Recruiting top talent for your sales team is critical to your business, but finding the right fit takes time. Yet training the team in front of you can help you reach your sales quotes and make your people feel valued.
January 23, 2024
You have a sales team but are not satisfied with their results of late. You’re feeling the pressure from stakeholders and need to respond quickly to increase volume and revenue. Your (and/or executives’) first thought is to make new additions to the salaried sales team by recruiting “top” talent from the local or remote labour force. However, understanding that doing so increases company costs significantly in the short and long term (before corresponding sales come in), you’re wondering if sales talent recruiting is indeed the right solution. The Sales Connection suggests an alternative - a better investment in your current staff. Reach out to ask about development training programs for your sales team right away, or read ahead first for further insight.
The initial assumption is that a talent pool exists to fill the unique needs of your company. But did you know that as we enter 2024, Canadian businesses are losing out on up to $38 billion in contracts and sales because of labour shortages? If the lack of skilled sales professionals wasn't enough, take note that the elite among them are being selective in the companies they choose to work with. They know that they are in high demand. Consequently, recruiting for sales positions from a limited supply becomes a trickier task because you are not just looking for talent, you are looking for the right fit for your culture and business.
Your existing staff already understands your products/services better than other talent on the market. This removes the requirement to educate new staff on the important particulars and nuances of said products/services. This frees you up to invest in training and development of the sales process - which is ultimately what needs fine-tuning in the first place. Training also provides a fresh way of looking at everyday challenges and can be motivating if sales education is a routine practice for your team.
When a company hits the open market to recruit for sales positions, a number of internal sales staff members feel resentment that investment was not made in them. Motivation and productivity suffer accordingly, and a vicious cycle ensues. If instead your company proves commitment to existing staff through better sales training and development, it will foster loyalty that leads to retention of budding talent. Add in these four proven tactics for incentivizing sales teams, and your company will enjoy enhanced performance in the fiscal periods ahead.
Sales talent recruitment may be done at the expense of existing staff. In other words, your company may be prepared to let some staff go to make room for supposed talent. Is this really the right investment to make? Research shows that it costs a business an average of six to nine months’ salary every time a salaried employee is replaced. Now spread that across the number of individuals that your organization may be prepared to replace. For a company struggling to improve its bottom line, this is probably not the financial hit to take.
Even if you have no intention of replacing existing staff and are instead adding members, your investment should be prioritized towards sales training. Research shows that external hires cost 18 to 20% more than those developed and elevated from within. Factor in this study which indicates that 30% of new staff quit within their first 90 days, and you’ll quickly realize the best option is already located in your on-premises or virtual office.
The benefits of development and training of existing staff over sales talent recruiting are clear. Learn more about the Expert Sales Training Programs available to all types of Canadian and American businesses via The Sales Connection. Armed with over two decades of experience in advanced selling techniques, your current sales staff will develop a deep understanding of the “art of closing” and deliver an ROI on your investment in them.
Kayvon has over two decades of experience working with high-level closers and perfecting his sales methodologies. He has earned the title of Canada’s #1 pharmaceutical sales representative and continues to share his expertise as a keynote speaker and through his multi-million-dollar coaching program.