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Why Companies Struggle with Hiring Quality Salespeople

Posted by Tony Cole on Thu, Sep 30, 2021

Finding and putting the best people in the right seats is the biggest problem identified by most business owners, especially as it applies to critical sales roles.

Here are the 5 most common reasons most companies struggle with hiring quality salespeople.

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#1 Companies outsource their recruiting and the responsibility. Recruiting is something that a company has to own. They can no longer outsource the work and the responsibility. That makes it too easy for people internally to throw up their hands and transfer failures associated with the hiring process to the outsourced firm. If companies are going to improve the quality of their hires, they have to own the process.

#2 There is a lack of a consistent process for constantly searching. Most, if not all, companies make the mistake of looking for candidates only when they have an opening. This leads to many problems:

  • Being held hostage by salespeople with “large books”. Companies feel they cannot do anything about them for fear of losing the “books” since there aren’t any replacements.
  • Feeling desperate to fill a chair with a warm bottom when there is a vacancy. A body,
    anybody is better than no one sitting in the chair (branch).
  • Not replacing underperformers because there isn’t a pipeline of candidates to choose from. The underperformers stay around too long; others know it and realize that they don’t have to perform to keep their job, so overall team production continues to decline.

#3 Companies are not getting quality candidates entering the process. The traditional model of recruiting today is one where the placement firm tries to convince its client why a candidate should be hired. Companies should, on the other hand, work extremely hard to disqualify candidates because there are specific skills that apply for that sales job and many/most candidates do not have those skills. Bottom line, the company has to assess at least two things: 1) Do they have enough of the right strengths to be successful? 2) Will they sell versus can they sell?

#4 There is poor communication about the specific role and expectations of this new hire. Too often, everyone is so excited about putting the deal together (getting the seat filled) that no one takes the time to get into the details of the day-to-day requirements of the job. This leads to early misunderstandings about the role and eventually, failure on the part of the new hire to meet the expectations of the company. Failure to “negotiate on the 1st tee” leads to misunderstanding and failure to execute on the sales goals.

#5 The onboarding process is inadequate. Most companies are ill-equipped to effectively onboard new salespeople. They spend time introducing them to the “culture” of the operation, the mechanics of the job, and how to get things done. They introduce them to HR, their support team, marketing, and their partners. And, yes, there is a discussion about goals, sales activities, and how to enter data into CRM. And then… the new hires are on their own.

Companies think that they have hired their next sales superstar and then, 12 months later, they cannot figure out what went wrong. They look at the numbers and discover that the new hires are producing “just like everyone else in the middle of the pack.” The process most companies have in place currently to recruit and hire salespeople perpetuates this problem.

Click Here for Additional Hiring Tools!

Topics: hire better salespeople, key to successful hiring, sales onboarding

How to Make a Job Offer the Candidate Can't Refuse

Posted by Tony Cole on Thu, Mar 18, 2021

Making a job offer that a candidate can’t refuse, needs to think over, or can use to get a better deal from their current employer can be a difficult task.

In the 8th blog of our series No Assembly Required Hiring, we discuss how to properly set up the offer meeting to help improve the probability of getting a yes from your sales candidate.

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Whenever someone asks me what my favorite movie is, my immediate response is Rocky. What is probably a better movie, and always in the discussion about best movies ever, is The Godfather.

There are so many great and quotable scenes, but one of the most memorable is when young Michael Corleone explains to his girlfriend Kay Adams how Frankie Fontaine became a star because he got a part in a movie that the director didn’t want to cast him in. His response was, “My father made him an offer he couldn’t refuse.”

That is one of the secrets to getting candidates to accept your offer, as well as the following 6 keys. 

  1. Make them an offer they can't refuse. You can only do that if you know what they will say yes to. Here is what you do:
    1. Ask and discuss their criteria that must be met in a new opportunity
    2. Prioritize the criteria. One of the criteria will always be money and associated benefits, title, expenses, contract terms, and conditions. Get all of this out on the table early. Let's call this table stakes. If you can't meet the table stakes, get out of the game. You can't win.
  2. Set the expectations for the offer meeting/discussion. Assume for purposes of this article that you uncovered every single decision-making factor and two things have happened:
    1. They have bought your value proposition on why this is a transformational move that meets their objectives and goals
    2. You can meet all of their criteria
  3. Deal with the incumbent or current employer and rehearse for the counteroffer
  4. Make sure all other contenders are eliminated
  5. Tell the candidate that you are prepared to:
    1. Make an offer that meets their criteria and priorities
    2. Compensate them in a way that meets their financial needs, goals, and objectives
    3. Answer all of their questions
  6. Explain to the candidate that at the end of the meeting, they will be in a position to accept or decline the offer. Then ask, "what objections do you have to that process?"

You can expect any candidate to say something like, “I don’t know how I could accept an offer I haven’t seen.” That is easy. Remember, you have uncovered all of their criteria and prioritized their needs, wants, and objectives. You know what the financial requirements are, and you can meet or exceed them. You’ve made sure that they have compelling reasons to make a change and that change MUST take place. If you’ve done that and you presented an offer that meets all the criteria, what is there to think about?

There are four things they could be thinking about:

  1. They really can’t make a move or don’t want to make the move
  2. They are hiding something about the money or other criteria
  3. Someone has put another offer on the table, and they want to compare
  4. They don’t know if they can leave their current people and or join your people

Deal with these things before you consider making an offer. You will probably still want to make an offer, and you will probably let the candidate think it over. But do your best to follow these keys to make it incredibly hard for them to say no. Worst-case scenario, take a page from The Godfather.

Click Here for Additional Hiring Tools!

Topics: sales talent acquisition, hire better salespeople, key to successful hiring, recruiting sales talent

4 steps to Hiring "No Assembly Required" Salesperson

Posted by Tony Cole on Thu, Jan 07, 2021

Hiring sales talent is often a costly, difficult, and time-consuming task. However, it's mandatory in order to grow an organization and sales team.

In this blog, we discuss how to identify top talent and minimize hiring mistakes by following a 4 step process.

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Hiring mistakes are expensive. Before we dive further into this topic, let's consider the following:

  • According to the Department of Labor, the cost of a bad hire can be as high as 30% of first-year earnings
  • Additionally, the CEO of Link Humans estimated the average cost to be as high as $240,000 plus expenses
  • A study of CFOs said that not only do bad hires cost them productivity, but managers spend 17% of their time supervising underperforming employees
  • Lastly, CareerBuilder reports that 74% of employers state they hired the wrong person for the job

If you have a salesforce of 25 people and 20% of your new hires fail due to lack of performance, the cost can be $100,000.00+. In a conversation with Roy Riley, President of Peel and Holland Insurance Agency, he stated that hiring mistakes are a 2-comma problem.

 

Maybe you are part of the 26% that have not admitted to making hiring mistakes. Perhaps a better piece to read would be this article, What Elite Salespeople Do Better, by David Kurlan.

 

Otherwise, here are four steps that, if followed and executed effectively, will cause you great excitement, create a more positive impact on revenue from new hires and drive a more profitable margin for your business.

Trial the Highly-Predictive  Pre-Hire Sales Assessment

Step #1: Hire for Will to Sell rather than Can Sell  

Most personality evaluations will tell you if a candidate has the personality traits consistent with successful salespeople. This information will tell you about characteristics like building relationships, being solution orientation, etc. 

What you want to know is their:

  • Desire and commitment to be successful specifically in selling
  • Ownership of outcomes
  • Motivation to succeed (specifically what motivates them)
  • Outlook when things aren’t going well

 

Step #2: Hire those that are big, fast, and strong

In other words, hire for specific sales DNA such as:

  • Ability to Recover from rejection
  • Beliefs about selling that support success in sales
  • Not inhibited by their own need for approval
  • Comfort asking about and discussing money
  • Can overcome their own buying beliefs so that they can execute a milestone centric sales approach

 

Step #3: Always be prospecting 

100% of the time, when I ask if a company is pro-active or re-active in their recruiting, they will tell me re-active. Yes, they go into the market and talk to candidates. But hiring people when they don't need them or hiring people that they can’t afford are not consistent traits. Here are my recommendations:

  • Schedule at least 20% of your time to focus on prospecting new sales candidates
  • Have a system in your organization where key people are responsible for setting prospecting activity goals and asking for introductions to other talented salespeople
  • Report recruiting activity just like you ask your salespeople to report sales activity in huddles or sales meetings

 

Step #4: Eliminate variability in the performance of your recruiting process

Too often, companies with a large footprint allow market executives to sway from the recruiting processes established by Human Resources. Companies assume that the local executive needs to have the flexibility to maximize the recruiting opportunities specific to their area. Which is causing ineffective results. Instead:

  • All job attraction posts must work from the same format
  • The first step is always to evaluate the potential candidate using a sales-specific skills assessment
  • The next step is to do a 5-10 phone interview (unless phone skills are not important)
  • The initial interview must operate like an audition
  • Use scorecards for the assessment, phone interview, and initial interview so that decisions to move forward are objective
  • Provide the next person in the selection process an interview guide with key focus points
  • Make offers to only those candidates that are committed to making a transformational career change
  • Prepare candidates to decide at the time of the offer by eliminating think it overs after you present your offer
  • Confirm with the candidate that they are prepared to go through your 3-to-6-month onboarding process in its entirety. No Exceptions.

 

In the next article, I will go through the steps and provide some more detail about each, and share with you how data can help you select candidates so that you can improve your success rate to 92% and grow your business!

Click Here for Additional Hiring Tools!

Topics: cost of hiring mistakes, hiring salespeople, key to successful hiring, sales onboarding, hiring top salespeople

Success in Selling: The 5 Myths

Posted by Tony Cole on Thu, Dec 10, 2020

Selling is hard. Especially with the easy access prospects have to critical decision-making information. However, the struggle often begins with how and what we think.

In this blog, Tony discusses the personal beliefs and myths that often get in the way of a sales persons ability to see greater overall success. 

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There are no secrets in sales! The internet and the digital world have pretty much eliminated any secrets to success in sales, and how to do almost anything else. All you need is a mobile device with access to the internet, and you can find just about anything you want to know.

With facts and strategies being so readily available, why do most salespeople (about 80%) still struggle to be successful? A lot of it has to do with beliefs and myths. What about you? Do you accept any outdated myths as facts? Some may include:

  1. People only use 10% of their brains
  2. There is a dark side of the moon
  3. Behavior is affected by the full moon
  4. Sugar makes children hyperactive
  5. Lightning never strikes the same place twice

So what is the best method to move past the myth and see success? It starts by getting to the root cause of the problem.

As many of you know, Anthony Cole Training Group has specialized in providing specialized sales growth solutions for banking, investment advisory, and insurance. Primarily, those growth solutions include:

  1. Hiring better salespeople
  2. Executing an effective sales process
  3. Sales Management training

During our years of developing and delivering content to hundreds of sales organizations, we have used the #1 sales assessment tool on the planet. Not only is the accuracy of the sales inventory assessment tool unbelievable, but the Sales Effectiveness and Impact Analysis have been a game-changer. One of the most compelling segments revealed in the assessments is about personal beliefs. Each of us has personal beliefs that dictate our behaviors and thus determines our outcomes. This holds true for all areas - sales, sales management, and sales leadership. Whether aware or not, we all have beliefs about what we do that impacts our opportunity for success. 

Trial the Highly-Predictive  Pre-Hire Sales Assessment

5 MYTHS MOST SALESPEOPLE BELIEVE

Here are the myths that many salespeople believe to be fact:

  1. People buy from people they like. Now, you may have purchased something from someone that you like, but that didn’t drive your decision. What drove your decision was your confidence and trust in the person, the product, and the company behind the product.
  2. People make buying decisions based on price. Staying with you and your purchasing habits for a second, let’s talk automobiles. According to MotorTrend, the cheapest car available today is the Chevrolet Spark with a base price of $14,095. If you own one, then you are a rare breed. The volume of sales of this vehicle in 2019 was only .75% of all vehicles sold in the U.S. If people only bought the lowest priced item, this would not be the case.
  3. Closing skills are the most important. This might be surprising to you, but in the last three studies I conducted in the banking segment, the top 33% of bankers, wealth managers, and private bankers who severely lack closing skills still led their teams in sales.
  4. The customer is always right. That is not the case. Due to information access, they're more educated regarding product knowledge, availability, options, and pricing but to assume they are right about everything is incorrect. However, this in and of itself is not the problem. The problem is this; if salespeople believe this, then they will never be gutsy enough to execute the challenger sale, the value-based selling system, the SPIN System, or our Effective Selling System.
  5. Prospects are always honest. 95% of respondents in all of our studies believe prospects are honest. That is until we conduct our first meeting with our clients and go through the process that buyers go through when executing their buying process. If a prospect were completely honest, they would tell the insurance agent who cold-called them that they got a renewal that is too high, and they want some competitive bids to keep the incumbent honest. We all know that doesn’t happen!

TRAINING ALONE DOES NOT GET LASTING RESULTS

Time and again, companies spend money on sales training to introduce them to a new:

  • sales language
  • sales approach
  • prospecting method
  • time management process
  • cross-selling strategy

What happens is that the company spends a lot of time, money, and effort, and yet, at the end of the event or training, they cannot point to any discernable difference in outcomes. Behaviors stay the same, problems that existed before are still there, effort changes for a while but soon returns to pre-training levels and salespeople still blame the economy, the company, or the competition for lack of success.

Top people are still performing at the top, people in the middle of your sales bell curve are maintaining, and your bottom 20% are not performing any better than the bottom 20% you had the year before. Why? Because the root problems associated with these beliefs were never uncovered.

For you, your team, and your organization to see greater success, it's critical to identify, address, and build strategies to overcome the myths or beliefs that are hindering personal growth.

Need Help?  Check Out Our  Sales Growth Coaching Program!

Topics: sales succes, improving sales results, increase sales, key to successful hiring, sales performance coaching

What Recruiting in the “New Normal” Looks and Sounds Like

Posted by Kelly Barcelos on Wed, Jul 29, 2020

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The COVID-19 pandemic has brought about many changes. While some businesses have hit rock bottom, some are thriving and hiring at scale. Businesses in customer care, retail, healthcare, digital marketing, and online training industries are actively hiring because of the new market demands. But unfortunately, recruitment techniques that have been used for years aren’t the same anymore. The need for social distancing has made recruiters and HR professionals work from home, making the shift inevitable. Let’s understand how things have changed.

How has recruitment changed now that COVID-19 is here?

Before the pandemic hit the entire world, recruitment couldn’t be imagined without face-to-face interviews. But considering the criticality of the situation, organizations are adapting to new methods of recruitment to prevent the spread of the virus. Let’s understand how.

Virtual Recruitment: Once a prospective candidate is found, HR professionals are conducting virtual interviews in which the candidates need not visit the corporate office for the interview process. Instead, interviews are happening over video calls.

There are quite a few reliable virtual interview apps that allow scheduling and sending interview invitations, and then interviewing candidates over a video call. Some platforms also allow having virtual job fairs in which several candidates can join a chat room at once and recruiters can get to know them. Moreover, virtual interviews are equally interactive since the HR professional can assess body language, expressions, and gestures, just as they would in an in-person interview.

Candidate Experience: Now that traditional interviews are slowly becoming a thing of the past, HR professionals are going the extra mile to ensure good candidate experience. Here are a few tips that you can also use to deliver good candidate experience if you’re currently hiring:

  • Use consistent content or messaging across all channels to communicate how you’re taking effective measures to ensure the safety of candidates. This will also empower you as a brand.
  • Provide candidate resources that would help them appear in the virtual interview without any hassle. For example, help them get access to the software or give them a simple guide for the interview process.
  • Do not delay interviews hoping that you will soon be able to conduct an in-person interview. Your competitors may take advantage of every minute you lose and it will also have a negative impression on the candidate.
  • Build a landing page to which the candidates can be directed to for answers to questions they may have.

Trial the Highly-Predictive  Pre-Hire Sales Assessment

Applicant Tracking System: Using an ATS (Applicant Tracking System) is one of the most important recruitment techniques if you’re hiring at scale. It will allow you to work remotely and also make sure that you have the “right” candidate. During the pandemic, employers are hiring based on their fluctuating requirements. For example, many are hiring for flexible roles that may change post-pandemic and many are also hiring candidates on a contractual basis. And an ATS will help you screen the applications based exactly on your requirements so that you don’t unnecessarily spend time and resources on irrelevant applications. Moreover, you can also leverage its other benefits, such as:

  • One-click job posting
  • Resumes and applications repository
  • Seamless interview scheduling
  • Automated resume parsing
  • Automated emails and follow-ups
  • Analytics for conversion rate

Remote Onboarding: Remote work has become a new trending order to minimize physical interaction as much as possible. And to ensure safety even further, employees are being onboarded digitally without having to even set foot in the workplace. But this isn’t as easy as it sounds. To make onboarding seamless, you must:

  • Make training is available to new employees so that they can adapt well.
  • Give them some time to absorb all the information.
  • Communicate the organization’s culture to the new employee.

How you onboard a new employee can make a lot of difference since it can make or break the employee experience. Without it, you can’t say that you have made a successful hire.

Avoid common mistakes and form a new recruitment strategy that adapts to the changes as quickly as you can, because how you do it will determine the future of your organization.

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Author Bio:
Kelly Barcelos is a progressive digital marketing manager specializing in HR and is responsible for leading Jobsoid’s content and social media team. When Kelly is not building campaigns, she is busy creating content and preparing PR topics. She started with Jobsoid as a social media strategist and eventually took over the entire digital marketing team with her innovative approach and technical expertise.

Topics: hiring salespeople, key to successful hiring, recruiting sales talent, upgrade your sales force, hiring top salespeople, aquire sales candidates


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    Anthony Cole Training Group has been working with financial firms for close to 30 years helping them become more effective in their markets and closing their sales opportunity gap.  ACTG has mastered the art of using science-based data and finely honed coaching strategies to help build effective sales teams.  Don’t miss our weekly sales management blog insights from our team of expert contributors.

     

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