To maximize ROI, businesses must focus on revenue-generating activities and ensure efficiency. This includes reducing costs, diversifying investments, and using sales assessment tests to make better hires.
Hiring new salespeople can be expensive and time-consuming, but a sales assessment test can help reduce hiring risk and increase ROI.
Identify the Right Candidates
A sales assessment is the best way to ensure a potential salesperson fits your company. It can save you valuable time and money by eliminating candidates who need to be a better fit and reducing the one-on-one interview time required to identify the right candidate.
Sales assessments can be designed to measure specific qualities such as drive, interpersonal skills, and client-facing abilities. By tailoring the questions to your company’s business model and industry, you can accurately understand how a prospective salesperson would perform in your role.
During the interview process, a sales assessment can also reveal a lot about a candidate’s personality and character. For example, candidates open to new ideas may need help closing a client deal. This can be identified by an assessment that tests a candidate’s ability to overcome strenuous objections or by asking them to role-play a client call.
Additionally, an assessment can identify red flags, such as candidates who are nonchalant about meeting sales quotas. These candidates will likely fail in a results-driven sales environment, so they will not fit your team well. This can be revealed by a question that measures their ability to handle challenging and unique objections or by asking them to role-play with an artificial client.
Reduce Retention Risk
Regardless of your sales training strategy, your goal is to increase the number of “home run” performers on your team. The highest-performing team members can drive your company’s bottom line. They can also help reduce turnover and create a positive coaching and mentoring culture.
High turnover costs your business money. Not only is there the cost of advertising and recruiting for a new employee, but there’s also the lost revenue from having an open position in your organization. Other hidden costs include a hostile work environment and poor customer service from your underperforming team members.
Hiring assessment tools can help you avoid the costly mistakes of hiring based on a candidate’s resume and interview. They are objective, data-driven evaluation techniques that remove hiring bias and enable HR teams to improve the quality of their hires.
Using a predictive assessment tool, you can visit sites such as Challengerinc.com to learn how to identify confidential information about your candidates that won’t appear in a resume, interview, or reference check. That personal information includes emotional and cognitive skills that are key to successful performance in sales. They can even identify whether a candidate is more inclined towards an optimistic or pessimistic outlook on life which is an essential factor in making a successful salesperson. By identifying these traits early in the process, you can prevent bad hires and increase your ROI on your sales talent assessments.
Reduce Hiring Risk
Bad sales hires are expensive, whether one homerun or an entire team. The costs include the time spent searching for, interviewing, and training new hires and lost revenue from missed quotas. In addition, turnover is an added expense and a drain on morale.
Most managers rely on their gut instinct to select salespeople, but studies show that hiring decisions based solely on intuition are wrong 80% of the time. Using an objective, data-driven assessment early in your hiring process removes the guesswork and reduces unconscious bias to help you make better, more informed hiring decisions.
Even if you have two candidates with similar backgrounds and experience, it can take time to decide who to hire. A superior sales assessment can identify confidential information that won’t be revealed in a resume, education, or an exploratory interview and can differentiate between them with 70-80% accuracy.
The best way to maximize your ROI is by reducing the number of bad sales hires. A good sales assessment can help you identify which candidates are likely to succeed, so you can invest your recruiting resources wisely and minimize the risk of bad hires. This also allows you to build a high-performance team by ensuring top performers are not pulled into roles that can’t perform at their peak.
Boost Performance
Using a sales assessment tool allows you to pinpoint your team’s greatest strengths and provide them with strategies to capitalize on them to meet your overall business and sales goals. Sales assessments can also reveal areas where improvements are needed to ensure that your sales team is positioned to be more successful.
A comprehensive sales assessment process will help you build a more efficient and productive team that can be trusted to deliver results and drive your company’s growth. Sales assessment solutions will provide the information and insight you need to make the right hiring decisions while reducing the risk of bad hires.
As many companies focus on hitting sales quotas, they must remember to evaluate current and potential talent. This leads to poor performance in the field, higher turnover, and a need for more marketing budget to generate more qualified leads.
Using a pre-hire assessment, you can eliminate the blind spots and biases of the job interview process. This will allow you to see the whole picture and determine if a candidate fits the role, increasing your chances of success in hiring top performers.