ProActivate Pearls provides you with up to date, pertinent information and tips that you may utilize in your everyday leadership tasks.
Star Search
Even the most judicious sales leaders are often tripped up in the hiring process. That can be because they are not accessing the right talent solutions resources in the first place. Here are a few tips on ways to make sure the “star” interviewed can deliver once hired:- Don’t Cut Corners – When it comes to adding sales talent, sales leaders want it done yesterday, but that can be a serious mistake. The amount of time invested in a thorough qualification process is far less than the cost of a bad hire.
- Don’t Vary the Process – To be clear, every candidate should receive the same scrutiny, so the hiring process is on a level playing field. Ask the same questions, submit candidates to the same test, and have them meet the same people.
- Don’t Trust the Resume – Don’t just rely on a person’s experience and credentials. They could be exaggerated, misleading, or the result of a selling situation where the rep simply got lucky. Moreover, a great sales person is more than just the revenue he or she generates – their personality, emotional drive to succeed, and other personal traits are equally important.
The Importance of Competitive Compensation
One of the biggest challenges a sales leader faces is retaining valuable team
members. One way of ensuring your
valued team members feel challenged and fulfilled
is to keep their pay competitive.
In a recent poll among corporate sales executives, 83% indicated that they
predict increases in revenue of up to 50% in 2005. Of those sales leaders interviewed,
47% of them plan on increasing headcount to achieve those targets, while 12%
of those will increase their staff by as much as 30%. The successful sales
leader must not only ensure qualified headcounts are achieved in a timely fashion
but also be cognizant of competitive salaries in the market place. This is
the best plan for short, medium and long term growth to see that revenue goals
are achieved. Here is a quick summary of sales compensations for 2004. Your
industry will, of course, vary:
| Total Compensation | Base Salary | Bonus Plus Commission | |
|---|---|---|---|
| Executive | $145,978 | $96,774 | $49,204 |
| Top Performer | $155,055 | $83,443 | $66,612 |
| Mid-Level Performer | $93,499 | $59,389 | $34,110 |
| Low-Level Performer | $64,990 | $45,624 | $19,366 |
