Insights

The past several years have been full of economic and workforce shifts and Sales Professionals haven’t been spared. Employees have retired or moved to better job opportunities, leaving wide gaps in employment, and leading to what is commonly referred to as “The Great Resignation.” Younger millennials and Gen Z professionals are stepping in, seeking out higher pay, better benefits, and more flexibility—leaving many companies in a bind. This has caused some employers to panic, unsure of how they’re going to keep their talent and avoid an employee shortage.

According to Catalyst, the U.S. is expected to lose $430 billion by 2030 due to low retention. Here are three strategies to consider so you are not left struggling to fill vacancies that cost your company money in lost revenue, employee morale, and employee burnout

Stay Up to Date on Technology & Automations

It’s no secret that technology can complete tasks that one or many employees once did. Although your focus is to keep the workforce you already have, if you find yourself in a difficult situation due to the loss of an employee, there are tech resources or automation capabilities that can help fill the void, such as Salesforce, Calendly, HubSpot Sales Hub, Outfunnel and more.

The addition of technology also poses a necessary challenge for current employees, helping the job feel less mundane, which is often one of the many reasons people choose to find a new position. Offering them a chance to push themselves and expand their skills will likely lead to greater satisfaction, which boosts retention levels. They may also see it as valuable for their long-term goals, as they can bolster their resume.

Focus On Employee Engagement

Employee engagement is vital whether they work from home, partake in a hybrid model, or are in the office five days a week. Creating a sense of belonging and camaraderie allows sales professionals to feel connected to their team and the work they’re doing, decreasing the likelihood of them leaving. This can be done through monthly team meetings, publicly celebrating successes (both big and small), creating feedback loops, keeping open lines of communication, and supporting work/life balance to help avoid burnout.

Create Advancement & Training Opportunities

Professional growth is essential for retention; if an employee feels there is no room for growth within the company, they might find another opportunity that allows them to tap into their untouched potential. According to a study done by Zavvy, only 34 percent of employees are satisfied with the training that is immediately tied to their everyday work.

This is why training and networking opportunities are crucial. Hold consistent conversations about long-term goals and how you can help your employees achieve them–whether it be developing new skills through webinars, coaching, or by expanding existing skills

Once given a chance to pursue their careers further, you are likely to find that productivity levels increase. However, it is also important to create advancement opportunities. While brushing up and/or increasing skills is beneficial, if they don’t have the chance to put their new skills to work and receive an increase in pay or position, they may search for another job

Let Talent Partners Help You

For nearly three decades, Talent Partners has been helping companies match with high-quality employees who fit their hiring needs. Retaining sales talent begins with the hiring process, and our team is committed to finding you unparalleled candidates to maximize your potential. If you’re ready to invest in your business and success, contact us today.