Tuesday, 16 May 2017 | Tuck Mixon
Despite this huge performance gap between Top and Bottom Salespeople, smart people continue to hire weak salespeople. Traditional Sales Hiring Processes only have a 50% success rate (often even lower!) because their flaws result in Small Candidate Pools filled with Bottom Performers. The video details the hiring mistakes. Here are the common flaws in sales hiring:
- Compensation Mismatch
- Subjective Job Requirements
- Standard Job Ads
- Traditional Interviews
- Imperfect Judgement
Thursday, 11 May 2017 | Tuck Mixon
One key part of building a strong sales force is hiring top salespeople consistently. Sales hiring is important because traditional sales hiring causes millions in lost revenue. Traditional sales hiring methods have a low success rate: typically 25% to 50%. A recent study of 50 sales forces * showed that the top half of the sales force produces 159% of quota and the bottom half produced only 49%. For most companies, this means that hiring a weaker, bottom 50% performer costs between $500,000 and $2,000,000 in revenue.
Tuesday, 29 March 2016 | Tuck Mixon
Monday, 21 March 2016 | Tuck Mixon
You know that top salespeople produce way more business than bottom sales people. And when you do the numbers, you might be surprised how big the difference is.
A recent study of 50 sales forces found the following:
The top 50% of salespeople produce 326% more net new revenue than the bottom 50%. On a million dollar quota, that means top salespeople produce $1.1 million more annually than bottom salespeople.
This difference matters because most companies only hire top salespeople 50% of the time. The good news is you can increase your hiring success rate from 50% to over 90%.