The Sales Factor
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Transcript of The Sales Factor
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India’s growth story lies in the immense potential of its growing domestic
consumption, its ‘demographic dividend’ and its burgeoning middle class, which is an
opportunity for retail products and services.
In this story, People Matters focuses on “providing a snapshot of current sales
structures, talent challenges and opportunities in building successful sales teams in
FMCG, Consumer Durables, Telecom, Banking, Financial Services and Insurance
(BFSI) and Pharmaceutical industries”.
Introduction
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FMCG industries - Ensure that the product is available and visible to the end buyer
through distribution channels (traders & retailers).
Telecom industry - Pick valuable market information and create a seamless
feedback mechanism to create a compelling offering.
Pharma industries - Ensure that the process of sales complies with regulations and
company policies as these products are designed to save lives, but has nothing to do
with distribution.
Consumer durables - Achieve increase in sales by increasing network and
penetration across channels while innovating on affordable products.
A Salesperson’s Job
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The Talent Challenges
Finding the right fit
The leaking pipes
Reward for variability in performance
Managing careers, not jobs
‘Alexander or foot soldiers’ approach
Scalability and reach
“Attrition, low productivity, and spiraling wage bills, are outcomes of a combination of
factors from shrinking qualified talent pool, lack of measurement of talent performance
and poaching within the industry and across industries.”
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The Success Formula
Hire right (success profile)
Induct and train right
Reward right
Manage career and expectations
Lead right
Alternative options (temporary staffing)
“When people on the ground hold the key to business excellence and resultant increase
in market share, managing sales talent is a business agenda that must be anchored by
the top management.”
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In retail-focused industries, the organization’s core objective will be to focus on
maximizing reach and local penetration to maximize market share.
Organizations that will make right talent investments in sourcing the right talent,
training and managing new talent aspirations, will stand to win.
Organizations that can introduce transparent incentive plan will see much higher
gains in sales as more sales people will be able to identify the direct correlation
between achievement and reward.
The sales teams will emerge stronger with the right support and co-operation
from HR, IT and marketing teams.
The Trends Ahead
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Expert comments
The market is extremely competitive and your sales
people need to be superior. Companies need to
focus on using recruitment, training and constant
recognition programs.
Manoj Kohli, CEO (International) & Joint Managing
Director, Bharti Airtel
A well designed incentive program pays
disproportionately higher as performance crosses
100% of targets.
Srikanth Rajagopalan, Senior Sales & BD
professional
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Expert comments
The P&G model is to reach out through strategic partners
The change in structure happened around 10 years back
when we realized we needed better scale, reach and
consistency, in our sales process to create cost efficiencies.
Sonali Roychowdhury, Head – Human Resources,
Focus on innovation, beyond target achievements
Taking risks, exploring new channels and building new
collaborations are the new metrics for the sales team.
Prashant Deo Singh, Head- HR & Group Affairs, Panasonic
India Pvt. Ltd.
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Expert comments
Sales is not a career of choice for many
You have the seasoned sales people who are great
performers and want to continue with it, and others who
want to move to managerial roles to gain the status and
a stable income.
Judhajit Das, Chief HR, ICICI Prudential
Compliance and governance is an integral part of
insurance sales
The sales teams in insurance must have an inclination
towards financial products and understand what they
sell and sell what is needed by the client.
Anuraag Maini, Executive VP - HR and Training, DLF
Pramerica Life Insurance Co Ltd
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Expert comments
“Trust” is a crucial element for customers and employees
Reinforcing the right behavior around trust and integrity in a
sales process is the hallmark of a well designed incentive plan.
Gautam Chainani, Chief People Officer, Aditya Birla Financial
Services
In pharma sales, process and targets are equally important
If you are a sales representative of a mass where your target
customer are physicians, then strong process orientation is
required as reach is the ‘mantra’ to cover these markets.
Varun Upadhyaya, Director and India HR Head, Dr. Reddy’s
Laboratories
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Expert comments
Determining sales potential is not an easy task
Companies have to be creative in identifying the ‘Success
Profile’. Those who are not your best sales people but have
capabilities, can be groomed to take on managerial roles.
Rajiv Krishnan, Managing Director, Development, DDI
Today “command and control” model is replaced by the
“lead and coach model”
It is important to assess that an individual is a good fit for the
organization and meets the requirement of the sales role.
Y. V. Lakshminarayan Pandit, MD, SHL (India) Pvt. Ltd.
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Expert comments
Staffing companies can support in hiring job-ready
candidates
This enables organizations to have the right person for the
right job and higher productivity at an affordable cost.
Rituparna Chakraborty, Co-Founder and VP, TeamLease
Services Pvt. Ltd.
A strong variable component in pay is a natural selection
mechanism
Working with CEOs, our experience is that to build a
successful sales force, companies need to hire for attitude
and train for skills.
Shiv Agarwal, CEO, ABC Consultants
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