Employee retention is a critical affair, particularly in sales and marketing. For most firms, fighting attrition is a top priority for HR and supervisors, and there are a wide variety of strategies to approach this. In addition, businesses have to consider sales power, branding, whether or not they are sending the right message to their clients and much more on top ofretention. This can be overwhelming for companies, and is why many turn to advanced training and advocacy to boost the efficiency, prowess and job satisfaction of their sales and marketing personnel.
Is high attrition affecting sales numbers? Is retention directly related to productivity? Could attrition be affecting the overall quality of performance from remaining employees? These are all questions that firms need to ask themselves.
Among enterprises that have invested in assistance with sales and marketing retention, some stand out above the others. One MP3 player manufacturer was able to boost its own market share in the MP3 markets by focusing on improving its employee training. The firm managed to increase customer attraction, reporting that 41 percent of consumers that entered retail locations to purchase competitors’ MP3 players were converted to the company’s brand.
One leading information technology corporation is another prime example of a firm that boosted its image and efficiency by turning its eye on employee retention. By enlisting in outsourced sales and marketing training, the firm was able to reduce its part-time employee turnover to 59 percent, versus the industry average of 110 percent.
With customizable training strategies and assisted sales optimization, many firms are able to focus on overall improvements. Enhanced performance and workplace growth are leading causes of retention, while slow sales and poor returns can cause dissatisfaction and therefore attrition. For many businesses, increasing retention will have four primary effects on overall operations:
Boosting job satisfaction
The most immediate result of fightingattrition will be increased employee satisfaction across the board. As workers quit or are fired, this puts increased stress and workloads on other professionals, which affects everyone. This can reduce sales figures, brand reputation and overall profits. By improving retention firms gain a major advantage in having happier, more interested and productive workers who are willing to put more of themselves into their work and ultimately, are more loyal to their employer.
Increased sales effectiveness
Making sales personnel more productive and effective at their jobs will boost satisfaction and profits. This can be accomplished by providing bonuses for top performers or offering improved benefits, but ultimately it also comes down to the expertise of the sales professionals themselves. With improved training or assistance, employees will be better at their jobs, which will help them feel more successful and, as a result, happier with the work they are doing.
Improved brand reputation
Workers who care about their jobs and put forth more effort will provide better service to customers and consumers. This will improve a company’s reputation, which in turn means more sales. This applies to marketing as well, as better marketing personnel will ensure that a brand is properly represented every time. This will promote a stronger relationship with target demographics and optimize ROI across the board.
Growing market shares
Perhaps the most obvious and advantageous result of improving sales and marketing team retention is a boost to market shares. As firms do better business with a growing number of customers, their control of the market will increase. This will provide a company with a stronger position to launch new products from and the ability to spread to new demographics with ease.
In the end, investing in improved sales and marketing solutions will help firms ensure their brand and image is properly represented, and their profits grow as a result.