Turnover on the Sales Team .. and How to Prevent it

The "Leaky Bucket" term is used a lot in marketing to describe funnels that lose leads somewhere in the process.. but what if you have a "Leaky Bucket" within your own ranks?

Let's say you are a #salesleader , #founder , or #CEO

You're looking to scale top line revenue..

You determine that to double your revenue, you'll need to double your sales team

Simple math tells you that the current number of people on your team is the same number of NEW people you need to go out and hire..

One problem.. you have a 20% attrition rate..

Your bucket is leaking!

At 20%, that would mean every 5 years, you will essentially be training up an entirely new #sales team.. that is a massive undertaking! That's expensive

Scarier yet.. in sales, the average turnover rate is closer to 25%

So how do you stop the leak (or at least slow it down)?

Research tells us that there are a few major motivational drivers for #salespeople:

1- MONEY.. this is obvious and can be addressed with proper comp plans.. (hint: us salespeople love accelerators)

2- PROGRESSION.. people want to be growing always, even if they don't tell you. It's important to offer ways for your salespeople to get better. This can be addressed with a badass sales enablement program and mentorship .. (hint: the number one thing I hear candidates reflect on when it comes to a positive experience at a former company is their former boss and it sounds like this "She was a mentor of mine and probably the best sales person I've ever known" So finding the best possible leadership for your team is mission critical

3- RECOGNITION.. research shows us that a sleepy but powerful motivator of salespeople is being recognized by their peers! This can be addressed if looked at deliberately. Build a true sense of community within the team and be sure to recognize those who exceed expectations regularly.

These 3 things will help lower your turnover rate, make it easier to build a world-class #salesorg, and get you to the revenue growth that you are looking for.

Oh, and you'll probably get some better reviews on Glassdoor too.