There are some interesting findings from a Glassdoor survey that describes the intentions of account executives when it comes to staying with their current company vs looking for new selling opportunities.
Two-thirds of sales reps will be looking for a new job in the next year and almost half will be looking in the next quarter.
These are some pretty interesting statistics. It probably starts you thinking about the talent on your team and their mindset. The good news is …
Three of the top five workplace factors that cause reps to leave a company are directly influenced by YOU — their first line manager or executive leader.
Let’s take a look at these factors that can be FLIP’D into your favor.
Schedule 1x Per Month Career Conversations: A recent study that was conducted at a Fortune 500 software company asked new hired (or promoted) first line sales leaders to ask their inherited teams two simple questions.
What amount of capacity do I give my manager on a daily basis? (0-100%) and …
What one thing can my manager do (for me) to allow me to be more productive and deliver more capacity on a daily basis?
Overwhelmingly sales executives want more help with “Career Development and Personal Coaching” versus all the other stuff managers do, like drive revenue, run the business, support customer meetings, etc etc.
You’re missing a huge opportunity to keep seasoned rep’s if you’re skipping the career discussions and always having business (pipeline / forecasting) conversations.
Ask the extremely simple question:
What are your career aspirations here at the company?
Is it to exceed in their current role? Move into management ? Change roles? Change business units? Take on more responsibility? If you don’t ask this early and often, you will learn about this during the exit interview!
Set up recurring calendar invites with the single agenda item of being: Career Growth Conversations … and stick to it! Don’t forget to document these as part of the FLIP’D framework
Proactively Present Career Growth Opportunities: Scan your company’s internal job postings and share the opportunities for career growth with your team. Are you looking for potential management promotions and sharing these with the 30% of sales reps looking to move into sales leader roles?
Get proactive and keep them in the company versus a management role in our competitors. Reality is, account executives are looking now, so you mind as well help keep them selling for you.
Get Your Team into the Recruiting Game: One of the most ingenious ways to win hearts and minds, is to have your rep’s recruit HARD for you!
Meaning, if they refer personal friends and colleagues there will be a higher propensity for them to stick around and make sure the new hire is successful. Think about having them mentor new hires (I”m sure you are doing that now) — but outside of the team too!
Having the sales rep’s put skin into the “people pipeline game” is key. Tactically, schedule 2x per month “People Pipeline” sessions, just like you would for revenue and forecasting. Walk through the business unit’s open headcount and recruit as a team for all positions, not just on your team. As they say in the Navy … “Ship, Shipmate and Self.” Think about the well being of the company first and placing quality people is paramount.
Finally, Number Four
Up-Skill Your Coaching Process: Are you using all the amazing tools at one’s disposal provided by the company to coach your teams? FLIP’D is one of the most effective coaching frameworks to drive success. Think about using the FLIP’D tools in your next 1:1 as guidance to reach meaningful progress with your sales reps.
The Bottom Line
Stay focused on what your front line sales team members are really asking for —– which is career development and personal coaching. Hopefully you will nurture exceptionally amazing talent and the company will keep them in the family producing revenue for many years to come!