Experts say that replacing an employee can cost anywhere between six months of their annual salary and two times that salary. Running thorough background checks that include professional and educational verifications can help your business avoid these costs.
How much does it cost to hire someone? Getting a specific answer to that question depends on who you ask and which sources you trust. But the general answer is the same no matter who you consult: hiring a new employee is not cheap.
The True Cost of Hiring an Employee
There is a reason that high employee turnover rates are seen as a bad thing, and it’s not just that they make a business look like an unwelcoming place to work. Continue reading
What Top Talent Really Wants
Today’s candidate-driven market is pushing companies to invest in more than just competitive salaries to attract top talent.
Potential employers are offering an array of incentives, from flex time to limitless vacation to childcare reimbursement. This makes it an exciting time to be a job seeker. You can now consider which benefits will mesh best with your lifestyle, then look for positions that enhance your life.
Not sure where to start? This graphic from Company Folders, Inc. will walk you through the top ten workplace incentives to watch out for in your job search.
Spending too much time scanning resumes, guessing what would make a good hire for the position? Continue reading
As a new sales manager it’s easy to get caught up in a million different initiatives and lose track of what is really important: your team. After all, without a team you won’t hit your numbers. So, here are a few things to think about before your team completely writes you off as their new manager:
Assess The Sales Process
Nothing is more frustrating and crippling to your sales reps productivity then an inefficient sales process. Lack of process leads to reps storing account and contact information in Google Docs rather than putting that precious information into Salesforce. When it comes time to make tweaks to your marketing initiatives and defining your ICP, you will end up with a lot of missing data you believed you had been tracking all along. Continue reading
The standard wisdom used to hold that the very best salespeople came with a solid marketing or business background.
But that wisdom has proven to be built on an unsteady foundation: Sure, great salespeople can come from those two typical career paths, but they don’t have to. How then do you find the best of the best to generate top sales for your company?
This graphic can help along the journey to hiring the best salespeople yet.
Where to Find Salespeople in Non-Sales Careers
This article was originally published on The Salesforce.com Blog.
Jessica Bennett is a writer, editor, and novelist. Continue reading
Ever find yourself in a heated discussion with other members of a hiring committee because you couldn’t seem to reach consensus on a candidate?
There are a number of reasons for this type of disagreement, but they generally boil down to a single issue: You haven’t clearly defined the role. This means that some interviewers may end up evaluating candidates on irrelevant criteria or neglecting to assess the most important qualities for the role.
That’s why the structured interview approach is so powerful.
Instead of relying on gut feelings and the personalities of the interviewers, you begin with a strategic kick-off meeting between the hiring manager and talent acquisition. Continue reading
Implementing People Analytics
Michael Cavaretta, Lead Data Scientist (before data science was cool) at Ford Motor Co. crafted a striking article on the fundamentals of analytics. With over 15 years experience, Michael points out the most critical question that is too often overlooked, “so what?”
Many analytics presentations crash and burn because no one answered the question, “so what?”
We often talk about the power of people analytics and the potential it holds for business large and small. Michael even makes note in his piece, “Anytime you look at business metrics there is an opportunity to use analytics. A hot area right now is the application of big data and analytics to HR processes.”
It’s clear that human resources and hiring are itching for a revolution – but without defined strategy, many firms will fail. Continue reading
The business case for people analytics
Most recruitment processes are simple:
You send in a resume
A human reads it and decides they like the words on the page enough to interview you
They bring you in for an interview and have a few people that are not well trained
in interviewing, ask you questions
The firm makes decisions based on the personality
of the applicant and interviewer
1 in 3 new hires leave within 12 months
On the flip side, rejected candidates can go on to become extremely successful, leaving firms sorry they missed the chance when they had it. Continue reading
Just when you thought you were on top of the newest HR trends: video interviews, payroll automation, virtual conference rooms… “People Analytics” crops up. What does it even mean? And where should you start?
The term people analytics refers to any data-backed people management decision. While it seems to be the hottest buzzword in HR circles today, be weary of implementing too quickly. In an expert panel last week David Woodward, Chief Product and Innovation Officer at Ceridian put it well, “HR mustn’t run before it can walk. Getting an accurate headcount is still a challenge for some companies.”
If this rings a little too true at your firm, don’t panic – small, calculated steps can quickly put you ahead of your competition and there is a lot of new software out there to help you. Continue reading
This is How To Attract Top Millennials in Sales
You’re looking to add millennials to your sales team because they’re eager and hungry. The majority of them are unmarried and do not have kids, so they can give their job (and your company) 110% of their effort. You’re ready to hire but they’re not biting.
As a young professional, I get some very odd reactions when I tell my friends that I am pursuing a career in sales.
And I get it; the perceptions of salesmen are not great. Young professionals get the impression of an aggressive guy who will do anything to close a sale. Continue reading
Recruiting sales reps at a startup is so important that, David Skok, entrepreneur turned VC, considers recruitment the third critical startup skill.
I’ve helped hundreds of customers hire sales reps at their own companies, and these are the top 3 mistakes I see startups make when recruiting sales reps summarized in an infographic below.
Mistake #1: Going with your gut when it’s not backed up by data
I hear it all the time – hiring managers say “I just don’t think they are a fit” which is code for “I don’t like them.” This is controversial, but I don’t think you should recruit using gut feel. Continue reading
In Episode 4 of Ideal’s video series The Science of Sales Hiring, I explain how following your ABCs
reduces your time-to-hire sales reps by 32% on average.
Reduce time-to-hire sales reps at the top of your sales hiring funnel
What do I mean by Assessing Before Conducting? Specifically, you should be assessing sales reps’ personality and culture fit before conducting the interview. Why?
According to The Harvard Business Review, you should:
Use short, online assessments as a first screening step before the interview to weed out the least-suitable applicants, leaving a smaller, better-qualified pool.
Ideal’s data has found that by reducing the top of your sales hiring funnel by assessing sales reps’ before conducting interviews reduces your time-to-hire sales reps from 41 days to 17 days on average. Continue reading
What’s a sales personality assessment? And how does it help you hire better salespeople?
In the third episode of Ideal.com’s video series The Science of Sales Hiring, I explain how a sales personality assessment helps you identify salespeople who are more likely to succeed in your sales role – and produce 20.7% higher sales revenue on average.
The personality traits to look for when hiring salespeople
The most commonly researched personality traits for salespeople are the OCEAN traits (aka The Big Five):
Openness to Experience (how creative you are)
Conscientiousness (how hardworking you are)
Extraversion (how social you are)
Agreeableness (how nice you are)
Neuroticism (how negative you are)
Out of the five OCEAN traits, the ones that have the highest correlations with sales performance are: Conscientiousness and Extraversion. Continue reading
The best way to assess a sales rep’s personality is by, well, using an assessment. But if you want to also assess a sales rep’s personality in an interview, our infographic below summarize the research on how to accurately do it.
The sales rep’s personality traits that are best assessed in an interview
Research has found that people are more accurate when judging someone else’s personality on more observable traits such as how extraverted or hardworking that person is.
Research on personality and interviews has found this to be true: Extraversion and Conscientiousness show the highest correlations between self-rated personality and interview ratings. Continue reading
Experts like Jason Lemkin and David Skok agree that the number one priority for a sales team is recruiting the right people.
Source: David Skok
Hiring the right salespeople can lead to a 21% increase in revenue, yet sales hiring is still plagued by bad assumptions and old-fashioned practices.
Not only are you losing potential revenue by not hiring the right salespeople for your open roles, you’re losing money: the average cost to replace a failed sales hire is $114,957. Ouch.
To help you avoid making costly sales hiring mistakes, I hosted a free 30-minute webinar on the 5 Costly Mistakes You’re Making With Your Sales Hiring (And How to Fix Them). Continue reading
Welcome to the second episode of Ideal Candidate’s video series: The Science of Sales Hiring.
In this episode, I’ll go over 4 science-backed tips on how to write a sales job posting to find, attract, and hire the best salespeople for your team.
Why your sales job posting matters
Don’t make the mistake of neglecting your sales job posting! A recent survey by CareerBuilder found a bad job posting is the third most important factor that causes job seekers to have a negative perception of a company.
So it’s important to keep in mind your sales job posting is part of your talent brand that candidates use to judge the attractiveness and fit of your sales role. Continue reading
An Introduction to HR Technology
You’ve read it in the headlines. You’ve heard it at the watercooler. #HRtech seems to be the next big thing on your twitter feed. But what does it actually mean?
You can find a detailed definition of the emerging term here, along with examples and industry jargon – but if you’ve only got 5 minutes, here’s what you need to know.
15 Second Definition of HR Technology:
Technology used to attract, hire, and retain talent.
Origin of HR Technology:
The term itself has evolved over time, loosely from the days of Paper-based Systems > PC Systems > Electronic Databases > to today’s Web-based Technology
#HRtech, People Analytics, HR Predictive Analytics, HR Big Data
HR Technology Names to Know:
Chris Russell (@Chris Russell
), RecTech Media,
Chris is considered the ‘mad scientist of online recruiting’. Continue reading
With an average 28% turnover rate for sales, HR and sales leaders are starting to abandon the traditional ways of hiring salespeople and exploring new, innovative methods to find sales talent instead.
Here are 6 controversial, but effective, ways to hire salespeople that are disrupting traditional recruitment methods.
1. Blind sourcing to hire salespeople
Unconscious biases in hiring have gotten a lot of press lately and one way companies are trying to tackle this problem is through blind sourcing.
The most common blind sourcing method being tested is to remove the candidate’s name from their resume. The theory behind removing the candidate’s name from his or her application is that it helps the hiring manager make decisions free from unconscious biases of the candidate’s race and gender. Continue reading
Did you know that everything you’re doing when you hire salespeople can be done in a more scientific way?
I’m proud to introduce Ideal Candidate’s new video series: The Science of Sales Hiring.
In this series, I’ll show you how to apply the latest scientific research to help you find, attract, and hire the best salespeople for your team. I’ll also be sharing research-based tips on how to motivate and increase the performance of your sales team.
And why do I want you to use science in your sales hiring so badly?
Research featured in the Harvard Business Review found that using data and science when hiring led to a 50% increase in quality of hire as measured by outcomes such as:
performance ratings by supervisors
employees’ number of promotions
employees’ ability to learn on the job
Having an opinion is nice, but then you’re rolling the dice. Continue reading
When it comes to hiring a sales rep, it can feel like you talk to an endless pipeline of sales candidates before you find what you’re looking for. And suddenly, one sales rep walks in the door and impresses you right away. Hired. Done.
But there are risks to hiring a sales rep based on your initial gut feeling: like a 50% failure rate in hiring. Suddenly that sales rep who blew you away during the interview doesn’t look so amazing months later when they fail to make quota.
Here are 3 risks you take by hiring sales reps using your gut feeling and what you should be doing instead. Continue reading
The job interview has been the most popular method of hiring for the past 100 years. Clearly, there’s something about talking to someone in person that we find appealing.
Unfortunately, research reveals that we tend to be pretty bad at conducting job interviews. So why are interviews so terrible at predicting job performance?
Let’s look at 5 Reasons Why Job Interviews Are Useless in our infographic below:
Reason #1: You’re easily impressed
A recent study on job interviews found that people higher on narcissism (i.e., manipulative, arrogant, and lacking empathy) are perceived to be more attractive as job candidates. Specifically, the researchers found that “narcissists tended to talk about themselves, make eye contact, joke around and ask the interviewers more questions.”
When these are the same behaviors that job candidates are encouraged to display during an interview, it’s obvious why we’re easily led astray. Continue reading