Post on 16-Apr-2017
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SalesMax for Hiring Top Performing Salespeople
Achieving Sales Success at
Topics
Introduction
Your needs
SalesMax
Hire The Best
Validation Study
Develop Excellence
Summary
Your Needs
A process to assist HR and managers in selecting top performers Tools to help identify those with the greatest potential to succeed Resources to make the process easy to use for HR and hiring manager
A tool for developing the current sales force Identify strengths and key developmental needs Development resources for salespeople
Background
We represent a firm of organizational psychologists and consultants.
This firm has a thirty year history of providing organizations with selection and development solutions to meet their business needs. In the past 15 years they have steadily grown into an international consulting &
assessment presence Extensive experience serving large, medium and smaller clients
Their staff people are: Organizational psychologists Management consultants Software designers Service professionals
Our Areas of Expertise
Provide selection and development solutions to meet the business needs of our clients Competency modeling Executive assessment and coaching Test validation and integrated selection
programs Succession planning & development programs Web-based assessment tools
We offer solutions tailored to all levels of the organization
Associates
Professionals
Managers / Supervisors
Senior Managers
Executives
Positioning
“Scientist-Practitioners” Licensed Industrial/Organizational Psychologists Test validation focuses on criterion-related validation (I.e., predicting job performance
measures) Not benchmarking or simple statistical analysis using a Stat program
“Client-Centric” Approach Treat each client as a unique engagement Develop customized assessments, if necessary Provide supporting services around selection & development offerings Support clients through a team of consultants, technologists and customer service
representatives
Sales Research
Actively researched “sales personality” since the mid-1980s.
Developed and refined sales success tools since 1992.
Researched sales across levels and industries Retail Sales, Telemarketing, Consultative Sales, One call sales
Identified certain characteristics that contribute to success in most types of sales positions Assertiveness, Energy, Sociability, etc.
Representative Clients and Ongoing Research Projects
Comprehensive Approach
To understand effective sales behavior, you must understand the whole person…
Innate – How Personality
Learned – What Knowledge Skills Experience
Personal Motivators - Why
SalesMax…Select and Develop Top Sales Talent
SalesMax
Targeted assessment for sales professionals Focuses only on those factors most applicable to a consultative/relationship oriented
sales role
A comprehensive, web-based assessment tool designed to aid in selection and development Selection Report – identifies candidates who are most likely to achieve above average
success in professional sales Developmental Report – helps current employees to identify strengths and developmental
areas and guides them in constructing a personal development plan to achieve success
SalesMax Measures
Sales Personality Relatively stable characteristics that do not change easily over time
Energy
Sociability
Expressiveness
Resilience
Assertiveness
Follow Through
Optimism
Serious-Minded
SalesMax Measures
Energetic
Follows Through
Optimistic
Resilient
Lack of urgency, slow to complete work
Undependable
Negative, pessimistic outlook
Sensitive to criticism and rejection
Enthusiasm, hard work, visible effort
Completes tasks, follows through on commitments
Positive, optimistic outlook; Weathers adversity well
Thick-skinned; able to handle criticism and rejection well
Personality Scale Example of Low Level Example of High Level
SalesMax Measures
Assertive
Social
Expressive
Serious-Minded
Difficulty exerting influence, taking charge or asking for the sale
Shy, more of a loner than a people person
Reserved, may have difficulty displaying enthusiasm
Makes decisions too quickly or takes unnecessary risks
Possesses a confident sales presence
Outgoing, enjoys client/customer contact
Free and easy conversational style
Serious-minded, businesslike and professional
Personality Scale Example of Low Level Example of High Level
Self-Reliant
Accommodating
Positive About People
Lacks initiative
Overly competitive, aggressive and disagreeable
Distrustful, negative view of people and their intentions
Takes charge, gets things done
Win-win style
Balanced outlook regarding people and their intentions
Personality Scale Example of Low Level Example of High Level
SalesMax Measures
Sales Knowledge Scenario-based questions measure understanding of effective strategies at key stages of
the sales cycle
Prospecting/Pre-qualifying
First Meeting/Impressions
Probing/Presenting
Overcoming Objections
Influencing/Convincing
Closing
SalesMax Measures
Prospecting / Pre-qualifying
First Meetings / First Impressions
Probing / Presenting
Overcoming Objections
Influencing/Convincing
Closing
Identifying sales prospects and pre-qualifying them.
Recognizing the importance of first impressions in initiating positive and productive sales relationships.
Developing a clear understanding of the customer's specific needs.
Problem solving and overcoming objections.
Convincing the customer of the value of company products and/or services.
Negotiating and closing the sale.
Sales Knowledge Description
SalesMax Measures
Sales Motivations Through a forced-ranking approach, candidates reveal their key motivational drivers
Recognition/Attention
Control
Money
Freedom
Developing Expertise
Affiliation
Security/Stability
Achievement
SalesMax Measures
Recognition/Attention
Control
Money
Freedom
Extent to which one values recognition for work well done; enjoys being the center of attention.
Extent to which one prefers positions of leadership or control. Likes to be in charge.
Extent to which one is motivated by financial rewards, such as money and material possessions.
Extent to which one values personal freedom to make decisions and function independently.
Motivator Description
SalesMax Measures
Extent to which one values becoming an expert and perfecting skills within a chosen field.
Extent to which one is motivated by interactions with other people. Enjoys helping and other people.
Enjoys helping and dealing with people
Extent to which one is motivated by stability and security in life and in career.
Extent to which one is motivated by overcoming successive challenges; enjoys challenges for their own sake.
Developing
Expertise
Affiliation
Security/Stability
Achievement
Motivator Description
SalesMax Research
Designed based on 10+ years experience assessing professional sales candidates Input from top sales experts/trainers Published sales literature
Originally validated with 3 organizations Business services Office products/services Home remodeling/building
SalesMax Results
Original Validation Sample
Salespeople with top SalesMax scores sold 34% more than bottom scorers
AAddvviiccee SSccoorree AAvveerraaggee SSaalleess RRaattiioo
AAAvvvoooiiiddd 000---111888 ...888777
OOOKKK 111999---222333 ...999444
GGGooooooddd 222444---222666 ...999777
BBBeeetttttteeerrr 222777---333333 111...000444
BBBeeesssttt 333444---444555 111...222111
Range Score Probability of Probability of Bottom Half Top Half
Performers Performers
Avoid 0 – 18 84.2% 15.8%
OK 9 – 23 53.8% 46.2%
Good 24 -26 33.3% 66.7%
Better 27 -33 32.0% 67.8%
Best 34 -45 33.3% 66.7%
Probability of Success in Sales
Opportunity for Sales Success
SalesMax Results
Fortune 500 Insurance Company
By selecting those with scores of 25 and higher, mean sales for the selected group would be $4,895,083 for an average improvement in sales of $1,146,113 per sales rep.
SalesMax Results
Sales of Consulting Services
Those who “passed” SalesMax had double the gross profit as compared to low scorers
$0$20,000$40,000$60,000$80,000
$100,000$120,000
Gross Profit
0- 26 27-45
SalesMax Results
Advertising Sales
Low scorers (Avoid) sold less than 10% of goal versus over 90% of goal to top scorers (Best).
SalesMax Results
Mortgage Loan Officers
Top scorers (Best) had sales volumes that were double that of bottom scorers (Avoid)
$0
$5,000,000
$10,000,000
$15,000,000
$20,000,000
$25,000,000
$30,000,000
$35,000,000
Amount of Sales $ Jan-July 2003
Sales Volume Differences (Adjusted by Region) Between Customized SalesMax Advice Categories
AvoidOKGoodBetterBest
SalesMax Results
Commercial Lines Insurance
Top scorers sold almost double compared to bottom performers
$171,296
$236,360
$294,442
$389,101
$0
$50,000$100,000$150,000$200,000$250,000
$300,000$350,000$400,000
2007 DO CL New Premium Value
2007 DO CL New Premium Value by SalesMax Advice Categories
AvoidCautionGoodBetter
A Complete e-Solution
Candidate logs-in to our secure Survey Site Affirms a Statement of Informed Consent Completes the survey in about an hour
Client logs-in to our secure User Site System software scores the survey A report is produced immediately Anywhere, anytime, with an Internet
connection
SalesMax Selection Reports
Graphic Profile Success Profile
Selection Advice Probability of Sales Success Assets and Potential Liabilities
Interview & Reference Probes
Management Suggestions
SalesMax Selection Reports
Graphic Profile Success Profile
Selection Advice Probability of Sales Success Assets and Potential Liabilities
Interview & Reference Probes
Management Suggestions
SalesMax Selection Reports
Graphic Profile Success Profile
Selection Advice Probability of Sales Success Assets and Potential Liabilities
Interview & Reference Probes
Management Suggestions
SalesMax Selection Reports
Graphic Profile Success Profile
Selection Advice Probability of Sales Success Assets and Potential Liabilities
Interview Probes
Management Suggestions
SalesMax Development Reports
Graphic Profile
Detailed Feedback Personality Knowledge Motivations
Developmental Suggestions
Action Plan Guidance
SalesMax Development Reports
Graphic Profile
Detailed Feedback Personality Knowledge Motivations
Developmental Suggestions
Action Plan Guidance
SalesMax Development Reports
Graphic Profile
Detailed Feedback Personality Knowledge Motivations
Developmental Suggestions
Action Plan Guidance
SalesMax Development Reports
Graphic Profile
Detailed Feedback Personality Knowledge Motivations
Developmental Suggestions
Action Plan Guidance
Use Standard Version of SalesMax
Assess Systems will conduct a Job Analysis for a reasonable investment Identify areas where Behavioral Interview Questions can be helpful Develop Behavioral Interview Questions with management
Build a Behavioral Interview based on the Job Analysis Incorporate the Behavioral Interview within the SalesMax report
Validation by Licensed Psychologists
Includes These 9 Steps Job Analysis SalesMax Survey administration Supervisor Rating collection Compiling Performance data Data analysis Validate a custom SalesMax success profile Customize SalesMax report Construct Interview Guide Report and documentation
Understand the Job First Review Existing Documents
Job descriptions, training manuals, etc.
Facilitate Focus Group(s) Include job expert, such as top performers, sales managers, strategic visionaries Define the key success factors for the job Understand how the job and organization are changing
Document results
Results guide… Data collection Selection and Development programs Customization of assessment tools
Process Design
Your Organization’s SalesMax Success Profile Construct based on job data Answers “who will be successful” specific for your specific job and company Validate predictiveness using SalesMax and performance data from study Control for any adverse impact
Construct Interview Construct new or integrate existing interview Structured, behavior-based interview Focused on key competencies Integrated into SalesMax report
Gather Validation Information
SalesMax SalesMax survey completed by 150 – 300 members of sales force Easy web administration, takes about 1 to 1 ½ hours
Objective Performance Data Compile existing sales volume and market data
Supervisor Ratings Special ratings, not annual performance reviews Collected in facilitated sessions, either live or by telephone Yields a much higher quality data – greater accuracy
Report & Apply Results
Summarize Group summaries of all measured areas
Apply Results
Design selection process Customize assessment tools Validate predictiveness of tools Plan development
Percentile Averages Across Personality Scales
0%
10%
20%
30%
40%
50%
60%
70%
XYZ Co.Participants
US NormativeGroup
1% 11% 21% 39% 28%
6% 18% 19% 29% 28%
11% 13% 33% 15% 28%
7% 15% 33% 17% 28%
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Overall Job PerformanceRating
Overall SALESPerformance
Sales Income Amount
Sales Income Rating
Summary Ratings of Sales & Performance
0100000020000003000000400000050000006000000700000080000009000000
Sales Volume
Average Sales Volume (by SalesMax Category)
AVOID
OK
GOOD
BETTER
BEST
Hire the Best
Typical Validation projects range from $$75,000. to $100,000.
Assess Systems will conduct a typical validation study for $55,000.00
Typical Hiring Process Targeted Recruiting
Pre-Screen Review of application and resume Brief telephone interview for basic qualifications
SalesMax Assessment Candidate completes on the Web, anytime, anywhere Results are reviewed and top few candidates invited for interview
Interview(s) Structured, behavior-based and focused on key success factors Interview guide integrated into SalesMax report Interview Guide includes individualized probes based on assessment results
Hiring Decision
Benefits to the Organization Fewer expensive hiring mistakes
The cost of a bad hire is typically estimated at 1 to 1 ½ times annual compensation
Increased sales performance By avoiding the potentially worst performers, effectively raise the average productivity of
your sales force
Consistent, legal hiring practices across the organization
Increased efficiency means sales managers spend less time hiring and training
Managers can invest more time with their high potential salespeople
Increased retention by improving person-job fit
Summary
We offer Extensive experience with sales assessment and large
organizations Scientifically developed assessment tools Consulting resources to help you implement effectively Flexible technology and a tailored approach
SalesMax is a Comprehensive Sales Assessment for Selection & Development
Effective hiring helps you choose the top talent of the future
Individual development helps grow your current sales team