Because your sales staff is essential to boosting profits and financial health, constantly losing salespeople is really bad for your growing business.
Aside from missing out on earning opportunities, you also lose time and money finding and training new salespeople.
A financial blow may be around the corner if you constantly spend time and money on restaffing.
So how do you keep your top salespeople and move forward with veteran employees who know your business inside and out? And how do you let go of staff members no longer invested in your company?
In this episode of Help! My Business Is Growing; our guest Judy Hoberman gives us her insights on retaining your best salespeople by motivating them correctly and giving them the right kind of recognition. She also gives tips on how to let people go diplomatically.
Timestamps for this week’s episode
- 02:46 What are the signs that there is a problem with retaining your salespeople versus it just being part of the healthy, regular employee turnover rate?
- 13:28 What are some of the other non-financial drivers or motivators for salespeople? What do they like better than anything?
- 14:37 How do you implement this “recognition culture” in their business, especially for salespeople? What are some of the things that motivate them?
- 24:19 What signs or situations might cause you to think about letting your big producer go?
- 32:33 What’s the one step people can take right now or next week to ensure good employee retention rates?
“If somebody is being negative and undermining you, they will destroy your entire team.” – Judy Hoberman
What are the signs of a problem with retaining your salespeople versus just being part of the healthy, regular employee turnover rate?
- Your numbers are really going down.
If your sales results plummet, it might be time to take a closer look at your team.
- Morale is really low.
What’s happening to your team or organization? Is there a big change in the organization?
Your top producer realizes he is too important and begins to act like it, undermining or bullying everyone else on the team.
- Your salespeople might no longer be “present”.
While still there physically, they might have already checked out mentally; maybe their numbers are down, or always complaining, taking sick leaves, and more.
– Observe the “silent” ones or those you don’t know are ready to leave because they’re still doing what they’re supposed to be doing, yet have already decided that your company may no longer be for them.
– Watch out for negative team members. Be careful. Even if the negativity manifests in little things, they may already undermine you and destroy your entire team.
What are some of the other non-financial drivers or motivators for salespeople? What do they like better than anything?
Salespeople love recognition.
They love to be recognized or given citations and awards for their efforts and accomplishments. The respect they receive for their efforts is often more sought after than monetary gains and commission fees.
How do you implement this “recognition culture” in their business, especially for salespeople? What are some of the things that motivate them?
Ask your salespeople what they like and want. Don’t assume everyone will automatically like what you are giving, especially female salespeople, who often get the same things as their male counterparts. Take the time to ask, and they’ll tell you exactly what they want. If you don’t ask, you won’t know. And one size does not fit all; not all men or women may want this type of reward or recognition. If you ask, you know, you’ll get what people want.
“Sometimes people aren’t even in the right spot. But you won’t know if you don’t ask.”– Judy Hoberman
What signs or situations might cause you to think about letting your big producer go?
Let them go if they compromise your core values. If they don’t respect the company values, for example, they have no integrity, don’t work well with the team, or are not kind or generous, then let them go.
Keeping them because they are your top producer will negatively affect your team. They are aware of what is happening and are always watching. When a top producer does crazy things because he thinks he can do whatever he wants because they’re writing all this business, expect the rest of your team to leave eventually.
If you let him go despite his success rate in closing sales, you’ll signal to the rest of the team that you mean business and are willing to sacrifice sales for ethics. This might be the best thing for your business because one will step up to the plate, become the new big producer, and all work with you because they know you’ve chosen them over money.
Engage your salespeople. Engage them in what you’re doing by giving them little or big projects, ask them to support the community, and spread the word about your business.
Let them know they’re part of a team and how valuable you think they are. They will do anything for you if they know you care about them. If it’s all about the money, it will not happen.
- Plummeting sales, low morale, and general negativity are signs that something deeper may be causing a high turnover of salespeople in your organization.
- Some of the best salespeople are not driven or motivated by monetary compensation and commissions alone. They want to be recognized for their efforts as well.
- Ask your salespeople how they want to be recognized or rewarded, so you’re sure they will stay motivated.
- When your top producer starts to exhibit bad behavior or compromise company values, it’s time to let them go, no matter how much sales they bring in.
- Engaging the sales team and letting them know you care about them is the first tangible step to take to ensure you retain the best salespeople.
About guest – Judy Hoberman
Successful Speaker, Consultant, and Entrepreneur
Judy Hoberman and Associates, Selling In A Skirt
Judy Hoberman is a successful speaker, consultant, entrepreneur, and the President of Judy Hoberman and Associates, a company focused on empowering professional women.
She is an award-winning international speaker, best-selling author, trainer, and leading authority on women in leadership. With over 3 decades in business, she combines wisdom and humor with her behavior-shaping insights impacting audiences of thousands as well as small groups and individuals through her 1:1 executive coaching and mentoring and she is often described as “transformational.”
Judy works with companies supporting their diversity and women’s initiatives in leadership, recruiting, training, coaching, mentoring, and retention. She was a TEDx speaker talking about prejudging people.
She is the author of four books, including “Selling in a Skirt” and “Walking on the Glass Floor.” She offers a training program that concentrates on women in leadership and the men who champion them, with an emphasis on redefining culture.
Website – https://www.sellinginaskirt.com/
LinkedIn – https://www.linkedin.com/in/judyhoberman/
Twitter – https://twitter.com/SellingInASkirt
Email – email@example.com
Judy is the author of Walking On The Glass Floor – https://walkingontheglassfloor.com/
The Greatest Missed Opportunity | Judy Hoberman | TEDxTurtleCreekWomen-
About host – Kathy Svetina
Kathy Svetina is a Fractional CFO for growing women-owned businesses with $1M-$10M in annual revenue.
Clients hire her when they’re unsure about what’s going on in their finances, are stressed out by making financial decisions, or need to structure their finances to keep up with their growth.
She solves their nagging money mysteries and builds a financial structure with a tailored financial strategy. That way they can grow in a financially healthy and sustainable way.
Kathy is based in Chicago, IL and works with clients all over the US.