Company Improves Sales Productivity 163% in Three Months
Faced with the need to develop a more proactive sales force, one Fortune 100 financial services company implemented Dr. Barnett's Hire Performance System. Hire Performance is not only the name of Dr. Dave's newest book, Hire Performance is a systematic approach to improving sales productivity using SalesKey® technology with training focused around Dr. Dave's Principles of Sales Productivity.
Prior to implementing Hire Performance, only 19% of the third quarter (Q3) new hires were able to meet or exceed their sales goals. During Q3 of 2002, all candidates were assessed with SalesKey® and sales managers were trained to use the behavioral profile for coaching existing reps to to improve sales productivity.
Production was again evaluated at the end of Q4. After implementing Hire Performance™, 50% of Q4 new hires met or exceeded their sales quotas -- an increase of 163%. There were no other training or recruiting initiatives introduced during this period. While many factors contribute to a company's productivity, it should be pointed out that this jump in the productivity of new hires came at a time of maximum market uncertainty.
At the end of the year, those Q3 new hires who met or exceeded quota (only 19% from the previous quarter) had improved to 46% -- an increase of 142%. This improvement is made more significant by the fact that among the Q3 group, 50% saw their quotas increase by an average of 77%.
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