High Sales Attrition Can Be a Major Problem
High sales attrition hurts. Losing any good employee is tough on the overall business and on the morale of those left behind — but when you lose a top solution seller, the consequences can be dramatic. Recent research by McKinsey found that 45 percent of B2B sales organizations face greater than 30% turnover.
The Costs of High Sales Attrition
High sales attrition costs are felt in the loss of customers, loss of revenue, loss of customer relationships and loss of desired customer results — not to mention the productivity delay in getting another salesperson up to speed.
Most studies suggest the cost per departed solution sales rep to be between $500,000 to $1,000,000 depending upon their role, tenure and industry. And those shockingly high figures do not include the time and money you need to spend to recruit, behaviorally interview, and train their replacement.
The Top Three Reasons Behind High Sales Attrition
Here, according to our clients and backed by data from when we assess organizational culture, are the top three reasons behind high sales attrition that cause high performing salespeople walk out the door:
For high performing sales reps, it is about more than achieving quota. It is about making a positive impact on their buyers both personally and professionally.
It is difficult for sales reps to stay motivated and engaged when a deal falls through or a tanking economy undermines their success. But a sales manager who cares and listens can help. An empathetic sales manager opens the door to team members, listens to concerns, and is able to deal with issues before they escalate.
The Bottom Line
Sales cultures are typically different from every other function in an organization. Attracting, developing, engaging, and retaining high performing sales reps can make or break an organization seeking high growth. To succeed, focus on strategic sales clarity, empowerment, and recognition.
To learn more about avoiding high sales attrition and creating a high performance sales culture, download The Research-Backed Keys to Creating a High Performing Sales Team
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