by Art Waskey | Sep 18, 2024 | Art of Sales Weekly, Featured
As a Sales Manager, I learned the importance of spending time with the right people. While it is logical to focus attention on reps who may be underperforming, to help them improve results, it is equally important to acknowledge the work of your best reps.
The superstar
The greatest salesperson I had the privilege of managing complained that I didn’t praise her enough. When we made calls together, we invariably either closed new business or picked up a large order from an existing account. We clicked with decision-makers and would end most days excited and motivated. Yet, she felt I didn’t spend as much time with her as I did with some of the other lower-performing reps. My superstar was right to point this out. Here’s why.
Spend time with producers
In their book, First, Break All the Rules by Marcus Buckingham & Curt Coffman, I was reminded of the importance of giving most of your attention to those who produce. If you spend your efforts with those struggling and ignore your best performers, you can inadvertently alter the behavior of those who get you results. Remember, your stars are who they are because they have talent and drive. They deserve your best because they are your best.
Why invest in the best?
In interviews with great managers, Buckingham and Coffman were told that investing in their best was,
- the fairest thing to do,
- the best way to learn; and
- the only way to stay focused on excellence.
Lesson learned
“When you see your stars acting up, it is a sure sign that you have been paying attention to the wrong people and the wrong behaviors”, say Buckingham and Coffman.
A lesson learned. Invest more time with your best because they are deserving of it.
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by Art Waskey | Sep 11, 2024 | Art of Sales Weekly, Featured
One of AI’s greatest advantages is its ability to significantly reduce the time required for routine processes. By automating tasks such as order processing, data entry, workforce scheduling, and forecasting, AI enhances efficiency and accuracy. Identify areas with repetitive tasks and high labor demands, and let AI streamline these processes to boost productivity and reduce operational costs.
Also, I recently attended a Distribution Strategy Group (DSG) webcast on “The Role of AI in Digital Transformation”. In the webcast, panelists Alex Witcpalek, CEO of Continuum.ai, and Jared Helenic, Senior Account Manager at Infor, reviewed the three most commonly used applications for AI today.
Three common uses of AI
- Automation of routine tasks – One of AI’s greatest advantages is its ability to reduce the time it takes to complete routine processes. However, tasks such as order processing, data entry, workforce scheduling, and forecasting can be automated with AI. Look for areas that are routine and have high labor demand. Let AI take over these processes.
- Customer engagement – Intelligent chatbots can handle customer order processes. Powered by AI, can provide information on when an order is picked up, on a delivery truck, or at your dock. This type of AI improves customer engagement and can replicate many of the functions of a tenured account rep. Also, intelligent chatbots can handle traditional rep responsibilities like quotes, proposals, recommending the right part, and pricing.
- Product offering expansion – The use of AI is critical to expanding the scope of product information management. Independent distributors must incorporate omnichannel product sourcing to remain relevant with existing alternative internet channels. Lastly, by enabling you to expand your product offerings, AI allows you to provide a consistent brand experience. Customer can do one-stop shopping at your expanded site.
A catalyst
AI is the catalyst and is rapidly emerging a disruptive force changing the way businesses are executed. Ask yourself how you want AI to help you maintain a competitive edge. Use AI to automate routine functions, improve customer engagement, and expand product offerings. In conclusion, these three common AI applications lead to success in today’s business environment.
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by Art Waskey | Aug 30, 2024 | Uncategorized
Employee turnover on the rise
There is growing concern that employee turnover is once again on the rise. A recent survey published by Resume Builder found that nearly three in 10 full-time workers are likely to quit their jobs in 2024 (ResumeBuilder.com). One thousand participants were surveyed to find out how many people have their sights set on quitting this year. Given this trend, Distributors need to focus on employee retention.
Why are they leaving?
Why are people planning to quit their jobs? Julia Toothacre, career strategist at Resume Builder, said “Younger workers tend to switch jobs at a higher rate because they are trying to determine what type of function, industry, and environment would work best for them.” The Resume Builder survey found that workers are quitting their jobs over low pay (56%), overly stressful work environments (43%), and the desire for better benefits (44%).
Focus on these 3 areas regarding employee retention
1. Pay
“Right now, employers have the most power when it comes to pay,” Toothacre said. The tech industry layoffs have flooded the market with certain functions, leading to an influx of candidates for organizations depending on the organization.
2. Environment
The culture of a company is developed from the top of an organization. You need to understand the work environment you have created. Also, get external assessments to ensure you are projecting a healthy culture. Create 360 reviews where managers can see and understand gaps in relationships. If a manager has a high report turnover, recognize it early and make adjustments.
3. Benefits
Reassess your compensation plan. In today’s social media climate, job-hoppers are well aware of the benefits companies offer. Make sure your employment package is competitive in your market.
Employee retention
Lastly, If a person enjoys their job, they will hold onto it. As an employer, you must strive to keep your staff, particularly your young talent, from becoming disillusioned. In addition to offering fair pay, competitive benefits, and a positive work environment, be sure to recognize your employees’ unique talents and gifts.
Positivity brings positive results in retaining employees.
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by Art Waskey | Aug 21, 2024 | Art of Sales Weekly, Featured
As I consult with distributors around the country, I hear a lot of discussion and concern about employee turnover. One executive noted that she felt like she was experiencing the Great Resignation of 2021 all over again. I decided to look into the issue to see if her experience was widespread. Here’s what I learned.
The data on desertion
In her recent article in USA Today, Sara Chernikoff discusses the likelihood of another big wave of resignations in the US. She writes, “The trend of employees resigning en masse has slowed down in the past two years, but some experts forecast another by the end of the year.”
In 2021, 68.9 million workers left their jobs, 70% voluntarily according to Grant Thornton Consulting. The firm also found that over 20% of American workers took a new position in 2021 — and 40% of those are already looking for new jobs. Xactly Corporation, a leading provider of sales performance management solutions, reports that sales organizations experienced 58% higher voluntary turnover in 2021 than in 2020. The U.S. Bureau of Labor Statistics found the professional and business services industry (which includes B2B sales) had the fifth-highest employee turnover rate in 2021.
How to Get Them to Stay
Where are workers going and how can you get them to stay? It appears that job hopping plays a big role in employee turnover. Distributors need to recognize this issue and take responsibility for retention. Employee attitudes have shifted. Millennials and Generation Zs are comfortable with job hopping. Also, they are not afraid to change jobs often to advance. Managers need to work on incentives and use fresh approaches to retain employees.
Provide a career path
One of the surest ways to retain employees is to provide a solid career path. Make sure you offer internal opportunities for job growth. Without clear career paths, employees feel like there’s no room for upward mobility. Address this issue by providing meaningful time for them to communicate personal career goals. Lastly, offer and invest in training to fill the gap in their growth. These measures will stem the tide of employee turnover.
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by Art Waskey | Aug 14, 2024 | Art of Sales Weekly, Featured
Togetherness breeds success. In their book, Who Not How, Dan Sullivan and Benjamin Hardy discuss how to use teamwork to your advantage. They describe how bringing the right person or persons — referred to as Whos— into your sales process helps you achieve faster and better results.
Commitment to results
You need to team up with the right Whos. These are people committed to and invested in results, according to Sullivan. One of my Whos was invaluable in making my dream of earning a Master of Ministry degree a reality. He was the Adult Ministries Pastor at my church and recognized my passion and ability to teach. As a Doctor of Theology, he became my teacher. He challenged me, helped clarify my goals, and got me committed to results.
Produce a return on investment (ROI)
Sullivan emphasizes that it’s important to focus on Whos as an investment, rather than a cost. When examining How to achieve your goals people tend to base their decisions on cost avoidance. You can create transformational relationships in which all parties give more than they take by looking at your Whos as an investment.
As an example, I work with a client who developed two analytical software products. He recognizes the value of his products to produce a significant ROI. He is a Who. One of his clients noted this and rather than trying to solve needed penetration into one of his customer sectors as a How, he invested in my client as a Who. This produced results faster and with greater profit.
Build relationships that work
For collaboration to succeed you need to build meaningful relationships that are transformational, rather than transactional. According to Sullivan, “Collaboration transforms the initial intent of the project into something surprisingly better and more impactful than you would have planned on your own. By expanding your vision, your Freedom of Purpose also expands.”
Succeed Together
As Hellen Keller said; “Alone we can do so little; together we can do so much.” Every time you encounter a roadblock, ask yourself the question, “Do I need a Who, who can help me with my How” to move me forward? Remember — togetherness breeds success.
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