Over the last year I’ve heard a lot about The Great Resignation. It’s a regular conversation at every CEO meeting I attend, and they are stunned that people are quitting without knowing what’s next, or that people are joining new companies with a hefty compensation increase. Some people have relabeled this as The Great Reinvention, or for others, The Great Regret. I see it as The Great Opportunity!
Why are people quitting? COVID-19 has caused people to pause and reevaluate their lives and priorities. A recent study by McKinsey identified that people want a sense of purpose in their work. They want more interpersonal connections with their coworkers and managers. They want a shared sense of identity. They want better work hours, more productive meetings, and greater flexibility. I believe salespeople want the same things.
Here is the flip side of the story. A study of 2,500 workers by job search site The Muse discovered that 72% of the folks who changed jobs experienced “surprise or regret,” while 48% said they would try and get their old job back. The Muse findings are similar to our own research that 77% of new hires say the new job was misrepresented.
Too often I see salespeople get fed up and start to fantasize how the grass is greener at another company. They start the job search eager to make a change and focus on the positives of what the potential employer is offering without digging deep into potential downsides. I have a colleague who calls this “happy ears”.
Before you decide to leave, ask yourself some key questions:
You never know until you get clear and ask for what you want.
Gen Z makes up 25% of the workforce today. They want a good benefits package, company values that match their own, to have a purpose that goes beyond profit, career development opportunities, and a company with a strong, positive reputation.
Even a small business with a little creativity and honesty can attract talented and highly motivated salespeople. How do you do that? Let’s take this one piece at a time.
You have to be competitive, but you don’t have to be the best. One of our clients offers a solid compensation and benefits package. But they also hold mandatory financial education classes each week that teach everyone about investing, leveraging their 401k, and becoming their own bank, just to name a few bonuses. This was an ongoing program for the client, and employees are thrilled that they are learning the secrets of financial independence and well-being.
A previous client was in an early growth phase and hired mostly young people because they were affordable. Their philosophy was to hire “diamonds in the rough” and invest heavily in their development. They were honest that this was a stepping stone to a bigger company but they would be well prepared for that next step and they would have fun along the way. They were very honest about the pros and cons of the job to make sure they didn’t misrepresent the position. They even had an alumni program to help employees network with previous employees who had moved on to bigger companies.
Another client was a small but growing business. They wanted to develop a culture of giving back to the community and began volunteering with Habitat for Humanity. One Saturday a month, everyone was invited to spend the day building or restoring houses at a Habitat for Humanity site. They also did monthly pizza parties and happy hours. You could feel the energy and excitement immediately when you walked in the door. It was a magical place to be. Your business could have the same excitement!
If you are a CEO, president, owner, or sales VP and are looking for additional ways to leverage The Great Opportunity, then pick up a copy of Andy Miller’s international bestselling book, "The Science of Hiring Quote Busting Sales Teams" on Amazon or click here. If you would like a free consultation, Andy Miller can be reached at amiller@BigSwiftKick.com.
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