In the financial world, low risk is aligned with low yield, and vice versa, a process known as Risk-on, Risk-off. This is the accepted norm.
Hiring sales people has always been accepted as a Risk-on process – indeed one of the biggest Risk-on processes for a firm, yet one that has become accepted as inevitable – hiring a good sales person delivers sustainable competitive advantage and wealth; a bad one delivers a significant cost overhead, but worse, a long term risk to reputation.
Wouldn’t it be great if you could have a Risk-on result, with a Risk-off approach – in other words - have your cake and eat it? Is that possible?
Yes you can – with the advent of rigorous and robust Big Data Sales Talent Analytics, the impossible is becoming the norm.
SalesAssessment.com Ltd, world leaders in building sustainable business value with advanced talent analytics have recently released their new offering called Recruitment Genie, available online at https://www.salesskillsaudit.com.
This draws on the Big Data collected during SalesAssessment.com’s 10 plus years delivering robust and reliable pre-hire and development assessments of sales people for firms in over 60 countries world-wide, in order to analyse individual pre-hire assessments and rank them against global benchmarks derived from the Big Dataset.
What does this mean for firms practically?
Instead of having to scan CV’s when hiring sales people, firms can now ask SalesAssessment.com to act as the filter for sales people during a hiring process. This eliminates the challenges associated with CV scanning – either significant cost of time if scanned by people, or risk of missing good candidates if machine scanned. When a candidate applies for a job and uploads their CV, the salesskillsaudit.com system allocates the CV a unique number and returns to the candidate a local language sales assessment link. This connects the candidate with a 30 minute robust analysis tool that determines their level of core selling skills (based on UK National Occupational Standards for Sales), and ranks them in sales performance order. The system can then be set to forward the reports together with the associated CV for the pre-determined number of candidates.
Candidates can be forwarded against a number of criteria, such as “let me have the top 10 candidates”; or “send me the top 2% of candidates”.
This approach ensures that you never again miss a good candidate because they used the wrong words on their CV and got missed by the machine scan, as well as ensuring that you never again waste time with a poor candidate, who happened to use the ‘right phrases’ on their CV.
What does this mean for firms financially?
Firms can now have the benefit of reduced hiring costs and greater certainty in outcomes – truly a Risk-off approach, with a Risk-on return on investment.
@McKinsey, in their War for Talent material showed that good sales people deliver up to 67% more revenue per annum than simply average sales people. This delivers a true path to wealth creation, and reputation management – the golden goose for most firms.
SalesAssessment.com have evidenced the impact that good recruitment makes to firms throughout their history, now with Recruitment Genie, this is a Big Data application that can add value to firms large of small, with immediate impact on this year’s numbers – yet having a long terms sustainability whereby improved competitive advantage, and hence, increased revenue numbers are available year after year – for no added cost.
If you can think of a better way to invest a relatively modest amount of money from which you will obtain reliable revenue uplift, I for one would love to hear about it.
Andrew spent 25 years running sales teams and complex opportunities globally for organizations such as BICC; AT&T; Fujitsu Services amongst others before founding his first company, ICDL in 2000, and SalesAssessment.com in 2008.
Andrew holds a Post Graduate Diploma from Portsmouth University in Sales Management; is a Chartered Fellow of the Chartered Institute of Marketing (past Chairman of the Thames Valley Branch), and is a Liveryman of the Worshipful Company of Marketors.