Is the competition taking your sales talent? If so, every CEO must ask the question: “What is my response? How do I structure a winning sales organization?”
The competition can beat you on two dimensions: superior solutions and better talent. The best solutions attract the best talent. The best talent delivers the best solutions. Sales and Marketing are vulnerable to this talent battle. Every CEO knows this.
Unfortunately for the established market players, the younger start-ups continue to disrupt the market. They innovate. They steal top talent. Then before you realize it, your best leaders have been poached.
A critical sales strategy component is the creation of a best-in-class sales organization. A sound strategy will aid in talent retention. It will ultimately lead to a flawless execution of your overall plan
Discuss with your sales leader a comprehensive organization plan. Your talent should be placed in an optimally defined territory. Your sales leaders must assign quota and comp plans that reinforce the desired behaviors. Only then will you attract and retain the best talent.
6 Steps Toward a Best-in-Class Sales Organization
Sales Organization Design – Design the appropriate sales organizational model and determine the proper headcount. This model needs to be revisited and restructured to align with the customers’ needs. A poorly executed organization can result in lost customers and super star reps resignations
Channel Optimization – Select, sign and enable partners that will commit the greatest share of resources. You need to align your sales channels with customer demand
Talent Program – Source, hire, onboard, coach, train and develop talent required to execute the sales strategy. Your sales leader must build a team of top performers. They need the tools and structure to manage the program
Territory Design – Create balanced territories where the right reps are placed in the right territories. Allocate territories for revenue potential. Place your best reps in the territories with the most potential
Quota Setting – Translate the corporate revenue goal into sales quotas that reflect territory potential. A word of caution: unrealistic quotas demoralize your sales force and cause costly turnover. Profitability suffers
Compensation Planning – Develop an incentive compensation program that attracts and retains top talent. Motivate the desired behavior while staying within budget. The process can be complicated, but necessary for talent retention.
Your competition may be winning the war by stealing your top talent. Your response is to develop a winning organization for your own company
As SBI’s Annual 2014 Research Report discusses, a comprehensive sales strategy is the difference maker. As part of that strategy, a best-in-class sales organization is critical. Download the full research report here to learn more