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Generation Hire and Sales

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					Life Cycle of a Sales Rep
Recruiting, cultivating, and retaining the best talent



                     presented by
              SESSION ONE




Session One
Agenda – Session One

 Discuss current trends
 Identify owner challenges
 Discuss Life Cycle Methodology
    • Hire
    • Orient
    • Develop
 Wrap session one – prep for session two




3
Current Trends

 Multiple job opportunities available
    • Increased rep leverage in interviewing process
    • Shrinking pool of truly talented individuals
 High-performing reps are “entrenched”
 Hires are made without a general plan
    • Confusion & miscommunication common among
      new reps
    • Sales managers promoted based on performance,
      not management ability
 Transience – decreased loyalty

4
Challenges

 Disconnect
 Poor follow-through
 Inconsistent measurement
 Economic changes cause „management by crisis‟
 Weak development
 Inability to make objective decisions




5
Life Cycle of a Sales Representative




                       Develop                 Promote



    Hire     Orient          MANAGE Assess


                                              Terminate
                        Measure


    Begin             Grow                   Next
    RELATIONSHIP




6
Why We Need a Life Cycle Process

Features
 Recruit, hire and retain the right people
 Applying a consistent methodology to the process
    • Simpler management
    • Realistic goals
    • Real-time assessment
Benefits
 Decreased personnel costs
 Increased productivity
 Accelerated return on personnel investment

7
                                                               BEGIN




   Hire




Recruiting and interviewing with a focus on retaining talent
Recruiting Best Practices

 Diversify your talent pool sources
    • Internet – multiple job boards – do your homework
        Monster & MonsterTrak, CareerBuilder, etc.
    • Local business journals
    • Networking events/recruiters, job fairs
    • Universities – specific schools:
        Reputation
        Program type (business, communications, etc.)


                                                         Foundation
                                                          Questions




9
Recruiting Best Practices

 Sources should mirror organizational focus,
  vertical market, and overall business plan
 Trade organizations
 Manufacturer events/partner conferences
 Recruiters
     • Profile the recruiter; get as much info on the firm
       and its methodology as possible
     • Are they recommending candidates that will
       complement the way you do business?



10
Interviewing Best Practices

 Two interview minimum
 Filter factors
     • Set objective criteria
     • Intuition is one thing, but not the only thing
 Good questions are key
     • Sales methodology
     • Ability to plan, multitask, learn, internalize
     • Question time gaps on resume

                   Quality may take time.


11
Interviewing Best Practices

 Reference check
     • Not lip service: Fact-finding
     • Ask direct questions
     • Solicit candor
 Have candidates present a territorial plan during
  the second interview
 Buy-in and sign-off on compensation plan and
  milestones

                                                   Interview
        Consistent Messaging = Increased Success   Checklist




12
Questions to Hit – Open-Ended

 Multitasking ability:
     • “Discuss a time where you had multiple deadlines
       converging at the same time. How did you do it?”
 Operational (or financial) responsibility
     • “Tell me about the last deal you closed that
       required the involvement of others in your office.”
 Operating under stress/pressure
     • “Tell us about the last time a risk you took
       backfired.”
 Overcoming job adversity/failure


13
Questions to Miss

 Family-related
 Personal questions related to:
     • Health (current or past)
     • Lifestyle
     • Age
     • Origin/nationality
     • Religion




14
Candidate Assessment

 Can they hit the ground running?
 What tools do they bring to the job?
     • Are those tools sharp enough for your work?
 What tools will you need to provide?
     • Do they know how to integrate new tools into their
       skill set?
 Organizational goals
     • Are there any discrepancies between organizational
       expectations and those of the rep?
     • Are they “within acceptable tolerances?”

15
Candidate Assessment



           Experienced                              Rookie

       Pro              Con              Pro                 Con

                  Higher initial    Lower initial     Compensation
 Existing skill
                  compensation      compensation      savings go to
 set
                  needed            needed            training costs

                                    Learn your        Untested,
 Faster initial   Moved once,
                                    culture, your     uncertain,
 production       may do so again
                                    way               unknown




16
Retaining vs. Releasing – TCO

 Turnover vs. Training
     • Assumption: 1.5x salary to hire and train new
       employee*
     • Base annual salary: $40,000
     • 10% turnover in a sales force of 100
     • Annual staffing cost due to turnover: $600K
 Do you know your average industry turnover?
     • Figure these costs into the overall strategy
     • Stagger staffing to mitigate voluntary terminations



17              Source: PriceWaterhouseCoopers, 2006
Responsibilities – Hire

Management                Sales Rep
 Recruit                  Territorial sales plan
 Set hiring criteria      Sign off on:
 Prep interview format      • Compensation plan
  and content                • Organizational
     • Use consistent          objectives
       outline             Negotiate/accept offer
 Check references
 Negotiate/extend                              Hiring Best
  the offer                                      Practices




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                                                            BEGIN




   Orient




Laying the foundation now for success within the organization
Orient - Challenges

 Will the new hire:
     • Buy into the process & methodology?
     • Assimilate into the corporate culture?
     • Align with corporate expectations?
     • Understand the business portfolio?
 A note about experienced reps
     • Methodology and performance expectations
     • “Old habits die hard”

          Execute a thorough new-hire checklist


20
Sales Representative Onboarding


                             Compensation Plan
Introduce                Educate                   Install

Day 1                                            Day 90

     Baseline   Engage         Educate         Reinforce

                Rep Onboarding Process

                              Learning Curve


                                                             Comp
                                                             Plan




21
Orient

 Balance training investment
     • Must have skills and knowledge transfer
     • Too much “training” up front creates “classroom”
       mentality
     • Need to be “in the field” from the get-go
 Get sales management involved
     • Create relationships outside the normal numbers-
       based conversations
     • Mentoring more natural – reps come to
       management with questions
     • Opportunity for collaboration and growth


22
Responsibilities – Orient

Management                    Sales Rep
 New-hire checklist           Learn culture
 Methodology & process        Assimilate into
 Compensation plan             structure
 Manufacturer contacts        Understand portfolio
                                of offerings
 Existing client histories
                               Work with mentor to
 Portfolio knowledge,          achieve goals
  training and skills
                               Accelerate
                                learning curve     New Hire
                                                   Checklist




23
                                                         GROW




   Develop




Cultivating the habits and skills that lead to success
Develop - Challenges

 How do you develop your people?
     • Personal vs. process: Is the development meeting
       their needs, the business‟ needs or both?
 How do you implement the development process?
     • Balance between challenging and overwhelming



                                 Challenge   Overwhelm




25
Sales Management Road Map



     Development

                   Twice-
       Weekly                 Monthly
                  Monthly
       1-on-1                 Review
                 Road Work

            Internal Champion

           Ongoing Assessment

                Consistency



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Weekly

 Goal-setting
     • Specific
     • Measurable
     • Realistic
                       Weekly
 Review
                       1-on-1
     • Conduct
     • Activities
     • Performance
 Mentoring/tracking


27
Bi-Weekly

 Road goals
     • Specific
     • Simple
 Sales skills coaching      Twice-
 Post-sales call review    Monthly
     • Execution           Road Work
     • Account review
     • Skills assessment




28
Monthly

 Overall goals
 Monthly execution
     • Performance objectives
 Activities
                                Monthly
     • Planning                 Review
     • Time management
     • Pipeline review




29
Responsibilities – Develop

Management                  Sales Rep
 Set schedule               Define personal goals
 Assign mentor/             Set road map for
  internal champion           achievement
 Provide:                   Work with internal
     • Dual opportunities     resources to achieve
     • Territory
                              goals
     • Targeted accounts
     • Review                                    Start Up
                                                 Checklist




30
                  SESSION BREAK




End Session One
              SESSION TWO




Session Two
Agenda – Session Two

 Recap session one
 Discuss Life Cycle Methodology
     • Measure
     • Assess
 Next phase
     • Managing change
     • Organizational evolution
     • Responsibilities
 Summary


33
                                          GROW




   Measure




Establishing benchmarks to drive growth
Measure - Challenges

 What to measure?
 Establishing benchmarks:
     • What‟s reasonable?
     • How rigid should they be?
 Consistent unit of measurement
 Percentage- vs. event-based forecasting




35
Measure

 Mileposts – markers – milestones
     • Consistent                              42

     • Challenging
     • Collaborative
     • Clearly-articulated
 Understand your purpose in measurement
     • What do you need to know?
     • What does the rep need to accomplish?




36
Measurement Metrics

 What are you measuring?
     • Demand generation
     • Appointment to close ratio
     • Attach rate: products/services etc.
     • Margins
 Articulate the benchmarks that must be reached
     • Identify the standards and understand why they are
       set where they are
     • Does the rep buy into them?
     • Reassess and recommit

37
Sales Management – Purpose

 Accelerate and augment success
   • Identify stars and challenge them
   • Establish culture of success
 Diminish business impact of their failure
   • Identify and overcome challenges
   • Challenge reps to fulfill expectations
   • Correct and address personnel issues
 Performance management:
   • Clearly define roles
                                              Account
   • Articulate organizational expectations     Plan




38
Responsibilities – Measure

Management                Sales Rep
 Establish benchmarks     Meet benchmarks
 Define measurement       Maintain pipeline and
  units                     forecast
 Consistent               Consistent and
  collaboration with        accurate reporting
  sales management         Meet/exceed quota
 Implement/maintain
  pipeline and forecast
  metrics

39
                                                    GROW




   Assess




Analyzing the metrics to promote positive results
Assess - Challenge

 Maintain objectivity
 Follow through
 Use gathered data effectively
     • Know what data to gather
     • Understand what to do with it once you have it
 Foster positive change
     • Utilize assessment as a vehicle for improvement
     • Maintain flexibility and leverage organizational
       strengths



41
Assess

 What‟s the objective
     • Retain
     • Re-examine
     • Release
 Consistent criteria:
     • Individual gap analysis
 What do you do with the successful rep?
     • Reward vs. promotion
     • Balance individual drivers with corporate objectives


42
Assessment Areas: Theory


                     Demand
                    Generation

                                 Resource
        Targeting
                                 Utilization

                    Mgmt/Rep
                   Collaboration

         Closing                Forecasting

                     Account
                     Planning



43
Assessment Areas: Practice



               Targeting     Demand
                            Generation



     Closing         Mgmt/Rep
                    Collaboration    Resource
                                     Utilization


               Account
               Planning     Forecasting




44
Responsibilities – Assess

Management              Sales Rep
 Gather assessment      Record daily activities
  data                   Utilize internal
 Create action plan      resources to achieve
     • “Next 90 days”     objectives
 Establish criteria     Participate in account
                          review
 Execute action plan
                         Report productivity
 Continuously manage
  and assess


45
                                                               NEXT




   Next Phase




What to do if your investment is paying off… or if it isn‟t…
Next Phase – What Happens When:

 Meets or exceeds established benchmarks
 Shows potential but may need additional coaching
  or mentoring/managing
 Shows weaknesses – remediation needed
 Candidate for resignation/termination




      Have you planned for all the possibilities?


47
Life Cycle of a Sales Representative




                        Develop                 Promote



     Hire     Orient          MANAGE Assess


                                               Terminate
                         Measure


     Begin             Grow                   Next
     RELATIONSHIP




48
Assessment – Toward the Next Phase

                                  Y
                    Performing?

                      N

                      Y
                            Potential?

                          N
                      Assess
                    60d       30d            Develop
                    plan      plan           & Grow



                                         Y
                           Succeeding?


                                  N


49
Termination – Resignation

 Metrics lead you to this conclusion
 Putting the rep “on a plan”
     • Purpose                    Plan Consistency
     • Criteria
     • Objectives
     • Performance                           60-Day
                                  30-Day
 Post-plan possibilities


            Document the Plan - Accountability


50
30-Day Plan: Exit Strategy

 Management by Objective (MBO)
     • Clearly define objectives
     • Set expectations
 Outline plan as a business decision
     • “Take advantage of the opportunity”
 Implement timeline
 Manage/assess


       Goal: Exit strategy from an adverse situation


51
60-Day Plan: Retention Strategy

 Management by Objective (MBO)
     • Clearly define objectives
     • Set expectations
 Outline plan as a business decision:
     • Chance to demonstrate effectiveness
     • Achieve at new level
 Implement timeline
 Manage/assess/revisit

                 Goal: Challenge & Retain


52
Articulating the Plan




1    Agree   2   Verify   3   Input    4   Buy-in
                                           BUY-IN   5   Execute

                 Organizational & Personal Growth




                                                         30 Day   60 Day
                                                          Plan     Plan




53
Managing the Plan

 Weekly* checkpoints
 Consistent documentation
 “Get a second opinion”
 MBOs
     • Are they accomplishing their objectives?
     • Are there any natural inhibitors to success
         Time of year
         Target verticals
         Recent change in overall business strategy

      *As case warrants (more frequent, etc.)

54
Assessing Next Steps

 Execute the plan‟s original intent
 A business decision
 Follow through with consistency
     • Builds process
     • Creates environment of efficiency




55
Responsibilities – Going Forward

Management                   Sales Rep
 Maintain consistency        Maintain performance
     • Plan execution         Enhance knowledge
     • Personnel decisions     base
 Ongoing                     Strive to exceed
  measurement                  expectations
 Periodic assessment         Maintain open
 Challenge reps               communication with
                               leadership
 Goal-setting &
  recognition                 Agree to process

56
      QUESTIONS




Q&A
                  AFV




A Fluent Vision
A Fluent Vision for Success

Walter Santiago
A Fluent Vision, L.L.C.
101 Eisenhower Parkway
Roseland, NJ 07068
(973) 618-9554
wsantiago@afluentvision.com




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