Top sales and marketing professionals are always in demand, even during periods of high unemployment; largely because their skills can be easily adapted from one sales environment to another. Losing top sales and marketing professionals to a competitor or a more lucrative sales opportunity can be a blow to your company. Turnover is never something to be taken lightly.
The Very Real Cost of Loss
Hiring any new employee is a significant expense, regardless of whether the employee leaves voluntarily or involuntarily. Many formulas calculate the cost at roughly 200 percent of the departing employee’s current salary.
The Reason for Leaving
It’s important to gain an understanding of why your top sales and marketing professionals are exploring other opportunities. Are their sales quotas unrealistic? Is their between-sales compensation enough to live on? Or do they just think they can earn more elsewhere? Once you know what’s driving them, you can begin addressing the issue.
The Fix
A significant number of sales and marketing departures can be attributed to mistakes made during the selection and recruitment process. The bottom line is, if you hire the wrong person for the job, they will leave. And that’s where teaming up with a staffing partner can help. They can step in as a specialized extension of your HR department.
Why Specialized Recruiters Make the Difference
A “specialized staffing partner” means someone who specializes in your industry; they have well-established professional networks and candidate pools, including passive candidates. And discovering the right candidate at the right time should never be left to a job-board lottery; it requires access to an existing pipeline of verified, available talent.
How to Hire Effectively During Times of High Turnover With a Specialized Staffing Partner
- It all begins with finding the right candidate at the outset. It’s the single most effective way to reduce employee turnover.
- Top sales and marketing professionals work hard for your company, so be prepared to offer appropriate compensation and benefits for their efforts. Your staffing partner will provide current industry data on relevant pay packages to help you determine the best compensation offer. You’ll also want to check in with your staffing partner annually to make sure you’re staying current with employee expectations.
- Being flexible can go a long way when it comes to keeping employees happy on the job. Look for opportunities where you can consider a compressed schedule or telecommuting options. Your staffing partner can help you devise a game plan, based on industry expectations, and improve employee retention.
- Having a clearly defined career path will not only help you keep the staff you have, but will let you bring in junior sales and marketing professionals that will keep your company on the cutting edge of industry trends.
Remember, your specialized staffing partner is a specialist for a reason – they don’t just know the industry, they have a passion for it. Your dedicated staffing partner knows all the players and where to turn for the best talent, and they’re putting all that knowledge to work for you.
Are you having trouble finding and keeping top sales and marketing professionals? Want to learn more about how partnering with a specialized recruiter can help your company? Then get in touch with the team at Morris Bixby today.