Talent Management

A Case StudyThe names have been blinded to protect the previously underperforming

Website Email Phone

www.salesbenchmarkindex.com info@salesbenchmarkindex.com 1-888-556-7338

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What is Talent Management?• Identifying, hiring, onboarding and developing A player sales

reps & managersWhat does a Talent Management program do?• Provides the ability to evaluate current talent, new candidates

and gaps in sales rep & manager onboarding What does it mean to implement Talent Management?• Hire only A player candidates and support the shortest ramp

to full sales productivity

Overview

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Three key client business objectives of Talent Management:

1. Hire- “A” players2. Get the reps productive quickly3. Identify potential and develop current

performers

Objectives

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ACME Corp. Business Challenge

Initial Sales Performance Benchmark reveals Talent Management related issuesNo Divisions examined were hitting their number

Division A Division B

Division C

DivisionD

Division E

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Acme Talent Management Results

Overall talent shift in the sales force moved from 63% to 91% for “A” and “B” PlayersTopgrading approach identified and hired top-performing talentNew OnBoarding program brought new reps to full productivity much sooner than previouslyACME Corp. is approaching World-Class status for quota attainment

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Success Equals?

50% Talent +

50% Performance Conditions

Success Equals…

50% Talent+

50% Performance Conditions…

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So…. What if you had ALL “A” Players?

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Improving the performance of:

1 “B” Player to “A” or

1 “C” Player to “B”

= Increased sales 1.5M to 3M widgets/year

@ $3 / widget = $4.5M to $9M/year per representative

Business Impact of improving rep performance

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Pote

ntial

Performance

C+Underperformer

Use PIP to capture ProblemRedeploy or Dismiss

B+Diamond in the Rough

Emerging Leader Development Plan & Coach

A+Star Power

Invest heavily in developmentReward & Recognize

CRed Flag

If <90 days, PIPIf >90 days, Dismiss

BCompetent

Solid Performer12-18 months to move up/down

ASuperior Performer

Very strong in current roleGive stretch assignments

C-

Career Liability (Yours)

Dismiss Immediately

B-

Fading PerformerNot worth further investment

Move to ‘C’ status and issue PIP

A-Valuable Contributor

Strong fundamental but not willing/able to advance

Ensure adequate reward

Low High

Low

High

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Identify Current Talent Pool

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Talent Assessment Results

37% “C” players & 53% “B” players on total scoreSeveral transfersLittle to no onboarding program19% “C” players for competencies & 35% on accountabilitiesSignificant gap in core selling skills (41% “C” players)Opportunity to raise “B” players & some “C” playersProviding sales tools, onboarding, coaching and structured approach

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Assess Individual Competencies and Identify Skills Gaps

Area Individual Competency DefinitionRating (1 - 6)

Benchmark (1 - 6)

Gap

1. Sales ApproachHandling different sales scenarios; setting agenda; following complex sales process guidance; presenting company value propositions

4 4.5 (0.5)

2. Pricing MethodsDemonstrating grasp of those methodologies relevant to the business; applying different pricing techniques to proposed solutions; ensuring sales reps are following corporate pricing guidance; frequency of requesting pricing exceptions

3 3.9 (0.9)

3. Opportunity Management

Managing pipeline; inspecting Opportunities; accelerating campaigns; demonstrating deal ingenuity; providing deal-based ideas

3 4.4 (1.4)

4. Objection HandlingHandling competitive, price, resource, and risk challenges to proposed solutions; presenting responses to objections; gaining prospect/client acceptance to proposed solutions

4 4.8 (0.8)

5. NegotiatingUses give-get frameworks; representing company interests; leaving clients, partners, and prospects with feelings about how a deal was obtained; Convincing others of the merits of a position; achieving win-win

4 4.6 (0.6)

6. Customer FocusDevelops uniquely strong customer loyalty; low-to-no customer attrition; key account executive contacts will go to bat for him/her; generates repeat business more than peers; his patch has high customer satisfaction/NPS scores relative to peers

3 4.2 (1.2)

7. Convert Strategy to Tactics

Developing tactics to implement internal corporate sales strategy; linking customer strategic goals into solution; embeding customer strategic goals into customized sales collateral

4 4.2 (0.2)

8. Managing ProcessesAdopting company policies; utilizing CRM system; adhering to sales process; understanding sales methodologies; defining handoffs; measuring process output; providing specific governance and guidance around process adherence

4 4.3 (0.3)

3.6 4.4 (0.7)

Selling Skills

Competency Scoring compared to World-Class BenchmarkGap to “A” Player status

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Competency group results

Analysis reveals significant gaps

across group

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Recommendations

Coach & develop Sales Managers utilizing the IDPsFormalize training; avoid the ad hoc training Reinforcement is the key to improvementAddress areas of weakness

Implement a sale manager training & onboarding program (certification)Develop a Sales Manager developmental program as part of the ACME succession planning (certification)Incorporate specific ramp to full productivity metrics (fail fast)Raising B players to A’s

Upgrade or turn over B and C playersDevelop of virtual bench of candidates

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Implement Topgrading Talent Review process

#1: Review Competency Definitions

#2: Ask Scenario-based

Questions

#3: Compare Response

against A/B/C Player

Characteristics and rate it for

each Competency

#4: Identify which

Competency items have

largest gaps and select

them for the IDP

#5: Enter in the IDP the specific “Evidence” of the deficiency

#6: Select the Career Action Planning (CAP) item that best matches the

Sales Manager

#7: Insert the CAP item into the IDP and

add Measurement and Timeframe requirements

#8: Review IDP with employee

Provide an Individual Development Plan (IDP) with development

recommendations

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Movement among ranks

Percentage of ‘A’ Players increased from 10% to 28%Percentage of ‘B’ Players increased from 53% to 63%Percentage of ‘C’ Players dropped from 37% to 9%..... And many of those people turned over…

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SBI implemented Topgrading methodology to hire the right people

Cost of a mis-hire is between 5-9X total annual compensation

Click here for our Cost of Mis-hire calculator

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• Ramp time to full productivity = the time it takes for a new employee to retire quota at a rate that exceeds 100% of their goal (usually measured in months)

…and developed a solid onboarding Plan…

Improvement equals hitting quota sooner

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Learn More

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Phone - 1-888-556-7338

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