Data-Driven Hiring – Using Science to Build a Winning Sales Team

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    23-Aug-2014
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Perhaps the single greatest key to sales success is hiring the right sales people. Get it right and you can accelerate sales. Get it wrong and you waste a lot of time and resources, and miss closing important deals.

Transcript of Data-Driven Hiring – Using Science to Build a Winning Sales Team

  • Identify Optimal Salespeople
  • 2 Before we get started #SalesAcceleration Q&A Console Resources Poll Webinar recording and slides
  • 3 Who is Brian Wixom? 20 yrs. teaching & coaching baseball Scout for Atlanta Braves New InsideSales.com sales executive 500% quota
  • 4 How to identify baseball talent?
  • 5 How to identify baseball talent? Compared to Avg. Human Eyes 12% faster Ears 10% faster Attention & Quickness 1.5X
  • 6 How to identify baseball talent? If baseball-club owners take the hint from the Ruth experiments, they can organize a clinic, submit candidates to the comprehensive tests undergone by Ruth, and discover whether or not other Ruths exist. -Hugh S. Fullerton, Columbia University 1921
  • 7 Fundamental Problem in Sales Sales Leadership Challenges by Most Votes
  • 8 Why is hiring a problem in Sales? 2X Turnover 2X Salary Opportunity Cost in Lost Sales Compared to other professions $7,500 Average Recruiting & Onboarding Costs
  • 9 Actual Sales Missed Sales $205K Why lost sales?
  • 10 Avg. Annual Turnover 26% (Sources: SHRM & Journal of Personal Selling & Sales Management) Avg. Rep Count 30 Avg. Replacement Hires 7 Avg. Replacement Cost $215,000 Total Hiring Costs $1,505,000!!! What does this mean for my organization?
  • 11 How do sales organizations solve this problem today? Experience EducationGPA
  • Ivy League school 10+ years experience 4.0 GPA Fortune 500 Endlessly resilient Hungry to learn Understands people Desires to be the best TalentSkills & Experience Who are your best salespeople?
  • 13 How should sales organizations solve this problem? Talent
  • 14 How many reps have what it takes? 7/10 sales reps lack the threshold talents to be consistently successful in their jobs. - Gallup
  • 15 Why isnt HR analyzing talent? 81% 77% 58% 56% 14% 19% 23% 42% 44% 86% Finance Operations Sales Marketing HR Departments Using Analytics Yes No **Deloitte, 2014
  • 16 HR Capability Gap -40 -35 -30 -25 -20 -15 -10 -5 0 Diversity & Inclusion Workforce Capability Performance Management HR Technology Talent Acquisition Talent & HR Analytics Leadership **Deloitte, 2014
  • 17 62% 30% 8% Weak Adequate Excellent Ability to Execute Why isnt HR analyzing talent? **Deloitte, 2014
  • Behavior-Prediction is Notoriously Difficult. Cognitive Processes are often not Rational People use memorable experiences to infer future outcomes Memorable experiences are generally negative and few Negative and few is a perilous basis for generalization
  • 19 How do you credibly predict sales-performance? ?
  • 20 By identifying relevant talents. ? Ambition ResilienceEmpathy Openness
  • 21 What is ambition and why is it important in sales?
  • 22 What is resilience and why is it important in sales?
  • 23 What is empathy and why is it important in sales?
  • 24 What is openness and why is it important in sales?
  • 25 What is Sales Indicator? Assessment tool Easy to use analytics Customized models (both to company and sales role)
  • 26 What do InsideSales.coms company scores look like? 125.0 130.0 135.0 140.0 145.0 150.0 155.0 160.0 Sales Marketing Business Dev Client Services Admin / HR Technology Executive
  • 27 How are scores calculated? 1. Assess current sales team 2. Define quotas Administrator Neuralytics Identify optimal scores Sales Indicator Continually Calibrated Model
  • 28 Why is there an optimal score?
  • 29 How does this work? Mike (Sales Hiring Manager)
  • 30 Whom to hire? VS Cory Michelle 3.8 GPA Business Degree 3 Years Experience 3.79 GPA Business Degree 2.5 Years Experience
  • 31 Which football team won? Overall: 46 Wins* Overall: 58 Wins Last decade: 9 Wins* Last decade: 1 Win
  • 32 A deeper dive with Sales Indicator Cory Michelle AMBITION AMBITION RESILIENCE RESILIENCE EMPATHY EMPATHY OPENNESS OPENNESS FINAL FINAL 73 0 100 0 100 0 100 0 100 0 100 0 100 0 100 0 100 98 50 86 74 94 97 80 0 1000 100 68 90
  • 33 Predictive Performance Predicts Quota Attainment Emailed Report
  • 34 Remember Brian Wixom? 5th highest Sales Indicator score in company
  • 35 Special Offer 1) Profiles + Survey Volume 2) Implementation $4,000
  • Thank you