5 Employee Retooling Strategies For DownturnsApril 5, 2020
Hiring Virtual WorkersMay 22, 2020
“A bend in the road is not the end of the road unless you fail to make the turn.” ~ Helen Keller ~
Years ago, a wise advisor said this to me when I was experiencing a challenging time in my life. I think the advice is very appropriate today in our new pandemic landscape. Change has been thrust upon us in ways we never could imagine. Yet, business owners who adapt will be the ones who prosper as our economy starts to recover.
Most companies have cut expenses to navigate the pandemic, however, once expenses have been cut to bare bones, the only way to increase profits is to increase revenues. Your sales team will need to be operating at peak levels to make that happen. Hiring new employees may sound counter-intuitive as this present moment, yet there is no better time than now to expand or upgrade your sales team. Here are five reasons why:
1. Prepare for the rebound: Opportunities exist in ever economic downturn. The sales people you hired in the past might not be the same type of sales people you will need in the future. Create and execute a sales plan now that will adapt to the new normal and think how you want your sales team to look going forward.
2. Deep Talent Pool: Good sales people have been laid off and are looking for opportunities. After years of a tight labor market, the talent pool has deepened and businesses can hire talent that might have been out of reach in years past.
3. Beat your Competition: If you don’t hire the good sales reps available today, your competition will. It is also a great time to find employed sales reps in your industry as they may be more open minded to new opportunities.
4. Upgrade Your Team: Tolerating mediocre sales reps in the past may have been ok, but now there is little room for error. Letting go of under-performing sales reps and replacing them with sales reps who can and will sell is a strategy that will pay off in the long run.
5. Available Time: With business slower than normal for many companies, hiring managers should have more time to manage a hiring process. Once the recovery starts, everyone will be playing catch up so time will be at a premium. Candidates may also have more time right now for interviews.
There is no better time than during an economic downturn to find top talent. Whether employed or unemployed, top sales talent will explore new opportunities. And, if you have concerns about hiring new sales people until the economy picks up, at least consider sourcing, screening and evaluating sales candidates now. Identify your targeted talent and hire them when the time is right.
If you would like to explore today’s sales talent pool, give us a call at 317-578-1310. Or email us at email@example.com