Before we talk about confidence with successfully hiring a sales team individual, whether they’re a VP of sales, a sales manager, or a salesperson, let’s be clear on the risk of a mishire and its associated costs. For most positions, hiring organizations find that for every two hires, they get one good one. Our experience suggests these mishire rates of 50% are higher with smaller business – likely due to the fact that larger organizations have well-established hiring processes. With sales positions, the risk of a mishire is even greater, and the cost of a mishire can approach 6 to 15 times the annual salary of that sales position.
So, for a salesperson who is paid $100K/year, a mishire can cost $600K. A mishire at the VP level can cost $3.75Mil, based on an annual salary of $250K. These are whopping numbers and reflect the all-in costs that may include down time, ramp-up and even remediation efforts that span a period of 6 months or more. Amazingly, 75% of all hires include some level of candidate disappointment.
We’ve all heard the expression ‘money makes the world go ‘round’. Companies are dependent on employees, and great team members grow revenue streams so cash can flow. The two main drivers of revenue in a company are marketing and sales. A lot is at stake when it comes to hiring sales talent.
If you could resolve all or most of the concerns about your sales position hiring and how that has worked for you and your organization, what concerns would you want to address? Too often we’re blind to certain factors in a sales position candidate and don’t have any way to ‘try them on’ before we hire them. It’s something we only discover after we have made our hiring decision.
Read more about hiring for your sales team on our website!
Are you ready to begin your journey?
Are you ready to build a sales-focused organization with a high performing sales team
and an effective sales management solution? Whether you are satisfied
with the effort, focus, and results of your sales team, many people we
speak with have been hesitant to act – simply because they don’t know
where to begin. If you’re open to a brief call, let us know and we can
take the first step together.
Call us at 248-468-7400 or fill out our contact form
to receive a sample sales candidate assessment report! Together, we can
assess how your company is doing, what potential it has, how to realize
this potential, how long it will take along with expected gains. We are
here to help you determine the best way to achieve your goals.
