Episode 14: The Talent Lifecycle is Broken in Sales with Alex McNaughten & Scott Freeman
Feb 06, 2023
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In episode 14, we are going to be talking about challenges with the sales talent lifecycle, and what you as a sales leader or business owner should be thinking about and taking action on as you're hiring, onboarding, and developing your teams.
When you hire a salesperson, it is essential to have a proper process to get them up to speed, there are some key parts of that that we will dive into in this episode because there are some numbers, and the numbers aren't great at the moment.
Numbers have been getting worse over the last two years so, it is more important than ever to take action on this issue.
If you look at the sales talent lifecycle, which is everything from hiring, onboarding, coaching, developing, promoting, retaining your salespeople, and then having to do more hiring, numbers don’t really stack up.
At least 72 days will go by from the point you put up a job ad to the point you'll have someone starting in your team. Needless to say, it is quite slow at the moment, and I think a lot of businesses are feeling that pain around filling roles.
In some cases, it's actually longer than that. A lot of companies are doing a very reactive type of recruitment. They will try for 30 odd days to find someone, and then they might come to us or an agency, and that might take another two to four weeks, and then they've got the notice period on top.
That's almost 80 to 90 days! it's definitely a major problem.
Then, if you look at the onboarding time, it takes on average three and a half months for a sales professional to get not up to full performance, but to a level that is acceptable. After that, typically, you'd be looking at anywhere from seven to 12 months before that person's really firing, and they're really hitting or exceeding the target.
As if that wasn’t bad enough, currently, the average retention time for a salesperson or a sales professional is 11 months, and that's come down, it was 13 a couple of years ago.
As you can see, this is a big problem, and it only seems to get worse as time goes by so, listen to this episode to understand what is causing it and to learn what to do in your organisation when you’re looking to hire someone so that you can do things better.
Bear in mind that in the current market, we are massively short of good talent so, all the stages are so important that you get right and it has become more important than ever to always be recruiting, to get your process right when you're interviewing, and then when you get them on board, to look after them. Look after them for the long term. Make it a great experience!
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