Recruiting and Retaining Talent for a Corporate Sales Team
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Sales Training advice provide by Debbie Sweeney – Managing Director and Sales Trainer, Solutions2Success
This short article is based on a combination of personal experience, views from top performers and HR professionals, and surveys conducted by the Chartered Institute of Personnel Development (CIPD).
Talent Management is high on the agenda of many HR Directors. Why? It is increasingly harder to recruit top talent. As such, the need to develop high potential individuals and succession plans is inspiring organisations to invest in talent management activities.
The key findings from the L and D 2006 CIPD survey regarding Talent Management were as follows:
- 94% agreed that well-designed talent management activities can have a positive impact on the bottom line.
- 47% agreed that there is a current shortage of high quality talent in UK organisations.
- The main reason behind investing in Talent Management was to develop high potential individuals (67% of organisations), while only 33% did it to retain key personnel.
After looking at the recent literature, it is becoming clear that money is not the most important reason why top talent stay with an organisation. Rather, money is a motivator for the short term. All employees want to receive fair pay for a job well done, however personal and career development is the main reason why people stay with an organisation. In fact, according to a recent CIPD survey, the reason why 2/3 of people leave an organisation is the lack of personal or career development. While it is important to invest in the training and development of your employees, it is equally important to implement mechanisms that will create a support network designed to encourage continued learning and application of skills gained in the workplace. Other effective ways of developing talented individuals include manager-employee coaching, appraisals, and a good understanding of key drivers from a personal and business perspective.
Generation ‘‘Y’’ are more interested in ‘what’s in it for me’: they want more of a work-life balance or the chance to work with an organisation that is willing to help with self-development and career progression. These individuals are less loyal than those from the ‘baby boom’ era. Your management of this group will be different to your management of the more mature workforce as their motivations and needs are different.
Get your top sales talent engaged. The recent Patterson’s report entitled Impact on People Management Practices to Business Performance shows that people initiatives impact on productivity by 18% compared to R and D (8%). An engaged workforce feel like a part of the organisation and this helps increase employee loyalty, customer satisfaction and positive impact on productivity.
“Top performers grew profits between 80-130%, average performers profits were flat.” (McKinsey, The War for Talent)
You have 3 types of employee: top performers, potential stars and weak links. Who do you want to retain and help grow with your business?
Solutions2Success provides a two-day management course entitled ‘Enhance Performance and Motivation of Individuals and Teams’ and Coaching and Mentoring for Success’ to help you address these challenges and deploy effective ways to attract, retain and develop key individuals.
