How To Boost Employee Retention On Your Sales Team
Your sales team is one of the most important assets your company has. These are the people who actively bring new clients to your business. They drive your revenue and protect your bottom line. You need to ensure you retain your best salespeople.
Here are some tips on how to boost employee retention with your sales team.
1. Offer competitive wages and benefits packages.
Your business doesn't just compete with the competition for customers. It also competes for employees. If you want to attract and retain the best and the brightest, you need to offer competitive wages and benefits packages. Find out what the competition offers and make sure your offerings are in line or better.
2. Provide incentives and rewards for top performers.
To drive your salespeople to succeed, provide them with incentives and rewards. This may include commissions and bonuses, but it can also include low-cost perks, such as flexible schedules, premier parking spots, or catered lunches. When your employees feel recognized for their efforts, they become more loyal to your organization, and they want to stick around.
3. Set team goals.
In the sales arena, most businesses set individual goals, but if you want your team to work together, you should also set team goals. When the team has to work together, they become more accountable to each other. By extension, they become more accountable to your organization, and they become less likely to jump ship.
Even more importantly, they help each other out. Top performers start to train and mentor lower performers. As lower performers improve their sales numbers, they start to earn incentives. Then, as explained above, they become more likely to want to stay with your company.
4. Offer career development.
If people feel like they have a future in a company, they're more likely to stay with the company. In contrast, if they know they will never go beyond their current position, they become more likely to leave. Give your salespeople options. Help them develop their skills so they can take on more advanced roles in the company.
5. Give out retention bonuses.
To improve employee retention, you need to directly address it. In addition to giving salespeople performance bonuses, you should also offer them retention bonuses. Show them how much you appreciate that they stayed with your organization.
By improving retention, you get to keep your top performers. Additionally, you save money because you don't have to recruit, onboard, and train new employees.
Schedule an employee retention consultation from a local company, such as Maritz Motivation.