Investing in Sales Personnel
An Article by Sales for Life
Replacing a sales person may be the most costly thing your company
does this year. In a typical company the true cost of replacing
a sales person is three times that of replacing a senior manager.
The Society for HR Management reports the actual cost to be US$300,000¹,
when considering lost opportunity, lost sales and learning curves.
Considering product knowledge, customer relationships, proprietary
company specific knowledge, replacement timing, training, typical
productivity/learning curve and impact on the organization; it is
not surprising that most business owners and key decision makers
regularly underestimate the true cost of replacing sales person.
Even more remarkable is the lack of investment in developing professional
sales persons as stated in the most current Statistics Canada figures,
which shows Sales & Marketing training investment at a considerably
lower level than managers, technical trades and even clerical &
administrative staff. In fact the only group receiving less training
investment in Canada is hourly production workers.
Considering the importance of sales in generating revenue and maintaining
profit margin, why is there so little investment in sales training?
And does investment in training lead to improved profitability and
reduced costs?
Many companies hire capable sales personnel that do reach their
targets and produce adequate results. Is it wise to immerse sales
staff in on going training?
Absolutely, regular training not only keeps sales staff ahead of
market competitors, it also pays in terms of higher performance.
How about turnover? Today, more than ever employees consider their
careers and skills development important. Many interviewees today
inquire about advancement and career potential. Investing in training
not only attracts the best talent, it also satisfies an employees
need to grow and develop.
Sales For Life specializes in building great sales teams. Our
customers include companies of every size and shape, including some
of Canada’s best known brands. Our candidates perform at the
highest level, we guarantee it!
Sales For Life
Michael Hudson, CSP
160 Traders Blvd. E., Mississauga, ON L4Z 3K7
Telephone: (905) 502-5512 ext. 4004
e-Mail: michael@salesforlife.ca
“Canada’s Source For Sales Professionals”
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