Turnover is a costly problem for sales organizations. On average, companies experience a 17.8% turnover each year, and the average cost to replace an employee is 1.5 – double the employee’s annual salary. (And it’s even higher for high-level employees like managers and those with specialized skills.)
Take a look at the high cost of turnover in the infographic below. What you find may surprise you!
5 Steps to Reduce Turnover
There are things you can do to reduce employee turnover.
- Fill your talent bank— You can’t hire great people unless you have great candidates ready!
- Interview the right way — Use a validated talent assessment to predict success based on innate strengths.
- Focus on strengths — By focusing on strengths, you can see a 10-fold improvement in production.
- Build up, don’t tear down — Build up your staff through positive reinforcement.
- Train your people — well trained salespeople are more successful, earn more, and don’t leave organizations.