Running a successful business requires leaping over hurdles on a daily basis. At the top of the list of headaches for small businesses is the hardship that comes along with a bad hire.
The fallout of a bad hire is beyond just the monetary investments, which are still significant: wasted salary, tax withholdings, training expenses, etc. Then you add to that the long-term damage that can come from negative productivity and the disruption of corporate culture. The Harvard Business Review stated that as much as 80% of employee turnover is due to bad hiring decisions. Small businesses are particularly affected by bad hires as they cannot absorb the costs of the employee turnover the way that enterprise businesses can. Instead, the damage is multiplied ten-fold when it comes to a bad hire in your sales team.
What to do?
The key to success hiring is having a repeatable hiring process. From the book, The Sales Acceleration Formula, Mark Roberge shared the process he developed at Hubspot for putting a sales team together:
Step 1: Establish a Theory of the Ideal Sales Characteristics
Step 2: Define an Evaluation Strategy for Each Characteristic
Step 3: Score Candidates against the Ideal Sales Characteristics
Step 4: Learn and Iterate the Process
The most important asset any business or any organization has is its people. Are you thinking about investing in tools and processes to prevent any more bad hires? Talk to us.