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The Difference Between Mandatory and Non-Mandatory Criteria in Hiring Sales

Hiring Criteria You’ve heard it before, when hiring a salesperson make sure you have a clear description of your sales needs and a detailed screening process. Problem is, what you know and what you do, are often two different things. Defining mandatory, versus non-mandatory hiring criteria, allows you to find the best sales fit without wasting time and money on non-qualified candidates.

Required employment categories that you may have for job applicants include: education, years of experience, sales training, communication skills, and proficiency with digital technology. Often it’s difficult to find an applicant that is a perfect match for your job description. Decide which criteria are mandatory (must have) and which are non-mandatory (desirable).

Examine the sales lineup you have in place and review what skills are most critical, and what you can live without. If possible have the team benchmarked by an outside party which can identify which traits are common to your reps who consistently meet quota (see www.peaksalesrecruiting.com if you need help doing this).

Every sales environment is different and a mandatory attribute in pharmaceutical sales, may only be a desirable attribute in the technology field. Look back to the most successful reps you employed and dissect their talents and personalities to find common traits, talents and experience. These common factors are what are necessary for the position; the other qualities would be “nice to have.” Also review where there are “holes” in your sales team and use the criteria to balance out the talent. Do you have many educated, mature reps that could use some sales tech help? Make digital technology mandatory. Have lots of tech-heads and need some more formally educated leaders? Make a Graduate degree mandatory.

Rank your “must-have” and “desirable” attributes. Be mindful when creating the list, as too many filters will result in a restricted pool of candidates. Too few requirements will increase the pool, but can leave you with a load of bad matches. Refer to this list when reviewing resumes and during interviews. This will make the selection process easier. A candidate with all “desirable” factors will not make the cut compared to the applicant with a list of “must-have” attributes.

Knowing that you need a filter, and actually creating one, will not only increase your hiring success, it will also save you time and money by not having to sift through applicants that can’t help you. Identifying what you want (and need) for your team will speed up the hiring process and help you find the perfect candidate.

When hiring a salesperson make sure you have a clear description of your sales needs and a detailed screening process. Problem is, what you know and what you do, are often two different things. Defining mandatory, versus non-mandatory criteria, allows you to find the best sales fit without wasting time and money on non-qualified candidates.

 

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Eliot Burdett

CEO at Peak Sales Recruiting
Before Peak, Eliot spent more than 20 years building and leading companies, where he took the lead in recruiting and managing high performance sales teams. He co-founded Ventrada Systems (mobile applications) and GlobalX (e-commerce software). He was also Vice President of Sales for PointShot Wireless.

Eliot received his B. Comm. from Carleton University and has been honored as a Top 40 Under 40 Award winner.

He co-authored Sales Recruiting 2.0, How to Find Top Performing Sales People, Fast and provides regular insights on sales team management and hiring on the Peak Sales Recruiting Blog.

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How “A” Players Interview

"A" PlayerWe all want the best talent. But how can we identify the “A” players versus “a player”? The former will make you money, the latter will cost you.

As a sales manager you need to determine if the person sitting across from you in an interview will be an “A” player. Will he or she be sales talent you can rely on? Will he or she be the next top producer? Will quota be met?

All good questions, so how do you identify your rainmaker in an interview?

An “A” player will be confident. They will proudly brandish accomplishments on their resume. And, they will have verifiable accomplishments. Some of their achievements might be hard to believe, but “A”players can do a lot, with little, and make the money roll in regardless of their circumstance which is why their sales history shows mostly positive results.

I recall interviewing one perennial winner who rang off his annual sales numbers and percentage above quote as well as big contract awards in each of his last 7 years. “A” players know their numbers and aren’t afraid to talk about them. They can tell you their quotas, their income and their sales plan. He or she will also be able to tell stories of how they closed deals and how they turned tough customers into long-term clients.

Since they know their numbers so well, they will also know their worth. You can’t pinch pennies with them. Top salespeople make money for the companies that employ them, so competition for them is tough and the investment is worth the return.

Admitting to your limitations is not easy to do, but “A” players can do it and will happily tell you the truth. They know their strengths and limitations, and tell you what you need to know, not what they think you want to hear.

They will also ask a ton of questions. Many times I have interviewed top reps who wanted to know things like how many of the reps on the team are making quota, how did the person previously do in this territory and why, or how is the company helping the reps sell more.

Her income and career are at stake and she wants to make sure she’ll be set up to succeed. Be prepared for a top performer to ask a lot of questions about the job, the future of the job, and the company.

A true “A” player is an expert in his field and has perfected the craft. Her experience has armed her with an abundance of best practices, and ways to sell better, faster and more efficiently.

Look for this sales gem at your next interview. Give her the job, the goal, support them and then get out of the way.

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Eliot Burdett

CEO at Peak Sales Recruiting
Before Peak, Eliot spent more than 20 years building and leading companies, where he took the lead in recruiting and managing high performance sales teams. He co-founded Ventrada Systems (mobile applications) and GlobalX (e-commerce software). He was also Vice President of Sales for PointShot Wireless.

Eliot received his B. Comm. from Carleton University and has been honored as a Top 40 Under 40 Award winner.

He co-authored Sales Recruiting 2.0, How to Find Top Performing Sales People, Fast and provides regular insights on sales team management and hiring on the Peak Sales Recruiting Blog.

Connect:

Latest posts by Eliot Burdett (see all)

3 Easy Steps to Social Selling

Social Selling for SalespeopleSocial selling; it’s not asking about your client’s weekend or their kids.  It’s about utilizing social media to increase sales.  Do you know how it works and should your sales reps even care?

Sales has always been about doing business with people you know.  Networking and leveraging relationships through meetings, conferences, organizations, etc., has been the traditional path to create connections.  The advent of social media has changed this model. Gone are the days of sitting at your desk “working the phones.”  With Sales 2.0 technology, customers can obtain company and product data long before they meet with you.  Considering the majority of prospects never (or almost never) take a meeting from a cold call or e-mail, progressive salespeople need to know how to go from click to closed.

Whole books are written on the subject of selling via social media, but the basics are pretty straightforward. To begin social selling, you need to understand it.  Social Selling leverages social media in order for you to identify with your customers and their influences.  Traditional techniques are time consuming and limit the exposure a rep can achieve with their client base.  Social selling enables salespeople to expand their reach exponentially simply by using technology that allows them to socialize on a grander scale.

Three Easy Steps to Social Selling for Salespeople

1.     Find out where your customers “hang out” on-line.

Be present in places that are relevant to them, not you!  Visit their cyber haunts (Facebook, Twitter, Linked In, You Tube, Pinterest, etc.) and read their posts, comments and blogs. Add social profiles to your CRM tools.  You’ll be able to learn more from that content than you can from some face-to-face meetings!

2.     Listen, listen and listen!

One of the toughest tasks for a salesperson is to know when to be quiet and let the customer have the floor.   Those silent times allow the client to think and speak, and share info that we desperately seek.  The same principle applies to Social Selling.   Don’t immediately jump on a site and start your sales pitch.  Listen to find out what your customer is saying about themselves, their company, their problems and competition.  Gather even more information by creating Google Alerts for customers and their competitors. Prospects and customers will voluntarily, and publicly, scatter sales clues if you listen actively.

3.    Reach out and make contact.

Leave a message on a wall or share a tweet.  Introduce your customer to other professionals that could be an asset, or share a great link.  When you see that they have a problem you can help with, reach out.  Make yourself available in any medium where they are comfortable; on- line, on the phone or in person.

With Social Sales, intelligence is key. Social media is changing the way people shop, and your salespeople need to know how to engage them. This is the new reality of sales.

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Eliot Burdett

CEO at Peak Sales Recruiting
Before Peak, Eliot spent more than 20 years building and leading companies, where he took the lead in recruiting and managing high performance sales teams. He co-founded Ventrada Systems (mobile applications) and GlobalX (e-commerce software). He was also Vice President of Sales for PointShot Wireless.

Eliot received his B. Comm. from Carleton University and has been honored as a Top 40 Under 40 Award winner.

He co-authored Sales Recruiting 2.0, How to Find Top Performing Sales People, Fast and provides regular insights on sales team management and hiring on the Peak Sales Recruiting Blog.

Connect:

Latest posts by Eliot Burdett (see all)

When Recruiting for Sales People, Know How to Separate Salespeople Vs. Order Takers

Are your best producers sales people or order takers? Which one do you need and can you tell the difference? Would you call the person at the coffee shop a sales person or an order taker? They manage a business exchange between customers and the store (sales), and yet they primarily take orders. Is the clerk who up sells a sales person, or still an order taker? This type of sales confusion can make it difficult to seek and hire the appropriate sales professional. It’s often challenging for an employer to differentiate the roles, and also challenging for reps to properly label themselves. Know what you need – sales vs order taking, (and what you’re getting), before you hire.

Order Taker
The order taker waits for contact from the buyer and the buyer dictates the sale. They respond to RFP’s and react to requests. The order taker is controlled by the customer, and sells in the now. He is adept at describing product features and how the purchase can benefit the buyer. They are advocates for the customer and what the customer demands. The order taker doesn’t actually have to sell; instead they survive on “low hanging fruit.” Their goal is to close the deal and move on to the next call. Marketing a well-known brand in a healthy economy can result in a large income for the order taker.

Salesperson
A salesperson hunts for prospects. He is focused on his customers needs and develops a relationship. The customer is engaged in the sales process and the rep influences the buy. A salesperson has a sales strategy, often selling 6 -12 months in advance. He plans for the future of the customer and the company, looking beyond the here and now. Low-hanging fruit is not perceived as the main course, but rather sales “gravy”. It’s appreciated as an easy win, not a sustainable way to make goal. The salesperson is constantly prospecting, and a top performer will earn a large income in any economy.

Know the difference between an order taker and an order maker. Determine the type of calls and leads you are receiving before you decide on which type of professional to hire. Many order takers pose as salespeople, so make sure you have
a thorough vetting process. A good salesperson can change the course of your business while an order taker chooses the path of least resistance. There is a place and a role for both professions in the sales field, but hiring the wrong talent can
prove disappointing and costly.

 

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Eliot Burdett

CEO at Peak Sales Recruiting
Before Peak, Eliot spent more than 20 years building and leading companies, where he took the lead in recruiting and managing high performance sales teams. He co-founded Ventrada Systems (mobile applications) and GlobalX (e-commerce software). He was also Vice President of Sales for PointShot Wireless.

Eliot received his B. Comm. from Carleton University and has been honored as a Top 40 Under 40 Award winner.

He co-authored Sales Recruiting 2.0, How to Find Top Performing Sales People, Fast and provides regular insights on sales team management and hiring on the Peak Sales Recruiting Blog.

Connect:

Latest posts by Eliot Burdett (see all)

Hiring Start-Up Sales Reps

Start-up sales repsSales people always face objections. Selling for a start up means facing objections and a tremendous amount of resistance. The customer is unfamiliar with the business and has no reason to trust you. You have few (if any) references, no proven merchandise, reputation, or extended track record. The product is usually more expensive and buyers perceive working with you as a risk. In the beginning customers don’t want to speak to a sales person who may not be intimately familiar with the product or service or have the authority to make commitments, so the founder tackles this sales challenge. As the company grows and develops so does the sales department.

Very few early stage companies are started by salespeople, which means very few early stage founders understand sales. Start up sales is evangelical sales. Your reps need to educate the customer about something new and different, and convince them there is a need for the product. Your seller needs to be able to have your clients take a leap of faith.

Tips for hiring start-up sales reps:

This specialized selling requires a specialized rep. Your sales recruiting process must be top notch, should include the use of sales candidate assessments and interview scripts. Startups can’t afford to waste money or make hiring mistakes. Top sales producers from brand name employers are often romanced for the job. The thought is that experienced sales reps will bring in sales quickly and easily. That decision is often costly. Superstars from marquee employees don’t encounter the type of resistance that start ups face. In this environment they will fail. They are accustomed to selling mature products with strong reputations (not to mention they are used to healthy marketing budgets and support staff that a start up is unlikely to have). I learned this the hard way, early in my career when I hired a seasoned rep into one of my startups. One evening, shortly after hiring him, we met in the hallway and he asked me if the office manager had gone home because he needed her to fax a proposal to a prospect. He didn’t know how to use the fax. I knew right then, that I had made a mistake and that he wouldn’t survive in our company.

When you have market share and a proven product, look for your superstar. To get it all started you need a maverick.

The maverick is a breed of salesperson that views challenges as opportunities. They function with little internal help and support. They aren’t sensitive to risk and they can inspire customers. They are fearless! They will expand your pipeline of leads, handle customer relations and create sales proposals while the founder focuses on building the product and running the company.

When hiring a maverick, sell the journey, but don’t pretend it will be easy. It won’t. Finding someone who has already succeeded with an early stage company increases your chance for success. Get the whole team involved with the hiring, because you will all be working closely together. And be very clear about your expectations up front. You are not hiring a business developer that will be an ambassador for your business. You are hiring someone who will generate sales and you will be tracking their activity, funnel and opportunities closely and you will be holding them accountable to a quota even though there is no precedent for sales in your company.

Startup sales people are evangelists, hustlers and relationship builders all in one. Find them and don’t let them get away.

To your success!

Photo Credit: thefoodgroup via Compfight cc

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Eliot Burdett

CEO at Peak Sales Recruiting
Before Peak, Eliot spent more than 20 years building and leading companies, where he took the lead in recruiting and managing high performance sales teams. He co-founded Ventrada Systems (mobile applications) and GlobalX (e-commerce software). He was also Vice President of Sales for PointShot Wireless.

Eliot received his B. Comm. from Carleton University and has been honored as a Top 40 Under 40 Award winner.

He co-authored Sales Recruiting 2.0, How to Find Top Performing Sales People, Fast and provides regular insights on sales team management and hiring on the Peak Sales Recruiting Blog.

Connect:

Latest posts by Eliot Burdett (see all)

Sales Trends from 2012 CSO Insights: Sales Rep Performance

How does your sales rep performance compare with the rep performance of 1,500 other firms spanning numerous industries? CSO Insights conducts an annual study to assess the strength of the sales world and the 2012 report includes an analysis of the 10 key trends of Sales Rep Performance. Check out where you are and what you still need to do to increase your Rep Performance!

  1. Sales Force Turnover – Turnover remained at an all time low of 25.5%. Involuntary turnover (let-go or fired) represented 12.8% and voluntary turnover (rep leaves) 12.7%. At this time companies are spending less time filling those open positions. However, the 2004/2005 studies showed that when the economy recovered, voluntary turnover increased significantly. Prepare for the economic upturn. Your competitors will start hiring again, potentially poaching your reps. Now is the time to manage your exposure for voluntary turnover, as well as plan for your future growth.
  2. Time Spent on Lead Generation – The time reps need to invest in researching accounts and generating leads, has decreased from 24.1% to 19.4%. Salespeople can now find accurate and relevant information from sales intelligence information provided by their employer. The Internet also helps a great deal.
  3. Conversion of Leads to Opportunities – 48.8% of firms surveyed had leads convert to opportunity greater than 50% of the time, compared to 41.7% a year earlier. This increase in conversions correlates with the increased use of sales intelligence, resulting in better leads.
  4. Win Rates – For the first time in three years, win rates have increased. Actual rates of closed opportunities increased to 48.3%, compared to 46.4% a year prior. This increase occurred as both the rates of “losses” and “no decisions” decreased.
  5. Average Deal Size – 2011 did see a rise in the size of deals pitched, however the rise was minimal. It is anticipated that 2012 will see another increase in average deal size.
  6. Formal Process Adoption – More companies adopted formal sales process standards. Of the firms surveyed, 48.7% of the firms utilize a “Level 3, Formal Process” or “Level 4, Dynamic Process.” Sales can identify and adapt to change more quickly, when all reps are doing thing consistently.
  7. CRM Mobile Access – Having access to data quickly and easily is essential when closing deals, and 46.9% of firms surveyed support CRM applications on smart phones. In addition to the Smartphone technology, 40.4% report that tablets are being used by reps.
  8. CRM 2.0 Utilization – The use of Lead Generation Management, Sales Analytics, Sales Intelligence, Sales Collaboration, Sales Knowledge Management, and Incentive Management tools continue to increase.
  9. Ramp-Up Time – Ramp-up time for a new hire is more than 10 months, according to 39.3% of the firms surveyed. This extended length training time continues to be a concern for companies.
  10. Training – 50% of the firms believe that better training, and more of it, is needed in the areas of customer marketplace and purchase justification. Product training is a less critical category with 74.3% of respondents meeting or exceeding training expectations.

Overall these are positive indicators for the sales profession.

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Eliot Burdett

CEO at Peak Sales Recruiting
Before Peak, Eliot spent more than 20 years building and leading companies, where he took the lead in recruiting and managing high performance sales teams. He co-founded Ventrada Systems (mobile applications) and GlobalX (e-commerce software). He was also Vice President of Sales for PointShot Wireless.

Eliot received his B. Comm. from Carleton University and has been honored as a Top 40 Under 40 Award winner.

He co-authored Sales Recruiting 2.0, How to Find Top Performing Sales People, Fast and provides regular insights on sales team management and hiring on the Peak Sales Recruiting Blog.

Connect:

Latest posts by Eliot Burdett (see all)

Sales Management Trends: An Aging Workforce

According to the 2010 US Census, almost a quarter of the population is aged 45 to 64 years old. The median age in more than seven states is 40 years old. Some consider sales a young person’s sport. Salespeople work long hours, travel extensively and have a considerable amount of pressure. What is the impact on sales teams with an aging population?

Salespeople over 50 may seem less desirable to some managers. Fears abound regarding hiring someone “older”. Misperceptions include that senior salespeople are un-trainable and not tech savvy, that they are burnt out, and won’t work hard. The same could be said for a rep at any age. Benefits that a mature rep can offer include entry to C-level executives, a large book of contacts and valuable work experience, especially where complex sales are concerned.

The aging population will challenge us to maintain a balanced team. As our rainmakers age and move out of sales (or retire), we are faced with determining how to maintain a full staff with talent of all ages. With the number of sales candidates ages 25 to 40 entering the workforce growing at less than 1%, younger talent needed to round out the team will be hard to find. Negative stereotypes about sales, coupled with the shortage of younger workers, means competition will be stiff.

It’s time to embrace that aging workforce and use it to your advantage. Talent is talent and truly good sales people will work hard, utilize current technology and deliver results no matter what their age. Those heavy hitters will not be around forever though, so it is important to feed the employment pipeline with junior reps. Match the eagerness of youth with the experience of the senior. Sales training pairs well with mentoring and coaching. Most new salespeople either “learn the hard way”, or give up and move on to a different career. Keep young talent around with an excellent compensation plan, training and support.

The recipe to a great team is tricky, especially when you have a lot of one ingredient, and less of another. The key is to create something delicious without making a bad substitution at the last minute. Demographics are changing. The facts are here. Create a precise plan of the talent mix needed and how it should be combined. Prepare your staffing strategy now to prevent a mistake at a crucial moment later.

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Eliot Burdett

CEO at Peak Sales Recruiting
Before Peak, Eliot spent more than 20 years building and leading companies, where he took the lead in recruiting and managing high performance sales teams. He co-founded Ventrada Systems (mobile applications) and GlobalX (e-commerce software). He was also Vice President of Sales for PointShot Wireless.

Eliot received his B. Comm. from Carleton University and has been honored as a Top 40 Under 40 Award winner.

He co-authored Sales Recruiting 2.0, How to Find Top Performing Sales People, Fast and provides regular insights on sales team management and hiring on the Peak Sales Recruiting Blog.

Connect:

Latest posts by Eliot Burdett (see all)

The Seasoned Sales Hire vs. New Blood (Requires 40 seconds to read)

How many times have you had this debate when you have an open spot on your sales team? Should you recruit a seasoned salesperson that knows his or her way around, or new blood that you can train?

We get asked this question everyday. Unfortunately, there is no easy answer and we suggest you don’t flip a coin (..which believe it or not, is how many people treat this decision) The answer lies within a combination of factors including your go to market strategy, management style, expectations, target client, and of course your budget.

An experienced salesperson may have proven she can sell in your industry and sales environment, but in reality there are probably complications that prevent her from bringing an entire book of business. She may, however, be bringing all her bad habits. The other option is a newbie. He may have raw talent, but time and training will be needed to develop skills and contacts and it may be hard to predict whether he will be successful or not. Plus an entry level person may be just figuring out what kind of a career they want …and experimenting on your dime.

Which way to go? The answer to the question always lies in your business. What does your sales plan dictate? Need immediate results? Or can you afford to train and direct someone new? Will your clients tolerate the inexperience of a green rep or will they demand senior talent? Can you afford to invest in someone who might not work out? Can you hire two entry level sales people to compete with each other, then keep the best one?

Whether you hire a junior or experienced rep, the presence of a selling methodology, and the right support will go a long way to making them superior performers.

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Eliot Burdett

CEO at Peak Sales Recruiting
Before Peak, Eliot spent more than 20 years building and leading companies, where he took the lead in recruiting and managing high performance sales teams. He co-founded Ventrada Systems (mobile applications) and GlobalX (e-commerce software). He was also Vice President of Sales for PointShot Wireless.

Eliot received his B. Comm. from Carleton University and has been honored as a Top 40 Under 40 Award winner.

He co-authored Sales Recruiting 2.0, How to Find Top Performing Sales People, Fast and provides regular insights on sales team management and hiring on the Peak Sales Recruiting Blog.

Connect:

Latest posts by Eliot Burdett (see all)

Innovation in Sales Compensation Strategies

Innovation in Sales CompensationChanges in the economy have resulted in many businesses reviewing compensation expenses.  The sales commission budget – traditionally the largest cost- is often under scrutiny.

Can that expense be lowered with a new incentive calculation process? Data shows that 75% of organizations with 1,000-2,500 employees currently determine commissions using spreadsheets. This approach can lead to overpayments on bonuses and commissions, increased risk of error, loss of time, and inaccurate readings of data.

This often-complicated procedure can be simpler and more exact with the use of Incentive Compensation Management (ICM). ICM simplifies compensation management while offering a wealth of information.

Loading data into a spreadsheet is time consuming and allows for a high margin of error.  When the spreadsheet is complete, you are left with a commission amount and not much else.
Incentive Compensation Management delivers accurate payment facts, as well as direct correlations between compensation and performance.  You have the flexibility to change the plan duration (monthly, quarterly, annually, etc.), re-calculate commissions with new parameters, and have multiple quotas or multiple forecasts. The most current figures from sales, finance and HR are included without the manual collection of records or modification of formulas. Data is obtained automatically combining the information quickly and accurately.

Yes, there is an expense with an ICM, but with proper use you will almost immediately experience cost savings.  Since you are no longer working with complicated spreadsheets, compensation plans can be modified easily and correctly.  With access to sales performance versus commission paid, you can monitor sales trends, quota performance, and attainment distributions using real-time dashboards and reporting. Current incentives are easily visible and sales teams are able to determine their actual and projected commissions.  Questions regarding the payout can be done through Incentive Compensation Management and communications are directed to the appropriate parties.  All inquires and responses are also traceable, allowing for transparency with the process.

At a time when organizational efficiency and effectiveness are of great importance, Incentive Compensation Management establishes payroll as a seamless business process.  A decrease in errors combined with an increase in productivity promise that ICM offers the highest financial return in the shortest amount of time.  Limited effort will be spent researching and resolving sales disputes, and with precise sales incentive calculation your team will exert less energy checking on their pay, and more time selling!

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Eliot Burdett

CEO at Peak Sales Recruiting
Before Peak, Eliot spent more than 20 years building and leading companies, where he took the lead in recruiting and managing high performance sales teams. He co-founded Ventrada Systems (mobile applications) and GlobalX (e-commerce software). He was also Vice President of Sales for PointShot Wireless.

Eliot received his B. Comm. from Carleton University and has been honored as a Top 40 Under 40 Award winner.

He co-authored Sales Recruiting 2.0, How to Find Top Performing Sales People, Fast and provides regular insights on sales team management and hiring on the Peak Sales Recruiting Blog.

Connect:

Latest posts by Eliot Burdett (see all)

The Markets are Dropping.  Is Sales Compensation Dropping as Well?

We get a lot of questions about whether sales compensation is sagging in light of the economy. The simple answer is no, sales compensation is not dropping…for the reliable performers.

The detail behind the answer involves looking at supply and demand. The model of supply and demand is the backbone of price determination in a free market. Demand refers to the amount of product or service that is desired from buyers. Supply represents the amount of products or services provided.  The ensuing philosophy dictates that price is a reflection of supply and demand.   With high unemployment creating a large amount of candidates and low supply of jobs, it would make sense to believe that the price (salary) would be reduced as well.

In the world of retail the example might look like this.   Your favorite band is having a special concert.  Because there is a surplus of concerts, the supply and demand market has determined the acceptable ticket price among buyers is forty dollars.  So you plan on paying forty dollars.

In the job market overall, the same theory looks like this.  With employers hurting financially and receiving hundreds of applicants for a single open position, hiring managers can offer lower salaries for available jobs.   You believe you can offer a lower salary too.  It’s a buyer’s market for talent, right?  Let’s take a closer look.

You go to buy a forty-dollar ticket to the concert and you can’t find one.  While forty is the standard price for most shows, this is an exclusive performance with limited seats, so these tickets are one hundred fifty dollars.  With only a limited supply available, and demand high, the longer you wait for tickets the more expensive they will get, if you can get one at all.  Demand has increased for the tickets and so has the price.  Your choice is to pay less for a lesser show, or pay more and invest in the top performance you desire.

Hiring the best sales talent is like buying a ticket for the concert. Overall, there are plenty of salespeople to employ, just like there are many concert tickets available to purchase.  However, you don’t want “any ticket” or “any salesperson,” you want the special one, the best.

Twenty percent of all salespeople make eighty percent of all sales. Want cheap?  Bargain hunt low performers, and get yourself a down-market deal. Want gold? Dig for the top twenty percent and pay what it takes.

Don’t be fooled by the economy.  The market may be dropping, but the desire to hire talented sales performers is increasing.   Demand is high and supply is low. If you think you can offer a drop in salary, be prepared for a drop in sales.

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Eliot Burdett

CEO at Peak Sales Recruiting
Before Peak, Eliot spent more than 20 years building and leading companies, where he took the lead in recruiting and managing high performance sales teams. He co-founded Ventrada Systems (mobile applications) and GlobalX (e-commerce software). He was also Vice President of Sales for PointShot Wireless.Eliot received his B. Comm. from Carleton University and has been honored as a Top 40 Under 40 Award winner.

He co-authored Sales Recruiting 2.0, How to Find Top Performing Sales People, Fast and provides regular insights on sales team management and hiring on the Peak Sales Recruiting Blog.

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