There are few things as demoralizing as high-performing employees leaving your business after just a couple of years. And for business development and bid teams, the cost of recruiting and training a replacement can be even more upsetting.
Employee retention is a big challenge for businesses - especially in the tech, healthcare and professional services industries - but there are some basic principles that can help you retain high performing sales and bid professionals.
1. Proof that you know what motivates them (it's not all about the money)
It's well known among psychologists and researchers that people who have high intrinsic motivation (i.e. they are driven by internal rewards and satisfaction) perform better than those offered high extrinsic motivation (i.e. external rewards like money).
And yes, this applies to sales professionals, too. Research shows that, if managers can help their employees find intrinsic motivation, they will become happier, more productive, add more value to the business, and be less likely to resign.
By giving your team the freedom to make their own decisions about how to work (autonomy), the opportunity to learn and master their craft (mastery), and helping them to find meaning in their work (purpose), you'll be on the path to better retention and engagement.
2. The chance to learn
Micro-learning is a new trend that seems a perfect fit for busy sales and bid professionals. The ideas is that, by using a Learning Management System (LMS) and various other learning formats, you offer employees the chance to upskill - in small chunks at any time.
For example, a sales team could be given access to an interactive online training module that offers 10 - 15 minute workshops on various sales techniques.
This makes learning accessible, doable, and trackable (which means it can form part of performance reviews).
3. The tools they need to do their jobs well
If your employees are fighting against your technology every day, they'll easily be attracted by competitors with sleek technology and automated processes.
We have all become accustomed to using powerful technology in our personal lives, which makes it even more frustrating when you are forced to use outdated technology and follow manual procedures.
Have you tried the Qorus Content Hub?
Give your sales and proposal teams instant access to the content they need to quickly connect and sell to customers, with the Qorus Content Hub.
- Shorten sales cycles and improve win rates
- Make it easy to incorporate your content into their sales and marketing process
- Track what content is being used and how it’s used
- Improve marketing content value and impact
- Reach more customers, more effectively
- Spend time with your customers, not on content preparation