ismm innovation roadshow

ISMM Innovation Roadshow

London - 20th MarchCardiff - 21st MarchManchester - 27th MarchBirmingham - 28th March

Sales Talent Pool Management

Hugh Stafford-Smith

If we were going to hire .......

What sort of sales role would it be ?

Instant Buddy/ RelationalGuru

TelesalesNetworker

Hard Seller/CloserLone Wolf

ConsultantOrder Taker

Sales Talent Management

A Snapshot of Sales in 2013

Today we have a surplus of ‘similar’ companies, employing ‘similar’ people, with ‘similar’ backgrounds, coming up with ‘similar’ ideas, producing ‘similar’ things, with ‘similar’ quality and ‘similar’ pricing! Funky Business, Kjell Nordström and Jonas Ridderstråhle.

What the Buyers say:

67% of Buyers said salespeople are only poor to fair in establishing their needs.

64% of Buyers said salespeople are only poor to fair at matching solutions to their real needs.

Tack 2012

“I hate the current trend of people pretending they know me (when they don’t); claiming to have spoken to me before (when they haven’t) being all friendly and familiar (how are you today?) and talking to me as though I am stupid (which I’m not).”

What the Board says

CSO Insights 2013

2012

2013

What Sales Organisations say

They need to improve...

• Farming additional revenue from existing clients – 47.2 %

• Ability to sell value – 42.6 %

• Cross Selling and up Selling – 47.9 %

• Consistently hiring successful sales people – 43 %

CSO Insights 2013

The Reality ?

60% of revenue is generated by 20% of the team

80% of the team generate just 40% of the revenue

Three Pillars for Growth

Growth

StructureProcess

Talent

GROWTH

The Case for Assessments

Who here : finds sales talent management exciting?

Who here : has used psychometric profiling? : HiringDevelopment

Who here : finds them useful?finds them invaluable?refers back to the assessments? – Regularly

OccasionallyNever

Hiring Manager need Improvement.

No Assessment Tool

Hiring Manager exceeds expectation.

No Assessment Tool

Rep Turnover 27 % 10%% Reps fully productive <6months 35% 43%

% Reps fully productive in 7-9months

29% 11%

Hiring Manager need Improvement.

Assessment Tool used

Rep Turnover 30 %

% Reps fully productive <6months 36%

% Reps fully productive in 7-9months

28%

The Case for Assessments

Dow Jones CSO 2013

When you put an assessment tool in the hands of a manager whoexceeds expectations in hiring successful reps and compare with Those who need improvement the differences are profound

CSO looked at the hiring of successful sales people

Two groups of sales managers: Those who need to improve Those who exceeded expectations

Hiring Manager need Improvement.

No Assessment Tool

27 %Rep Turnover

% Reps fully productive <6months 35%

% Reps fully productive in 7-9months

29%

Hiring Manager needs improvement

Assessment Tool used

Hiring Manager exceeds expectation

Assessment Tool used

Rep Turnover 30 % 10%

% Reps fully productive <6months 36% 46%

% Reps fully productive in 7-9months

28% 42%

5 Key Ingredients

Role Based Assessment

Role Based

What is a High-Performer?

Benchmarked

The Performance Difference

Benchmarked

Role Based

Solution Selling• Behaviour (Comfort)Sales ConfidenceSales DriveListeningMaking ContactBuilding DesireCreating OptionsPresentingClosing the Sale• Critical Reasoning (Ability)Numerical Critical ReasoningVerbal Critical Reasoning

• Skills (Capability)Communicating & Working with PeopleDelivering & InnovatingUnderstanding & Managing in BusinessProposition DevelopmentRelationship ManagementCustomer EngagementBenefit RealizationWork Mode

Competencies Measured Sales Manager• Behaviour (Comfort)LeadershipPlanning & OrganizingPersuasiveProblem Solving & AnalysisOral CommunicationsCommercial AwarenessAction OrientationInterpersonal SensitivityResilience• Critical Reasoning (Ability)Numerical Critical ReasoningVerbal Critical Reasoning

• Skills (Capability)Communicating & Working with PeopleDelivering & InnovatingUnderstanding & Managing in BusinessBenefit RealizationOrganization & People ChangeBusiness Planning & StrategyManaging the Customer Engagement Process

Account Manager• Behaviour (Comfort)Sales ConfidenceAdaptabilityListeningDeveloping a Game PlanMaking ContactBuilding DesireCreating OptionsSatisfying the customerManaging and Growing

• Critical Reasoning (Ability)Numerical Critical ReasoningVerbal Critical Reasoning• Skills (Capability)Core Business skillsEngaging the customerDetermining customer needsDeveloping the PropositionEvidencing the BenefitsNegotiating and Closing

Sales Performance Insight Suite

Sales Performance Insight

Not Comfortable

Key Skill out of Range

Sales Performance Dashboard

Sales Performance Dashboard

The Skills Report

The Motivation Report

Feedback Training / Candidate Feedback

Review Findings & Conclusions

Consolidate & Create Management Info

Deploy Invites and Complete Assessments

Scope / Role Mapping / Comm. Strategy

Deployment – 5 Step Process

Feedback from Candidates & Managers

“This has made us all look in the mirror.”

“A very worthwhile exercise.” “Your consultants were excellent change agents for facilitation.”

“You couldn’t scam the system.”

“We should incorporate thisInto our appraisal process.”

“It is important what we do next.”

“Even the sceptics turned around.”

“The consultants allowed dedicated time that wasn’t cancelled, for frankand open discussion.”

“I may not have supported thisat the start, however I am fullybehind it now.”

Innovative?

On-line Tool: Sales Specific - Role Based – Benchmarked by role

One tool for a key element of Talent Management:

Hiring – Development in current role- Succession Planning

Changes the balance of relationships - Manager to Sales Person through Feedback

Cuts the time to delivery of data when compared to traditional process by 80 % +

Brings forward time to action……brings effective customer engagement forward

ROI: Development - Cash Neutral 2% of candidates select resignation

Development - saves significant cost as plans are focused on need not “sheep dip”

Hiring – cost of induction + ramp up (cut by average of 3 months) reduced

Questions & Answers

Sales Talent Pool Management

Hugh Stafford-Smith +44 (0) 207 078 8818hstafford-smith@salesassessment.com