Are you challenged with capturing more market share as the leader within your organization?
Does your team have the right stuff or is the economy the “true cause” for flat or decreasing sales?
Are you pushing to stay ahead of the competition, keep solid profit margins, and continue to see an upward trend in sales growth?
To boost sales we need to boost our employees. According to the principle named after the Italian Economist, Wilfredo Pareto, 20% of our high performers often bring in 80% of our business. As a result, you, as a decision maker may be challenged with having to invest in your 20% more and let go of your lower performers.
However, what if you could capitalize on 100% of your sales team and see results from all of them? Would you be interested in finding out how?
Talent Management is the key to unlocking each of your team’s unlimited potential. We sometimes make hasty decisions to let go of good employees that may lack the high performing skills in sales. Instead, if we step back, assess our teams and determine each person’s strengths and reasons for workforce behavior we are in a better position to make an informed decision. The ultimate goal of Talent Management is to improve business results. If we take the time to understand the attributes and behaviors of each team member, we can structure a development plan that will move each person along the “proper career” path that suits them and creates positive outcomes for your organization.
What are the proper steps to boosting employees’ performance?
1. Create a strategic plan that has SMART goals.
2. Leverage technology to help your organization assess, track, and record the performance of each team member.
3. Consider a blended approach to implement a cost effective professional development plan
a) first, look internally at your resources, then partner where it makes sense – do what you and your team do best and consider using outside resources where you don’t have expertise
b) develop a mentoring plan
c) align your training with your strategic goals and make it easy for employees to participate in Instructor-led and eLearning delivery methods
4. Train for business results. Start by evaluating your team’s talent management assessments and succinctly communicate with each member their results, as well as beneficial options to continue in sales or coach them towards a new career path “within your organization”. Accentuate the positives and the value each member brings to the organization.
5. Develop a long-term, world-class talent management program that embraces ongoing professional development.
Implementing these steps will allow your organization to reap the following benefits:
- Increased retention within the organization
- A higher level of loyalty amongst your teams
- A succession plan
- Increased performance
- A team with solid, confident morale
- Lower turn-over and associated costs
- An increase in the organization’s profit margins
If you cannot measure it, you cannot manage it. Continue to clearly communicate the organization’s strategic plan, be specific with regard to how each team member plays a significant role towards achieving the strategic plan, discuss “what’s in it for them”, always show respect, and outline how you will measure your team’s success. Growing and leveraging talent within your organization will lead to a stronger, more unified group that consistently understands the values set upon them and the expectations outlined. Furthermore, this approach will lead to an “empowered” workforce that is best aligned to their capabilities; thereby, increasing the number of high performers across the organization exponentially. As a result of more high performers your organization will be poised to stay ahead of the competition, gain more market share, and win more business.