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Are your top salespeople quietly unhappy? Do you have star performers outside of sales considering a move where they will be respected more than they are currently?
Tasha Eurich's post, titled "Eight Enduring Lessons I Learned From My Clients in 2014" caught my attention particularly chapter number 6 - Keep Tabs On Your Performers. Eurich offers sage advice that you must hear. She shares:
"I am always amazed at how surprised some executives are when star performers leave. Smart executives understand that since their superstars are being actively recruited, they must keep tabs on how they are doing. You can't be so removed from their day-to-day reality that it is a surprise when you learn that they weren't happy. Also, their resignation letter is not a signal to negotiate. At that point, you have already lost them. For your best employees, you have to stay involved in their world. Conduct, or ask their manager to conduct, regular interviews that head off any retention issues as they arise."
Know thy talent
Make sure you know who your true star performers are. A lot of people who believe they are star salespeople are actually sheep in wolf's clothing. Never ever pursue such salespeople and other employees when they threaten to leave.
I have observed that many companies fearfully and almost tearfully chase salespeople who threaten to leave companies because such salespersons have successfully positioned themselves as indispensable.
Study after study demonstrates the power of human bias in the interview process. Add the complexities of relationships, territories, and client engagement and it becomes naturally difficult to objectively evaluate true potential.
My awareness of the potential for human bias and other statistical noise is why I use a valid sales personality and aptitude test with validity backed by brain research to ensure I am getting what I am actually getting. A valid sales personality and aptitude test is my insurance policy. When you know thy talent - the true potential of each of your salespeople, you will make better decisions when a salesperson threatens to leave you.
Engage thy talent
Get to know the people - the souls that drive the wheels of your company forward. This applies to sales as well as all facets of the business model. I cannot underscore this enough. You must slow down to speed up.
Understand that everyone brings their unique behaviours, motivators, attributes, and skills to the table. Every position in your business requires a different mix. Adapt to meet their needs as human beings and the unique souls they are. When you slow down to engage thy talent - you will enjoy a richness in your life you may have never imagined.
Make sure thy talent has no greener pastures to choose from
Your human capital does not have to even go looking for a new job. Thanks to powerful tools like LinkedIn Recruiter, a competitor can find your star employees and identify them practically by shoe size, college attended, preferred experience and then engage them in a dialogue of a future filled with wonder and opportunity.
And you will not even know it happened until it is perhaps too late. If the opportunity your star performer has currently does not have at least the perceived net present value of the promised future opportunity, you will most likely lose him.
The best defence is a powerful offense. Make sure you are engaging and compensating your top talent in a manner that makes it impossible for them to want to leave. They determine what is important - not you.
Money can be matched. It is rarely about the money. Culture and relationships are difficult to match.
The author is Chris Young, founder, The Rainmaker Group. Re-printed with permission.
Link: http://www.therainmakergroupinc.com /human-capital-strategy-blog/keep-tabs-on-your-top-performers
