Hire and Retain your A-Team: Let Data be your Guide
This blog post is part of a five-part series that will answer critical business questions that are top of mind for all Sales leaders. This first article will examine how you can discover if you’ve hired top talent, and what you can do to keep those ‘A’ players once you’ve built out your high-performing team.
The role of a Sales Manager or Sales VP is not an easy one- if your team doesn’t hit its goals all eyes are on you, and the closer you get to the end of the quarter, the more pressure you feel to make numbers or face the repercussions. This is why it’s so important that you are able to quickly identify whether you’ve hired the right reps, and that you are able to retain your rock stars.
Xactly Insights™ uses real, empirical industry data to reveal best practices around incentive compensation to drive your sales reps to new levels of achievement. Leading companies think about incentive compensation as a powerful way to change the behavior of sales people, not just as another tool. Xactly Insights allows you to make this switch in your mind-set so that you can make the most impactful decisions possible around this large investment.
Hiring sales people is tricky, they might have a great track record at their previous company, they might interview well, but once they’re actually part of the team it’s challenging to discern if you’ve put the right people in the correct roles and if they are performing as well as they could be. What if you could have a complete view into how your team is doing compared to peers in your industry? What if you could discover if your reps are hitting quota as often as your competitors? Xactly Insights can answer all these questions and reveal if your sales people are at, above, or below average for your space.
Our data showed that 74% of quota carrying reps in the Communications space do not reach their goals. Without this data, a sales leader in this space might assume his team is the only one consistently missing numbers, and would be in the dark about how to improve. With ten years of empirical data as your guide, you now have visibility into your team’s performance that was previously impossible, allowing you to know whether you’ve hired people that are meeting or exceeding industry standards.
Let’s say you’re reading this article and thinking, I’ve already put together my A-team and I’m happy with their performance I just need to keep them. Xactly Insights can help you hold on to those top performers by building intelligent plans that drive the specific behavior you’re after. For example, do you know how your biggest competitors are paying their sales people? Are they achieving more because they haven’t capped commissions? Is their pay mix more or less variable than yours, and is it moving the needle in ways you wish you could at your company? With the data-backed benchmarking that Insights provides you can ensure that your plans are competitive for both your industry and your peer group, and make the changes that will make your organization’s compensation as competitive as possible.
The Sales Department is the heart of any company, and to keep it healthy and flourishing you must hire and keep the right people. Find out more today about how Xactly Insights can change the way that you hire and how you compensate your sales reps.