The Definitive Guide to Hiring Sales Reps
One of the most difficult challenges organizations face is hiring the right sales reps. A single high-performing sales rep can easily be 10-20 times greater than a mid-performer, so decision-makers within the hiring process must provide their due diligence to achieve the best outcomes.
What can we learn, and what can we do to guarantee advantageous hiring decisions? Read our definitive guide on hiring sales reps, and how predictive analytics can help.
The Best Way to Hire Sales Reps
Organizations tend to have significant difficulty navigating how to reliably hire sales reps who are productive, an appropriate fit, and who stick around. They reveal that average annual sales turnover is as high as 25-30%, and hiring and training replacements for people who leave can cost anywhere from $75,000 “to $1 million or more per event,” depending on the industry.
If what they say is true, that “companies typically spend more on hiring in sales than they do anywhere else,” why do so many of us still rely on antiquated, dubious methods for determining hires’ potential?
It just doesn’t work to use the standard interview process to ascertain whether a candidate’s personality fits a vague idea of ‘the good salesperson.’, when interview predictions correlate poorly (25%) with actual job success, and can “actually hurt in hiring decisions.”
Here's what we recommend:
- Break down the market, strategy, and stage of your organization into “relevant sales tasks” to assess job behaviors among potential hires
- Define what you look for in someone’s ‘experience,’ for example, customer type, technology, culture, or sales context
- Use blind selection procedures focusing exclusively on factors that predict performance
- Keeping your organization’s competencies up-to-date as the market changes
That’s where predictive analytics comes in. Predictive analytics uses historical data coupled with current trends to predict future events like employee fit, skill, adaptability, productivity, and retention. And when it comes to equipping predictive analytics to aid in hiring decisions, PerceptionPredict is the perfect tool for the job.
Also, understand that selling effectiveness is not a generalized trait. It’s often a function of complex human psychographic, traits and skills that are unique to individual businesses - which is why our predictive analytics solution is so valuable.
We take a microscope to the ‘sales DNA’- role-specific competencies -of current and prospective salespeople. In our process:
- Our AI delves into the nitty-gritty of what has allowed people to historically perform sales tasks and corresponding job behaviors at a high level.
- We question candidates about the most relevant factors that influence their ability to execute your strategy within the current selling environment.
- We make hiring about sales role aptitude, first and foremost, and let you take it from there
- We let you feed company data into our engine for customized, interactive, and ongoing insight
Our decision support system uses advanced mathematics to cross-reference organizations’ sales data across more than 400 stable attributes that predict individuals’ success or failure based on academic research. All it takes is a participant questionnaire in twenty minutes or less. Then, our predictive intelligence quickly evaluates and quantifies what kind of results each candidate would generate at your company. It goes into comprehensive detail to read future performance indicators like product units, total revenue, transactions per hour, appts per month, and more. Performance Fingerprints literally calculate KPI predictions at your fingertips, empowering you to make the most beneficial hires for your business.
With advanced predictive analytics technology like this available, why continue letting misconceptions, biases, and outdated practices get in the way?
How to Hire Sales Reps
Even with the best knowledge and resources at your disposal, the process of hiring sales reps can still be daunting, especially when just starting out. Here's a step-by-step guide inspired by Inc.com's sales hiring strategy:
- Ask for specific skills and experience. What specific skills and kinds of experience does someone need to succeed at your company?
- Understand their process and their why. It’s not enough to know what they want if you don’t also know who they want to interact with and how. So just ask them.
- Write a stellar job description. Your job description needs to synthesize the information above in a way that attracts the right people to you. Again, specifics are crucial here. Remember that potential employees need to know that you are a good fit for them. Let them know exactly what they will do and who they will sell to ensure an adequate match.
- You likely get what you pay for. Work out how much you can pay sales reps, and how many you can afford to hire.
- Networking and aiming towards highly qualified talent can help you find whom you’re looking for.
- Consider job-specific attributes and sales data from past employment during the hiring process. The more objective data, the better.
- Understand before you buy. PerceptionPredict's performance predictions combined with the steps above increased exponentially the likelihood you are going to succeed. Know how they'll do before you give them a permanent role.
Hire Top Performing Sales Reps with PerceptionPredict
PerceptionPredict understands the biggest problems with sales hiring, and that drove us to create the ultimate solution. Anyone making hiring decisions can trust our proprietary AI to sort through sales data and human performance data because we know what drives success and failure. Our mission is to compile our knowledge about research-proven attributes with your knowledge about your organization to yield unparalleled sales staffing results.
If you’re ready to unlock the hiring expertise PerceptionPredict has in store, book a demo now.