This guide, written by SumTotalSystems, outlines three employee retention techniques to retain your top sales performers. These retention strategies will ensure you retain the right talent to execute and grow.
Various studies indicate that 45-50% of all top performers are actively looking for new jobs.
To a typical company, the potential economic impact caused by a mass exodus of high performers is incalculable. How can Sales Managers expect to weather the economic storms, let alone grow your businesses, when your A-list employees are disengaged and flying toward the exits. Forunately, there are retention strategies and steps you can take today to retain employees and to forestall the exodus of your top sales talent.
1. Provide career advancement opprtunities
Unsurprisingly, 84% of HR and business leaders believe that providing career advancement opportunities to top performing employees is the most impactful way to retain them. Yet only 43% of organizations have put in place a systematic process for employee development, which indicates a rather serious disconnect.
2. Improve engagement to drive Productivity
Business leaders are more frequently recognizing the importance of an engaged workforce and its potential to drive business performance and impact the bottom line. Engaged employees are people that are highly motivated and vested in the success of their organizations and are willing to make an extra, discretionary effort in their daily work.
3. Build a Performance-Oriented Culture
Programs that align employees’ compensation – merit increases, bonuses, long-term incentives – to their performance have proven to be very effective in driving actual performance. Often called pay-for-performance (P4P), the concept is to build a culture of top performers by aligning goals, performance, and rewards across an entire organization. Motivating, rewarding, and retaining top performers is a key business objective for any company that seeks to successfully maintain or exceed growth expectations.
We encourage you to read the complete Guide To Retaining Top Sales Talent, CLICK HERE.
Please enjoy this related article titled "Modern Science of Sales Person Selection" from the EcSELL Institute Resource Library. Also, please consider subscribing to our Sales Exectutive Newsletter which features research and best practices around sales coaching and managing the 6 Pillars of Sales Productivity.
If you found this type of information useful, please consider subscribing to our Sales Leadership Blog via email or RSS (scoll up to the upper right hand corner of this page).