What do you do if your top sales talent is constantly being poached by competitors?

To retain your top sales talent, offer competitive compensation and benefits that can't be matched by competitors. Consider offering unique perks, such as flexible work arrangements, professional development opportunities, and bonuses for meeting and exceeding sales targets. Show your appreciation for their hard work and dedication by regularly recognizing their achievements and providing opportunities for growth and advancement within the company. ????

Some years back when I was a sales officer in FMCG/ Manufacturing industry we use to have an Area Sales Manager who happens to be a sales guru, he mentor and coach the sales team like a sales teacher all the nitty gritty on sales fundamentals and persuasive selling skills are thought a modality of customer satisfaction and retention model. But the Management and the HR has a poor remuneration package for sales team despite the fact fact that Target are been achieved month by month. The day the competitor poach the Area Sales Manger, 70% of the sales team follow him, that was how the company goes down. Therefore, to reduce poaching and constant staff turnover, remuneration, benefit, commission, sales enabler and support should be provided

To retain top sales talent, getting accurate compensation data on a regular basis and filtering this into your compensation planning is key. You may think, and HR, Finance etc. may say you're at market, but are you? There are many good sources of that data and if it’s a consistent problem consider contracting a company that specializes in assessing your plans and making recommendations. With the soft and hard costs of losing great talent, it might be a great investment!

Hay una frase que dice "A VECES SE ENCUENTRAN DULCES EN EL INFIERNO". El sentimiento de equipy de familia en el lugar de trabajo, junto con la compensación, prueba ser clave. Muchas personas buscan un lugar de trabajo en el que se sientan parte de un todo y se dan casos que eso evita fuga de talentos.

To retain top sales talent in the face of competitor poaching, offer competitive compensation, provide career development opportunities, foster a positive work environment, build strong relationships, enhance benefits and perks, implement non-compete agreements, monitor competitor activity, conduct exit interviews, continuously recruit and develop talent, and focus on employee engagement.

To retain your top sales talent, provide regular feedback and coaching to help them improve their skills and reach their full potential. Show them that you are invested in their success and want to help them grow and develop within the company. Offer training and mentoring opportunities, and encourage them to take on new challenges and responsibilities. By providing the support and resources they need to succeed, you can help keep your top talent engaged and motivated. ????

TOP REPS WANT TO BE COACHED... and the biggest miss sales leaders make is once a rep starts to consistently hit quota, the manager decrease the attention to coaching & development they're giving that rep. A lot of the times we need to double down coaching on our top performers to make sure their itch to grow & learn is being scratched...or else we lose them.

Respeto, me resulta clave. Cuando se tiene a un lider que orienta y que muestra entrega, se sigue. Parte de ser lider es identificar como podemos hacer crecer a los colaboradores y el tomar en cuenta lo que opinan. "En la diversidad de opiniones esta el exito"

I have seen many sales people leaving because they felt they were not improving anymore. By providing feedback they can feel they keep growing. And that's priceless!

Once compensation and benefits are addressed, the subsequent step involves conveying to employees why the company is the ideal place for them. While some may seek opportunities for learning, those actively contributing seek a meaningful purpose beyond just a paycheck. It's crucial to provide them with a sense of purpose to contribute towards. Additionally, employees value effective leadership and aim to work under competent managers. If an individual is solely motivated by monetary gain, it prompts reflection on whether such a person aligns with the company's values and goals.

If people feel engaged into the decision making process, it will be more difficult for them to leave, since the level of engagement (and so commitment) is much higher!

Again - listening is the key when you're involving your sales talent in decision making and problem solving. If I think back on my career, what I have learned from others whether from peers or those that report into me, it is monumental. "A good leader talks, a great leader listens "

En una de sus novelas, Gary Jennings escribió "Todos queremos sentirnos el centro del universo en algun momento en la vida" Involucrar a los talentos a tomar parte en las decisiones les hace sentir así

An essential purpose to instill in the team is their capacity and willingness to contribute. When the team actively participates in crafting the strategy and execution plan, they are more likely to remain committed to seeing it through to fruition. The Sales SKO or Quarter Business Review are good events to drive those discussions.

Involve them in solving complex business problems. This can offer intellectual stimulation and a deeper sense of involvement in the business's success, beyond their sales targets.

I'd argue this is way more important than compensation. I mean yea, if a competitor is offering a significantly higher OTE you're going to struggle. But most people want to be a part of something special. The number one reason an employee stays or leaves is because of their direct manager, think about that?? What culture are your leaders instilling and does it make people want to say.

Adding my personal experience here, having an open, honest, and a collaborative team Culture is always taking the team upside. If you and your team share a transparent relationship, you will be able to empower them, help them in problem Solving, and help them grow not just in the role, but also as a professional and as a human being! People work with people, companies are only a platform to being them Together, and if you can connect with your team, attrition will always take a back seat!

Los equipos siempre deben tener diversidad de pensamientos, criticos, positivos, negativos, inquisidores. Entre mas debate hay, por los distintos puntos de vista para encontrar soluciones, mas riqueza se tendra y una mejor solucion se encuentra. Formar parte de una estrategia exitosa es una sensacion que ayuda a sentirse familia

Foster a team environment that values collaboration, support, and mutual success. Recognize and celebrate team achievements as well as individual accomplishments, enhancing the overall team spirit.

Focus on key points like active listening to understand their needs and concerns, creating a supportive and inclusive culture where they feel valued and motivated, and offering opportunities for personal and professional growth are crucial. Sometimes, allowing them to pursue opportunities elsewhere for their own development can ultimately benefit both parties in the long run. It's about finding the balance between retention efforts and supporting individual growth paths.

Apart from financial compensation and a sense of purpose, individuals often prioritize the interpersonal aspect when considering a workplace. They assess whether their manager treats them well, offers guidance for professional development, displays empathy towards their circumstances, and fosters a positive atmosphere where they feel comfortable with their colleagues. Considering that people spend a significant portion of their day - at least one-third or more - working, it's crucial to cultivate an enjoyable environment where employees feel they can grow professionally and receive fair compensation for their contributions.

Offer flexible working arrangements or work-life balance options tailored to individual needs. Recognizing and accommodating personal circumstances can significantly increase loyalty and job satisfaction.

Recognizing and addressing concerns and needs of top talent is a core component of organizational success. As a leader, we have an obligation to understand what motivates employees and welcome feedback. Offering competitive wages and growth is an incomplete strategy. Acknowledging team member concerns and considering ideas is a critical piece of the leadership puzzle. Additionally, providing avenues for work-life balance, acknowledging and rewarding their contributions, and fostering a culture of open communication will further solidify their commitment to the organization. By prioritizing the well-being and professional treatment of top talent, businesses can create a thriving and loyal workforce poised for long-term success.

No se debe perder de vista que cada ser es individual y tiene sus necesidades personales. El respeto a ellas es importante. Un lider que sabe identificar esas necesidades, sin ahondar en lo personal, crea equipo. Hay una delgada linea que se debe mantener.

1: Get the fear of competition out. Play your own game on front foot 2: Conduct exit interviews to understand why talent is choosing to desert you 3: Start interviewing folks from competition to get an insight on what’s that competition is doing better than you. Also find out the loopholes in competition’s offerings. Middle level candidates love to share such insights 4: Those insights will help you prepare right responses as well as offerings. Talk about those insights subtly while interacting with your folks 5: Connect better with your folks at a personal level 6: Treat exiting folks well. If they are genuinely getting a better opportunity, let them go gracefully 7: If someone wants to come back, take them back without any ego

Have a frank open chat with employees who have quit and pick out the top 3 reasons for them to look for a change. Work on this and solve it. There could be many reasons they may communicate - but those are “convincing themselves answers” for quitting and hence they voice it out. Pick up the top 3 and work on it to solve. Once this is done, communicate to the existing employees that this is what you found that was an issue with most people and what the company will be doing in the future to solve for it. This may solve future exits. Above all - don’t forget to show empathy in all the interactions.

When facing poaching of top sales talent, it's a crucial moment for self-reflection. Start by evaluating internal factors that might be contributing to employee attrition. Here's a list to start an internal evaluation of employee retention: 1. Review Exit Interviews 2. Review Employee Feedback Surveys 3. Evaluate Company Culture 4. Evaluate Career Development Opportunities 5. Grade Managerial Effectiveness 6. Compare Compensation and Benefits to Competitors 7. How is Work-Life Balance 8. What Recognition and Rewards do we need 9. What Employee Wellbeing Initiatives do we have By conducting a thorough internal evaluation of employee retention, you can identify areas for improvement and implement proactive measures to boost retention.

There are 4 reasons a good salesperson will stay with a company: 1?? Being treated fairly. 2?? Having a good product to sell. 3?? Recognition of a job well done. 4?? Money. And not necessarily in this order. Fix these four things, and you can go back to running your business.

Having to will to succeed and high sales drive are crucial for 30% group. Skill can be taught, but impact will be minimal without will and sales drive.