Onboarding New Hires
Onboarding New Sales Hires - Fundamentals
As a sales leader one of the things that drives you is constantly needing to exceed your annual quota. The only way to achieve this is by creating a high performing sales team. There are three key elements to creating high performance sales teams:
1.Hire the right people – hire people with a can-do attitude.
2.Create a Structure & Culture That Allows for Great Work to Be Done – everybody knows their position and what they are responsible for.
3.Equipping the team with the Knowledge and Skills to Work Effectively – from Onboarding to ongoing professional development.
An area that has a profound impact on sales success is the quality of the Onboarding experience for new sales hires. There’s a "war for quality sales people” in the market at present with it taking between 60-180 days to fill a vacant sales role, depending on your recruitment approval and hiring process. During this time, you have vacant sales territories, revenue is below plan and worst of all your competitors are calling on your accounts and stealing your business.
When you finally get your hands on that elusive sales resource that you’ve been waiting for it’s essential you get them productive as quick as possible. Your Onboarding program needs to deliver based on the 3 R’s:
Onboarding starts the moment your candidate accepts the offer. It’s your new hires first interaction with your company as an employee – make a great first impression don’t waste the opportunity. With the average tenure of new sales hires tracking somewhere between 14-30mths what you do next will have a profound impact on the longevity and success of not only your new sales hire also your team’s success. With all the trouble and cost associated with hiring qualified sales talent, you want their integration into the sales team to be seamless.
2. Ramp Time
Ramp Time is defined as how long does it takes for your new sales hire to achieve full sales productivity – able to generate the revenue of a season sales professional. The key to successful Onboarding is to determine what the new sales hire needs to know and must be self-sufficient in doing – to:
• Generate a sale
• Revenue break-even
• Achieve full revenue quota
At Thomson Reuters, we reduced the 9 months ramp up time to 6 months through the introduction of a structured and blended learning Onboarding approach that included, classroom, electronic, buddy system, coaching and practical selling experience. This meant that we achieved an increase of $90k in revenue for each new hire in their first 12 months.
A CSO Insights’ 2016 Sales Enablement Optimization study found that onboarding training services can improve win rates by 14 percent or downgrade them by 9 percent, depending on their effectiveness.
With over 20 years’ experience in creating Onboarding programs for sales teams, at OSS we specialise in optimising results for new sales hires. The guiding principles to a successful Onboarding program are:
By integrating ongoing, quality onboarding training with real-time sales coaching, new sales hires are equipped for ongoing success, the satisfaction of knowing they picked a great company to develop their career, plus the skills and motivation required to exceed their goals.
The results you achieve from your Onboarding program will be evident in both the short and medium term through:
·Stronger Employee Engagement
·Quicker ramp up to full productivity
·Retention of Top Talent
·Exceeding Revenue Growth Targets
Contact us today to learn how we can build you an Onboarding program that will have your new hires hitting their targets quicker.