Your Candidate Assessment Strategy USA for hiring sales talent is based on the sales outcomes you measure. You first have to identify the Key Performance Indicators (KPIs) for measuring Sales Performance. These KPIs are recorded monthly for each Salesperson and then aggregated monthly for the Sales Team. We can’t tell you exactly which sales KPIs are right for your business, but we have put together a list of KPI’s that you can consider for measuring Quality of Hire for sales:
On average, B2B sales representatives make 45 phone calls per day. 74% of sales reps say they research prospects before making sales calls. How many sales calls are made on average to generate a qualified lead?
Eight in 10 prospects prefer talking to sales reps over email. The average prospect deletes 48% of the emails they receive every day. Only 24% of sales emails are opened. Email campaigns with 4-7 emails per sequence received 3 times more responses than campaigns with only 1-3 emails in the sequence. How many emails are sent on average to generate a qualified lead?
How many qualified leads are generated per month? How does this compare to your company’s past lead generation? If this number is increasing your quality of hire for sales talent is increasing.
Lead Conversion Rate is a KPI that measures how effective the salesperson is at converting a prospective customer into a paying customer. Total New Customers divided by Total Leads = Lead Conversion Rate. How does this lead conversion rate compare to your company’s past lead conversion rate? If this number is increasing your quality of hire for sales talent is increasing.
Average length of time in days from lead created to sales close. How does this average sales cycle compare to your company’s past sales cycle? If this number is decreasing your quality of hire for sales talent is increasing.
Your sales pipeline must move people smoothly from one stage to the next. As prospects experience your sales process they make a journey of increasing trust and commitment. Customers follow a process from discovery all the way through to sales as they become returning buyers. How many qualified leads enter the sales pipeline each month? How many of those leads request or receive a demo or meeting? How many of those people request or receive a proposal? How many of those people purchase a product or service? If the pipeline strength numbers are increasing your quality of hire for sales talent is increasing.
One of the most straightforward metrics of customer retention is your company's customer churn rate. Churn refers to the rate at which customers stop doing business with you. Whether the customer has stopped renewing a service or buying a product, a churned customer is a customer that your business unsuccessfully engaged or retained. Do you attract more customers than you lose? If your Customer Retention Rates are increasing your quality of hire for sales talent is increasing.
Gross sales is the total amount of sales generated during a given period by a sales rep. If a salesperson generated $50,000 in gross sales transactions in a given month that is the amount of gross revenue generated. If your Sales Rep Gross Revenue is increasing your quality of hire for sales talent is increasing.
Net revenue more accurately depicts the money you end up collecting from sales transactions. Over the course of time, sales organizations often have product returns or cancellations. Deducting these items from gross revenue leaves net revenue. If your Sales Rep Net Revenue is increasing your quality of hire for sales talent is increasing.
Your Candidate Assessment Strategy USA for hiring sales talent will help you hire people who have the same characteristics as your top sales performers. Your candidate’s Sales Talent Assessment scores are compared to your hiring benchmarks to help guide your hiring decisions. Candidates with the highest probability of successful sales performance have an 85% or higher job match. Contact us for Sample Reports of Sales Talent Assessments.