One of the most significant growth challenges CEOs and commercial leaders face is hiring and retaining sufficient sales talent. According to our internal SBI benchmarking, most business-to-business sales organizations exited December of 2021 with a startling 10–15% open sales headcount. But the real “sales capacity at risk” figure is closer to 50–60% when factoring in open headcount, expected sales professional attrition, lower productivity levels from a glut of new hires across the past several months, and required growth hires to meet higher revenue targets. Even this figure understates the urgency of the challenge for many organizations.
How to Retain Your Best Sales Talent
A recent study found that 56% of sales professionals are actively job hunting.
April 28, 2022
Summary.
Almost half (41%) of the sales professionals surveyed reported satisfaction in their role but are still searching for a new job, and 44% of satisfied high performers are actively on the hunt. SBI research surfaced a remarkably stark conclusion: compensation adjustments, work-life balance, immediate promotion opportunities, title adjustments, and reaffirming a strong sales culture have little impact on retention. Instead, leaders must focus on improving their employees’ career prospects and presenting a clear path to short-term success.
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New!
HBR Learning
Marketing Essentials Course
Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Marketing Essentials. Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.
Learn how to communicate with your customers—strategically.