It costs more than you think
So… how much does it cost to hire a new employee? That question is obviously tricky, but there is significant investment behind the hiring process. It entails a lot more than just a base salary and commission. Hiring is expensive!
Just because hiring is expensive, it doesn’t mean that it’s not worth it. More often than not, when we speak to business owners and sales representatives, we have discovered a major piece missing in the “hiring” puzzle; the lack of a good training or onboarding program.
Frequently we hear, “they are in sales, they should know how to do it.” Just because you know how to drive a car, doesn’t make you a professional race car driver. Everyone needs specialized training, even if you have a background in the particular area. Each company is different. Processes may not be the same. Expectations are varied. Company dynamic is unique. Sales goals are contrasting. These are just a few reasons why an onboarding program would be effective with somebody that is “in sales.”
- You can reduce the time it takes to get them to break even and then to profitability.
- Your sales representative will feel valued.
- Invest in your team by teaching them who to target and why, how you’re different from your competitors and finally pricing.
By creating an extensive onboarding program, you give your staff the confidence to do their job well. Ultimately, it saves you money AND time. Investopedia recently posted a great article on The Cost of Hiring a New Employee. The numbers will more than likely surprise you.