- Sales mis-hiring continues to remain at epidemic levels, even as knowledge about, and tools for, effective hiring continue to grow. Depending on whose research you read, annual attrition rates among B2B salespeople range from 25 to well over 40%. Those numbers include those leaving their sales positions voluntarily as well as involuntarily. (Here are two of many sources: Peak Sales Recruiting and DePaul University.)
- Sales leaders rarely seem to understand the ROI of installing, implementing, and employing a formal sales hiring process. “We don’t have the time,” is the most common objection. Here are my own calculations over many years of delivering these services: For each hour invested in building and using such a process correctly, the risk of mis-hiring is reduced by between $20,000 to $40,000 per hour of your time. That’s based on a $500k cost of a bad hire.
In order to consolidate comments from readers and followers into one place, I’m trying something new here, folks. If you’re interested in the rest of the list, please find it here, on LinkedIn.
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Graphic source: genesishrsolutions.com