Technical
Predictive Performance Reports increase revenue and reduce cost of sales
The ability to predict performance, particularly in such a critical role as sales is vital to companies in today's ever more competitive and cut throat marketplaces. The failure to hire the right people, or a lack of ability to identify the right people to develop can literally make the difference between thriving, surviving or business failure. Your sales team is now recognised as mission critical and rightly so - the difference between surviving and thriving can be as little as 0.1 on the performance predictability scale. Why, because the reward for getting your assessments more accurate is huge.
Take even an advanced current predictor of 0.4 compared to the 'Fit for' predictability level of >0.5. What this means is that you will get 10% more of your sales team performing to an optimal level, resulting in increased revenue and reduced Cost of Sales. Additional benefits accrue from reduced costs of recruitment fees, reductions in wasted management time amongst other savings. Additionally, you get improvement in sales performance from your sales team, resulting in Competitive Advantage. Why? The maths is simple.
40 out of 100 sales people perform well from what is seen as good recruitment practice today, whereas more than 50 out of 100 perform well when assessed through a 'Fit for' report. This means 10% less wasted recruitment fees; 10% less wasted management time; 10% more of your sales team performing effectively so, most likely 10% more of your target customers spending with you. So to summarise, Revenue up by 10% or more*; but costs of hiring, costs of management; and salaries paid to ineffective sales people are down 10%.
IF you compare this to interview only hiring and development, the difference is staggering. 15 in 100 sales people perform at an optimal level when recruited through interview only, compared to better than 50 in 100 when assessed through a 'Fit for' report. Yet, over 90% of companies still recruit, assess and develop their sales teams based solely on 'informal' unstructured interviews.
Even better, you do not need to be specially trained to deploy the 'Fit for' reports in your company.
If you like what you read - call SalesAssessment.com today on +44 (0)207 078 8818.
Here are some performance improvement facts achieved during our extensive testing program:
An insurance company found that sales people selected using a 'Fit for' report earned 11% more commission Medical sales people selected using a 'Fit for' report earned 16% more commission A major business to business automobile company saw overall top line revenue grow by 8% in 12 months
Take a look here at a sample 'Fit for' report (Source SHL)
