Can’t Keep Your Top Sales Reps? Is it You, or Is it Them?
Today, Xactly released new data about the best ways organizations can lower sales turnover and raise performance. The research – co-sponsored by Xactly and The Sales Management Association – found that a lack of professional development and higher compensation are the two top reasons reps leave sales jobs voluntarily. The top findings are summarized in the infographic below.
- Less than half of sales leaders are satisfied with sales rep retention.
- Organizations consider less than one out of five sales reps added in the past 24 months to be successful.
- Average time for a salesperson to ramp to full productivity is 12 months.
- Average cost of replacing a sales rep is $115K.
- By developing more “A” players with ongoing training, organizations can generate more revenue.
- 71% salespeople leave voluntarily in a given year.
- Only 42% of companies say they’re effective in training and coaching salespeople.
- Companies that pay at the 75th percentile or higher have 50% less turnover.
- Companies need to invest in ongoing, formalized, and personalized training and coaching processes to lower sales turnover.