Sales Talent Management or Beating the Odds for Even greater Sales Success - Oct. 28, 2011

A Learning Session was held on "Sales Talent Management" or "Beating the Odds for Even greater Sales Success" on Oct. 28, 2011.

In yesterday’s learning session, I addressed keys to success for Sales Organizations, and for that matter in any portion within a company.

Overall, Benchmarks help identify "job fit." Harvard had followed 320,000 sales people over a 20 year period and determined that it wasn't education or skills that determined success, but "Job Fit"(Thinking Style[IQ], Behavioral Traits [EQ] and Interests).

Therefore the keys identified in the presentation were:

1)      Benchmark (also called Performance Model or Job Pattern) around top performers, while identifying poor performer’s competencies that are different. This allows you to identify the essential competencies for that position that drive success. These benchmarks need to be position specific, not industry specific. (Do you think your company is exactly the same as another company, even if you are in the same industry with very similar products? The other company(s) are as different as people are. Human DNA is 99.9% the same, it is the 0. 1% that creates the diversity we see each day with the people with whom we interact.)

a.       Ideally you need to use assessments or methodologies that can quickly allow re-benchmarking if new “Top performers” come into the picture and/or as the market needs change.

b.      Have a way to identify Training Needs Analysis (TNA) for those competencies falling outside the benchmarks, in order to help to develop programs for Career Development for individuals and groups.

2)     Use these benchmarks to help screen, interview and validate around these separator competencies in order to identify stronger performers during the recruiting/pre-hire process. The sooner you can bring in new talent around top performer benchmarks, the sooner your organization begins to upgrade. Creating this slight edge, that grows over time, increases sustainability and profitability. It also, most likely, will reduce training costs and speed integration time.

3)      Use these benchmarks for existing positions, in developing career development programs and training needs for their career development plan.

4)      Also, use these benchmarks to identify individuals for succession management plans, coupled with managerial and performance review results. Ideally Performance Reviews are 360 based, and online, to allow complete confidentiality and candidness by those rating the ratee/Manager. Also online, speeds  results, eliminating assembling and analysis time. Most importantly, it helps to maintain objectivity in reviews, and eliminate subjectivity, which increases trust and engagement.

Once these processes are in place, or simultaneously, identify the three ties of Sales Performers in your organization.

Why three Tiers?
 

Because, it has been well established in multiple studies, that in any Sales Organization there are the Top performers, Middling/Average performers and Poor performers. How much are the latter two tiers costing you?

It follows the 80/20 rule, 20% of your sales force is delivering 80% of your sales. (Of course the same also applies to your client mix, 20% of your clients are delivering 80% of your sales and profitability.)

Calculate (via a utility analysis) how much more can be gained if you can develop an Average performer into a Top performer, or a bottom performer to even a middling/average performer. The results can be amazing. If interested, feel free to ask how this can be done.

The slight Edge: In many sports, it is a split second of difference that separates a winner from being second or third. A few years back, there were documentaries on the steps athletes take for these 10^th of a second differences. Swimmers have videos taken showing their stroke techniques in a glass tank versus an ideal stroke. Runners are videoed for motion analysis.  Golfers modify their swings using videos comparing theirs with the ideal (benchmark) swing of efficiency. Business is no different.

If you take these steps not only will your Sales significantly improve, but if implemented throughout the organization, this slight edge gets magnified throughout the corporation! If your competition is doing this, where does it put you? Can you and your company afford not to put into place these kinds of steps and procedures?

The decision is yours and your company’s! Can CEO’s, Senior Managers and companies ignore these in this dynamic global market? It seems highly unlikely that sustained performance can be maintained without these kinds of methods being implemented.