SELF IMPROVEMENT AND MOTIVATION

Sales rep turnover can be very costly for organizations, both in terms of hard costs (actual outlay of training and other dollars) and opportunity costs (lost future business). According to Gallup research conducted in 2006 1 , five of the top predictors of turnover are: 1. The immediate manager 2. Poor fit for the job 3. Lack of commitment to quality 4. Pay and benefits 5. Connection to the organization, or to senior management In addition to those mentioned by Gallup, there are two other causes of significance: 6. Poor hiring 7. Insufficient onboarding Let’s look at each of these individually. 1. The Immediate Manager The most common cause of sales rep turnover is a sour relationship with the direct manager. This relationship is critical, and if it doesn’t work well it will lead to a termination or resignation. One CFO commented, “People need to be appreciated for their hard work, and if the employee doesn’t feel this respect ...

Change is inevitable, but it can be costly for your business. Employee turnover is one such element of change that directly affects your bottom line. As such, it is important to identify the motives of departing workers and devise an effective retention strategy. Here are four of the top reasons good employees may resign: 1.  They’re motivated by higher pay . No matter how much someone loves working for you and believes in your business, if they are presented with a better offer they will likely consider leaving. Keep tabs on what compensation is being offered by your competition and be sure you are offering comparable benefit packages. In addition to traditional “pay and benefit” compensation, some companies also opt to offer additional perks such as on-site fitness rooms or day care, discounts on services or travel, and employee assistance programs. 2.  They’re not engaged .   “Employee engagement”   may sound like another corporate buzzword, but th...