Survey Finds the Need for Professional Development and Better Pay are the Top Reasons Sales Reps Leave Their Jobs
05 Aprile 2017 - 2:30PM
Business Wire
New Research from the Sales Management
Association Uncovers Need for Better Sales Onboarding, Coaching,
and Training Processes
Xactly (NYSE:XTLY), a leading provider of cloud-based incentive
solutions, today announced new research highlighting the need for
businesses to increase their sales coaching, training, and
development to lower rep turnover and raise performance. Conducted
by the Sales Management Association and sponsored by Xactly, the
survey found that inadequate professional development and better
paying opportunities are the top two reasons that reps voluntarily
leave jobs.
“The survey findings validate that you need more than
compensation to attract, retain, and keep your sales reps
performing successfully,” said Steve De Marco, VP Worldwide Sales
and Alliances for Xactly Corporation. “While compensation remains a
priority, today’s companies must also invest in the professional
development of their salespeople to reduce sales turnover and get
reps to productivity faster.”
In conjunction with the research findings, Xactly today also
released an infographic about the causes and costs of sales
turnover: “Can’t Keep Your Top Sales Reps? Is it You or Is it
Them?”
“A large majority of companies are dissatisfied with their
success rates for new salespeople,” said Bob Kelly, Chairman of the
Sales Management Association. “However, by directly linking
training and coaching to sales achievement, the survey also clearly
reveals to management their best opportunity to improve performance
and retention.”
Retention Increases Length of Rep Productivity
According to the survey, less than half of organizations are
satisfied with their sales rep retention, and salespeople take, on
average, 12 months to be successful. By retaining reps longer,
organizations have a greater ability to increase and extend the
productivity of their sales teams. Xactly’s own data software
Xactly Insights™ is based on 12 years of anonymous and aggregated
pay and performance analysis, and shows companies paying at the
75th percentile or higher have 50% less sales turnover.
Additional survey findings included:
- 71% of salespeople who leave firms in a
given year do so voluntarily
- The two factors most important to
retaining salespeople are: organizational culture; and coaching,
training, and development
- Organizations consider less than one
out of five new sales hires added over the past 24 months to be
successful
- Firms that provide clear performance
objectives and well-defined onboarding programs achieve sales
objectives 8% more than firms that don’t
- Firms effective at training, coaching,
and development achieve sales objectives 17% more than
non-effective firms
On-Demand Webinar Focuses on Survey Findings
The Sales Management Association and Xactly co-hosted a webinar
to give organizations greater insight on the findings. The webinar
also discusses how organizations can improve rep retention through
the use of innovative onboarding, coaching, and training tools,
including Xactly Inspire™ software. View the webinar on-demand
here.
See Xactly at CompCloud 2017: May 16-18 in San
Francisco
Register today for CompCloud 2017, the premier incentive
compensation and sales performance event of the year,
#inspireamazing #xactlylovesme.
About Xactly
Headquartered in San Jose, California, Xactly (NYSE:XTLY) is a
leading provider of enterprise-class, cloud-based, incentive
compensation solutions for employee and sales performance
management. Named a leader in Gartner’s Magic Quadrant for Sales
Performance Management software, Xactly addresses a critical
business need to incentivize employees and align their behaviors
with company goals. Our products allow organizations to make more
strategic decisions, increase employee performance, improve
margins, and mitigate risk.
Our core values are key to our success, and each day we’re
committed to upholding them by delivering the best we can to our
customers. To learn more about Xactly and the latest issues and
trends in SPM software, follow us on Twitter, Facebook,
and subscribe to the Xactly blog.
©2017 Xactly Corporation. All rights reserved. Xactly, the
Xactly logo, Xactly Insights, and “Inspire Performance” are
registered trademarks or trademarks of Xactly Corporation in the
United States and/or other countries. All other trademarks are the
property of their respective owners.
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version on businesswire.com: http://www.businesswire.com/news/home/20170405005265/en/
Blanc & Otus Public RelationsKristin Reeves,
415-856-5145kristin.reeves@blancandotus.com
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