Sales onboarding is very important for companies in general and this is especially true for sales organizations. There are many benefits to onboarding sales reps quickly. Having an onboarding program is essential to growing a high-performing sales team.
In general, new employees who went through a structured onboarding program were 58% more likely to be with the organization after three years. Talk to the leaders of the fastest growing organizations and you will find that recruiting and retention are at the top of the priorities list. This is especially true of technology firms. Having a great sales onboarding program means that employees are ready to help your organization as soon as possible.
Here are some of the benefits of a great onboarding program.
1. Engage Employees Early
Engaged employees can significantly add to an organization’s bottom line. Studies have found that companies with engaged workforces can drive 2.5 times more revenue than their competitors that do not have engaged employees. A sales onboarding program gets the employee set-up with the tools they need to be successful starting from day one. They can understand the company’s goals and how their own goals and efforts support that. It can also give the employee exposure to many people within the organization and put them in a better mental spot from the start of their employment.
2. Decrease Turn-Over
Decreasing turnover is one of the easiest return on investment metrics to support an onboarding program. The cost of turnover in the sales department is higher than in other departments because they are also dealing with the opportunity cost of missed revenue. That cost has been estimated at 150% of the sales reps compensation.
3. Better for Sales Leaders
A formalized onboarding program means that sales leader can more efficiently use their time. The sales leader trying to run onboarding in an ad-hoc way means lots of wasted cycles and very little return on investment for future hires. It also means that they have more time to spend with existing reps. Having more engaged sales people that stay with organizations longer means the sales leader needs to spend less time on recruiting.
4. Measure the Effectiveness of Your Program
Having an ad-hoc program means it is harder to measure the effectiveness of the onboarding. A more formalized program can be more easily measured and then improved over time.
5. Onboard One or Many
It is hard for growing organizations to organize their hires into cohorts. They may need to hire 10 sales reps or they may need to hire one. Waiting to hire an employee can lead to missed revenue opportunities. Your onboarding program should be able to handle one or many sales hires at the same time. It should contain a software component that can provide economies of scale. The Lurniture solution is one such software tool that can help with onboarding tasks including product education, differentiators versus competition, and even Salesforce adoption.
Sales enablement can be an excellent tool to support onboarding for your sales team. To find out how Lurniture can help your sales team, sign-up for our demo.