more about the candidate Measuring current and future potential Assess Behaviour & Knowledge to ascertain fitment with organization and it sales methodology
- 6. Scientifically Designed Sales Assessments provides the necessary information • Relatively stable characteristics that do not change easily over time Sales Personality • Understanding of effective behaviors and strategies at key stages of the sales cycle Sales Knowledge • Personal motivators to help in managing and motivating the candidate Sales Motivations
- 7. Key Personality Characteristics to be Measured • Weighted Personality Characteristics • Energy • Follow Through • Optimism • Resilience • Assertiveness • Sociability • Expressiveness • Serious-Minded • Additional characteristics: • Self-Reliant • Accommodating • Positive about people * test showcase here is SalesMax
- 8. Sample Questions Personality * test showcase here is SalesMax
- 9. Importance of Measuring Sales Knowledge Sales knowledge – scenario based, informational & non evaluative (does not impact success index) • Prospecting/Pre-qualifying • First Meeting/Impressions • Probing/Presenting • Overcoming Objections • Influencing/Convincing • Closing Candidate results normed in relation to experienced, sales representatives * test showcase here is SalesMax
- 10. Sample Questions Sales Knowledge * test showcase here is SalesMax
- 11. Motivation is a Key Aspect of Any Sales Team • Need to understand what motivates the sales team • Sales motivations - forced ranking • Recognition/Attention • Control • Money • Freedom • Developing Expertise • Informational and non evaluative (does not impact success index) • Candidate results indicate highest and lowest motivational areas * test showcase here is SalesMax
- 12. Sample Questions Motivations * test showcase here is SalesMax
- 13. Selection Report • Selection Advice • Overall recommendation • Insights into assets and liabilities • Personal motivators for managing and motivating the candidate • Interview Probes • Reference Probes • Management Suggestions * test showcase here is SalesMax
- 14. Selection Advice Success Index – quickly gauge the candidate’s sales potential Strengths & Weaknesses • Personality Insights • Sales Motivation • Sales Knowledge * test showcase here is SalesMax
- 15. Interview Probes Interview Probes are provided for any area where the candidate scored outside of the desired range. * test showcase here is SalesMax
- 16. Reference Probes Reference Probes are provided for any area where the candidate scored outside of the desired range. * test showcase here is SalesMax
- 17. Management Suggestions Management Suggestions provide guidance for potential problem areas. * test showcase here is SalesMax
- 18. Development Report • Development Reports Include: • Graphic Profile • Detailed Feedback • Developmental Suggestions • Action Plan Guidance * test showcase here is SalesMax
- 19. Development Report Detailed feedback helps the employee recognize areas of strength and potential development needs. For any area where the employee scored outside of the desired range, a Developmental Suggestion is provided. * test showcase here is SalesMax
- 20. Developmental Action Plan Guidance The report gives guidance for writing a personal Action Plan which capitalizes on strengths and helps to manage weaknesses and close gaps. * test showcase here is SalesMax