SUCCESS STORIES

Stem Attrition of High Value Sales Staff

SUCCESS STORIES

The client had lost several high value sales executives and management decided to evaluate its hiring, training, performance management and incentive compensation processes for all of its retail sales staff.

• Recent changes had been made in the executive line-up. There was a new sales head and several regional and divisional managers within retail sales were replaced.
• Turnover in the branches was 35% +/-. Training was inconsistently applied by managers in the field who were, themselves, poorly trained and generally unprepared for their own positions.

The President wanted better prepared managers and salespeople, less turnover, productive new hires and a 50% increase in average sales production.

LOBUE RECOMMENDATIONS

Hiring – Adopt an objective, behavior-based hiring methodology to include HR and branch managers.

Training – Adopt an 8-week new hire training matrix to include 2 weeks in a central training location and 6 weeks of in-branch OJT with syllabuses and prescribed training methods and schedules.

Performance Management – Adopt a performance methodology that provides reinforcement to in-house management programs for managers. Require consistent implementation of those methods.

Incentive Compensation Programs – Revamp present plans to encourage better performers to stay.

REAL RESULTS

The implementation roadmap led to a much improved hiring system. In addition, a training matrix was developed for client implementation. Performance management tools were produced for managers in the field and a detailed incentive compensation plan for salespeople and managers was created for management implementation. Program eliminated the personnel crisis and resulted in a year over year sales improvement of 65% in first year. Sales management turnover was reduced and sales personnel with over one year experience increased production by an average of 30%.

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