In the world of business, an effective sales team can be the distinguishing factor between companies that thrive and those that merely survive. Our partner, Objective Management Group (OMG), is a renowned name in sales specific assessments and has provided invaluable insights into what makes a successful salesperson and sales leaders and how companies can cultivate high-performing sales teams.
1. The Sales Recruitment Landscape: A Numbers Game
Statistically speaking, the recruitment of salespeople presents several challenges:
- 70% of new salespeople fail to meet their quota in their first year.
- About 50% of sales hires turn out to be a bad fit for the company.
- The average cost of a bad sales hire can be 6-10 times their monthly salary due to training costs, lost sales opportunities, and onboarding.
Given these figures, businesses can’t afford to make hasty decisions in the hiring process.
2. The 21 Core Competencies: A Deep Dive
OMG has identified 21 core competencies that are inherent in top-performing salespeople and these are broken into 3 categories Will to Sell, Sales DNA and Tactical Skills. Their research indicates some of the following statistics:
- Will to Sell: Only about 55% of current sales people have the Desire and Commitment to sell.
- Sales DNA: Over 3/4 of sales people struggle with the proper mindset and supportive beliefs to be effective.
- Tactical Competencies: These very widely, but an example is only 21% are effective in qualifying opportunities or only 27% are able to reach decision makers.
The most alarming statistic? On average, only 5% of salespeople possess all 21 core competencies at a high proficiency level. This brings to light the essential question: How can businesses identify and nurture these rare gems?
3. The Recruitment Strategy: Sifting the Gold from the Sand
- Use Data-Driven Approaches: We emphasizes the importance of data in the recruitment process. Leveraging scientifically-backed assessments can drastically reduce the chances of a bad hire.
- Look Beyond the Resume: While past achievements can be indicative, they don’t always translate to future success. Delve into their mindset, resilience, and adaptability.
- Sales DNA: OMG highlights the concept of ‘Sales DNA’, referring to inherent qualities that predispose one to sales success. These include factors like being able to handle rejection and having a strong desire to succeed.
4. Cultivating a Sales Team: Beyond Hiring
- Regular Training: Even the best can get better. Regular training sessions, especially focusing on the 21 Core Competencies, can sharpen skills.
- Foster a Growth Mindset: Encourage a culture where feedback is welcomed, and failures are seen as learning opportunities.
- Provide the Right Tools: From CRM systems to sales analytics tools, ensure your team has what they need to succeed.
5. The Road Ahead: Embracing the Future of Sales
The future of sales is not just about individual star performers but cohesive teams where each member’s strengths are harnessed. With the changing landscape – think AI, remote sales, and digital transformations – adaptability becomes key.
In this ever-evolving arena, the 21 Core Competencies, as highlighted by OMG, serve as a timeless beacon. As businesses continue to navigate the intricacies of recruiting and nurturing sales talent, these competencies remain the cornerstone for building sales teams poised for success.
For more information or to discuss your particular situation contact us at the following…
www.transformativesalessystems.com
765-623-5623