Average Tenure And Retention Of Sales Professionals
The average tenure for a Sales Representative in Australia is currently less than 1 year. There are also other statistics that show the average turnover for sales staff can be anything from around 25% to 50% a year, and millennials are staying in jobs for shorter periods of time with around 70% leaving sales jobs within the first 2 years.
Retention of sales staff tends to be low in most cases due to the pressure to meet sales targets as well as the lack of adequate training and support provided. These alarming statistics are monumental, with the costs associated manifesting in many ways, from poor customer service and a steep decline in sales, which leads directly to a loss of reputation, customers, and finally existing employees and finally impaired recruitment.
Statistics like these should serve as a massive wake-up call for companies and organisations all over Australia. Because in today’s hyper-connected world, if these issues are not addressed businesses can find themselves doing down at lightning speed in a death spiral. It’s just not possible to throw your sales staff into the deep end with limited training, or ongoing support, and no clear strategy, and somehow expecting them to reach or exceed sales targets.
Leading a sales team is all about management of a flexible and complex system that requires considered action and constant attention to be truly successful. With visible and tangible frameworks for sales, you can provide your customer service and sales teams with the orientation and direction they need to succeed. Teams who have been empowered with purpose and a clear focus are consistently more engaged which ultimately means your customers are more satisfied.
Coach & Mentor Your Staff
Millennials consistently cite lack of coaching, mentorship, or professional development as the main reasons why they decide to transition out of companies they work for. This means that for retention of millennials and most other age groups, they require continuous feedback which allows them to have insight, and a clear career path with a plan for development of skills that they can aspire to.
New sales hires require strong mentors for them to find success in the long-term. If your experienced sales staff are too busy to help with their expertise, nobody wins. When sales staff are left without adequate support, even after a period of initial success, they’re much more likely to find themselves hitting a roadblock.
Ensure that supporting your team is a high priority, by providing them with the best practices and making yourself available for questions or offering advice. The initial investment of time will motivate your sales reps while inspiring newer staff to commit and persevere through any rough patches in the future.
Provide Access To The Latest Sales Tools
Millennial sales staff are especially tech savvy which means they are extremely eager to embrace any modern sales technology that’s made available to them. If your sales staff don’t have access to modern platforms with the latest tools, it reduces morale because it feels like they are forced to work harder, not smarter, which ultimately impedes their productivity.
Companies who want their sales team to be set up for success and dramatically increase the quality of engagement need to move away from the standard general-purpose tools by investing in modern software tools and platforms specific to sales.
Salestaskr offers an engagement platform with content that supports the sales process and tracks how the content is utilised. Real-time stats and alerts are provided with Salestaskr so that sales reps can arrange to connect with their leads at the best time to make that sale.