Archive for category Sales
Written by Maitri Meyer, September 1, 2017
Talent Shortage Facts
- Globally, 40% of employers report having difficulty filling positions states ManpowerGroup’s 2016-2017 Talent Shortage Survey.
- There were 76 million people born between the years 1946 and 1964. Numerous sources have confirmed 10,000 Baby Boomers are turning 65 every single day, and this is expected to continue into the 2030’s. The Boomers filled (or still fill) the highest levels of leadership.
- There are 30 million less Gen X’ers (the generation after the Boomers), which creates a major gap in leadership and experienced talent.
- Succession planning is still not common place, especially in smaller companies. Various sources over the past 5 years reported between 30-60% of companies have not done any succession planning. Likewise, few companies invest in identifying and developing their high potential employees.
- Many employers are still cautious about increasing their W2 employee count after the 2007 recession forced layoffs and terminations of those they considered family.
3 Talent Shortage Solutions
- Recruit New Talent: Given the talent shortage and skills mismatch, recruiting new employees is not as easy as it used to be. Significant strategy and investment is often required to be even moderately successful. Creating a new position is weighed very carefully and is often denied.
- Retain and Train Current Talent: Lifetime career employees are no longer the norm. We have all heard facts such as: Average tenure in a job is less than 5 years; average workers will work 12-15 jobs in their career; and only 30% of employees are engaged at work, 50% are not engaged and 17% are actively disengaged. In addition, personnel costs typically account for 15-30% of a financially stable company’s budget. The cost of turnover is obviously staggering. Clearly, the best investment is to train and develop current employees. If the skills being learned will be required on a regular basis or to move up in the company, the investment is even more critical.
- Outsource Talent: Hiring independent contractors is a low-risk strategy that many organizations are embracing. In fact, this trend expanded significantly after the recession. Given healthcare and additional benefits add 30% to every employee investment, avoiding those costs results in a low investment per manhour. For short term, skill-specific or project work it becomes a no-brainer, outsourcing is by far the most economical tactic to fill talent gaps.
As the demand for off-site contracted services skyrockets, the supply of remote workers, advisors, consultants, virtual professionals, freelancers, overseas call centers and virtual assistants has kept pace.
What Exactly is a Virtual Professional? How is it different from a Virtual Assistant?
A virtual professional completes his/her work remotely as an independent contractor. Areas and levels of expertise can vary greatly including highly specialized consultants, project managers, individual contributors or administrative support. Oftentimes, virtual professionals are hired on a project or other short-term basis. Side note: Some fun labels for virtual professionals include Digital Nomad, Freedom-preneur, and Suitcase Entrepreneur.
A Virtual Assistant (VA) is a sub-set of the broader category of Virtual Professional (VP). Most VA’s provide administrative support to take routine tasks off the plates of busy executives. They can be hired via numerous online service providers, typically for $6-$40/hour.
In addition to carrying out the tasks, VP’s can also help determine what is needed and recommend the best resource (oftentimes a VA!) At Actually DONE, our VPs are highly accomplished (20+ years of experience), reliable professionals that recommend strategy, define scope, and complete your on-demand projects when you have a skill or bandwidth gap in your organization.
We specialize in bringing business skills to positive impact organizations to fulfill their mission-critical projects on time and on budget. Contact us to discuss how we can cut your To Do list in half.
Written by Maitri Meyer, March 31, 2017
If everyone knows we are selling ourselves all the time, why are sales professionals not demonstrating their sales strategy and techniques during interviews? Perhaps we are not giving them the opportunity by continuing to ask them a series of traditional recruitment interview questions!
Beyond Features & Benefits
Any effective seller knows sales has radically changed since the features and benefits era. Purchasers expect the vendor to have done their research on the prospective customer’s company and situation prior to the first meeting. A salesperson that arrives not fully briefed on the company’s history, products and services, key decision makers, recent news and current business challenges will not impress. In fact, they will probably annoy and most likely not get a second meeting. Decision makers are busy and expect the sales people to be able to ask a few key questions to clarify the problem, decision making process, budget timelines and then make recommendations and outline next steps.
The 1 Sales Rep Recruitment Question
Likewise, a competent sales expert should be able to demonstrate their sales strategy and technique during the recruitment and interview process. Thus, only question required during a sales rep interview is:
You found a company you would like to work for as an Account Executive, but you do not know if they are hiring and do not know anyone in the company. Please explain how you would sell yourself to me as the ideal sales rep for my organization.
If candidates begin detailing their skills or experience, stop them immediately. If there are other indications this is not an ideal fit, politely end the interview. Explain your company only hires sales people that understand sales is 100% about providing value. Therefore, until the research and probing have been done to fully understand the customer’s situation, no attempt to align offerings should be made to solve an assumed challenge. Diagnose before prescribing is my favorite sales metaphor.
Sales people are used to initial rejection and the best trait of any potential employee is the ability to receive guidance with dignity, learn and improve. Candidates that are most impressive will reflect on what was said and then persistently and professionally attempt to re-open the door over a reasonable amount of time.
If you are compassionate and see potential, you might realize this is an excellent teaching moment. Hand them a piece of paper with the request typed up and offer them 15 minutes to reset and think about how they would approach a sales call with a key prospect:
You found a company you would like to work for as an Account Executive, but you do not know if they are hiring and do not know anyone in the company. Please explain how you would sell yourself to me as the ideal sales rep for my organization. Describe your research process, cold call approach and be prepared to role play the in-person first meeting with me.
Did the candidate prepare?
Obviously, the best indication of a person’s future behavior is past behavior. If the candidate did not prepare for your interview by doing the research on your company, will s/he take the time to do so with your prospects? If not, this will be the last time the applicant will schedule an interview without treating it as if it were a crucial sales call. Teaching moment accomplished!
The proof is in the pudding. If all of the key ingredients are used, in the right amounts, with the right timing you will have a delicious outcome!
If your organization needs assistance recruiting talent or any marketing or business development related tasks, please evaluate Actually DONE for virtual professional project assistance.