Studies document the value of programs aimed at improving performance of persons in sales
Question: My sales manager has asked me to develop an ongoing plan for individual performance improvement. Is there any real benefit to doing so? If so, how do I go about putting a plan in place that will improve my sales?
Answer: There are many reasons to consider implementing an ongoing performance-improvement plan (PIP). Most of us exercise a PIP to advance work status or salary. That’s a reasonable expectation. Let’s start by considering why you should develop a PIP and then how to do so.
The Institute for Sales Performance Improvement published that "in the 1980s and early 1990s, corporations were investing in the wrong type of capital. Capital equipment, not human capital. Human capital and human assets are terms that corporations now use to describe what they consider to be valuable to their organizations’ growth." And it goes beyond simply finding people to employ. It means finding people who add value to the organization.
The study went on to say that companies that hired those who were self-trained (meaning beyond their initial requirements or having partaken in training outside of their job scope) were better hires, adding more "long-term value to the organization."
Certainly from a results standpoint, we at Impact Sales stand behind those findings. For instance, we track results of individuals who voluntarily complete extensive sales skill development training.
On average we see a 40% increase in performance for those individuals who enroll in the curriculum because they were told to improve their performance. However, we see an average increase of performance in the same skill sets of 73% for those whom voluntarily elect to improve their performance.
So if the human asset is so valuable, what are companies willing to pay for it? You may think that if you know the technical aspects of your particular job, and are proficient in those aspects, you’re safe. But that’s no longer true. Has your own job changed since you started? Today’s "average" employee will experience seven career changes during their working life.
Following are the results of a study conducted by Impact Sales. We asked corporations of various sizes to identify the skill sets that were most important when hiring sales people.
We’ve looked at what improving your assets will do for your career and what companies look for in individuals; but what does it do for you personally? According to a survey conducted by Training, Inc., those who partake in continuing education report happier, more well-adjusted lives, not to mention more satisfying jobs and compensation. So, how do you go about improving your assets?
If you think you’re too old, too settled or too late in your career to try something new, here are some statistics that I hope will be an encouragement to you.
Marcia Gauger is the president of Impact Sales, a performance improvement and training company with offices in Wisconsin, Florida and Arkansas. You can contact her at 262-642-9610 or marciag@makinganimpact.com. Her column appears in every other issue of SBT.
Aug. 16, 2002 Small Business Times, Milwaukee
