How to RETAIN your Top Performers

There are headhunters out there (like me) gunning for your top performers.

Here’s how you can KEEP them:

1. PAY them like a Top Producer ??

Simple, but overlooked. Let’s use an analogy…

Patrick Mahomes has been mentioned in the “GOAT” conversation lately. He’s definitely on pace given his stats.

That’s why he makes $40+ million a year.

When it comes to top salespeople, cash is king. You need to incentivize them to stay on your “team”. If you’re the Kansas City Chiefs, you’re doing everything you can to keep Patty happy. That starts with pay.

Number one - don’t ever cap a top salesperson’s commissions. Would you ever tell Mahomes NOT to keep throwing touchdowns? Setting an income ceiling on a top performer makes no sense. If you stifle their income, they’ll either look elsewhere or underperform their potential. Both are disastrous.

Second, know your market and don’t skimp out on base/benefits either. While you may have uncapped commissions, top performers do require a certain level of guaranteed income. Make sure you’re competitive on base, and don’t be afraid to shell out a higher base in year one so that they can’t ramp up their business. Don’t expect a top performer to rely solely on your commission plan when you haven’t proven your ability to service their clients’ needs yet.

Last, but not least, don’t CHANGE the commission plan! I’ve had reps with 20-30 years of experience that were loyal

to one company their entire career approach me after being stiffed out of commissions. Don’t let this be you.

Know what your top people make and don’t let that earning potential go down.

2. TREAT them like a Top Producer

First things first, ditch the 5 days a week in-office requirement. Top producers can be trusted regardless of where they work. Give them the flexibility they earned after years of hard work, results, and trust-building.

Second, don’t bog them down with reporting, data entry, and non-revenue generating activities. Top producers are meticulous about their time. If they feel they’re being burdened by too many mundane tasks, they’ll look elsewhere as a means to maximize their earnings.

Last point on this, train your middle management. Micromanaging a top producer never works out is one of the main reasons I see them leave. Give them the autonomy to do what they do best.

3.??SURROUND them with other Top Producers

This one often gets overlooked, but top performers like to be around other rockstars. After all, you are the average of the 5 people you hang around the most. A top producer wants to be surrounded by other top producers that constantly challenge him or her. Most are competitive, and an A player doesn’t want to compete against Bs and Cs all day. Building a TEAM of top performers will let them know they’re in the right place and not get complacent.

Top performers also want to be working for a company that’s going somewhere. If you’re not in growth mode and you don’t have an inspiring mission/vision, don’t expect to retain or recruit an A player.

Bottom line, if you want to keep top performers, keep recruiting high caliber talent and fill your culture with a growth mindset.

Final Points:

As a headhunter of top sales talent in the Metals Industry, I’ve had the pleasure of speaking with some of the best in the business. I’ve successfully recruited sales executives with 8 figure books of business from the Top 50 Service Centers around the country.

How was I able to do it?

Simple, by companies not following the advice above…

If you want to RETAIN your top talent, please don’t take these points lightly.

If you want to RECRUIT top performers, particularly in industrial sales, please reach out to me personally at [email protected]

If you want more advice on how to recruit, retain, and develop top talent regardless of industry, please tune into my podcast, Let’s Talk Talent.

Thank you for reading and best of luck out there.