Challenge of Hiring of New Sales Reps that Succeed You Are Not alone!

As a matter of fact. . . The same challenge has existed for centuries If there was an easy solution; there wouldn’t be thousands of hiring and training “experts” offering their services

10,000 foot view of the situation Open to all suggestions and ideas as we break out into our work groups

Have you seen this at one of your sales meetings?

Generally 3 Hiring Options #1 Proven, successful rep from a competitor, pay a large guarantee while their non-compete is in place, and in the meantime generate new business contacts as best you can. Can we good but difficult to find. #2 Experienced rep that is 35-45 years in age, has family expenses so demands a higher salary, and hope they work out. Most frequent applicants and lowest success rate. #3 Young fresh graduate (1-2 years out of college) or that is working themselves through college and yet to have large expense responsibilities. Lower risk and more trained on technology. Good choice but you have to adapt to the Millennial way of thinking. Generally 3 Hiring Options

Millennials- can they be good sales reps? Yes- and here is why: They entered the market in one of worse economic conditions since the great depression making them hard working and ready to fight for their position. They also grew up in the height of the internet, cloud computing and I-phones so they are easily adaptable to the use of technology in the sales world including leveraging social media for networking and appointments. It’s millennials they will be selling to so they understand what it’s important to the buyer and what your company needs to be offering. Millennials- can they be good sales reps?

What traits they will need help developing? -relationship selling skills(can't hide behind the computer screens) -organization and goal setting skills -a hunger to succeed -a set of problem solving skills which are valued by the customer -an ability to translate the value quality product and quality service over a lower price What traits they will need help developing?

Different Way of Thinking . . . To do this we have to understand a few things about Millennials. Straight commission is a dead option here. We want to compete effectively for the right sales talent and make no mistake, it is very competitive. What do we hope to accomplish: We want salespeople who are good enough to have options where to work, rather than having to “settle” for our job. We want to reward sales achievement appropriately. We want to incent and reward sales achievement. We want to generate a fair and acceptable profit for our companies Higher salary, some commission and bonus for exceptional performance is the new compensation model to consider Different Way of Thinking . . .

Once you have hired them, its time to consider your retiree transition program. . . Mr. David Varsano

Generational Continuity

Aging – Great for Wine…

Your company has grown from the hard work and expertise of those who have dedicated years of service. The people who helped you reach your level of success should be treated with respect. During the difficult time of transition, that respect must be bilateral Transition is not based on age alone. Respect

Identification – Ripe for Transition No/Few New Accounts # of Active Accounts down Fewer inquiries to purchasing New Initiatives not embraced %Profit INCREASE – Prices raised to offset reduced sales They approach you You approach them (and they tell you the truth) Deep tan and low golf handicap Identification – Ripe for Transition

Proactive Approach - Negative If they say “No – I am not..” Rule of thumb: Many salespeople would rather have 100% of nothing, than 50% of something Ask about longer-term plans Set specific goals, observe, and measure Measure last sale date by customer, not YTD $ Make it clear that the transition trajectory gets much steeper post denial Proactive Approach - Negative

Proactive Approach - Positive If they say “Yes I am….” Ask them their plans, goals and concerns Ask them who they want to partner with Company makes final decision Develop mutually agreeable Team, Timeframe and Trajectory Make it clear you appreciate their honesty (news travels fast) Proactive Approach - Positive

Trajectory and Timeframe Months Incumbent Newb 0 – 3 100% 0% 4 – 6 75% 25% 6-12 50% Healthcare TBD 1 Year Transition Months Incumbent Newb 0 - 3 100% 0% 4 – 6 75% 25% 6 - 12 50% 13 – 24 Healthcare TBD 2 Year Transition Trajectory and Timeframe