A case study focusing on the implementation and results of a Talent Management project.

1. Website Email Phone
www.salesbenchmarkindex.com info@salesbenchmarkindex.com 1-888-556-7338
Talent Management
A Case Study
The names have been blinded to protect the previously underperforming

2. Overview
What is Talent Management?
• Identifying, hiring, onboarding and developing A player sales
reps & managers
What does a Talent Management program do?
• Provides the ability to evaluate current talent, new candidates
and gaps in sales rep & manager onboarding
What does it mean to implement Talent Management?
• Hire only A player candidates and support the shortest ramp
to full sales productivity
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3. Objectives
Three key client business objectives of Talent
Management:
1. Hire- “A” players
2. Get the reps productive quickly
3. Identify potential and develop current
performers
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4. ACME Corp. Business Challenge
• Initial Sales Performance Benchmark reveals Talent Management
related issues
• No Divisions examined were hitting their number
Division Division Division Division Division
A B C D E
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5. Acme Talent Management Results
• Overall talent shift in the sales force moved
from 63% to 91% for “A” and “B” Players
• Topgrading approach identified and hired top-
performing talent
• New OnBoarding program brought new reps
to full productivity much sooner than
previously
• ACME Corp. is approaching World-Class status
for quota attainment
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6. Success Equals?
50% Talent
+
50% Performance
Conditions
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7. So…. What if you had
ALL “A” Players?
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8. Business Impact of improving rep
performance
Improving the performance of:
1 “B” Player to “A”
or
1 “C” Player to “B”
=
Increased sales 1.5M to 3M widgets/year
@ $3 / widget = $4.5M to $9M/year per representative
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9. Identify Current Talent Pool
C+ B+ A+
Underperformer Diamond in the Rough Star Power
Use PIP to capture Problem Emerging Leader Invest heavily in development
High
Redeploy or Dismiss Development Plan & Coach Reward & Recognize
C B A
Red Flag Competent Superior Performer
If <90 days, PIP Solid Performer Very strong in current role
Potential
If >90 days, Dismiss 12-18 months to move up/down Give stretch assignments
C- B- A-
Career Liability (Yours) Fading Performer Valuable Contributor
Not worth further investment Strong fundamental but not
Dismiss Immediately
Low willing/able to advance
Move to ‘C’ status and issue PIP
Ensure adequate reward
Low High
Performance
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10. Talent Assessment Results
• 37% “C” players & 53% “B” players on total score
– Several transfers
– Little to no onboarding program
• 19% “C” players for competencies & 35% on
accountabilities
• Significant gap in core selling skills (41% “C” players)
• Opportunity to raise “B” players & some “C” players
– Providing sales tools, onboarding, coaching and structured
approach
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11. Assess Individual Competencies and
Identify Skills Gaps
Rating Benchmark
Area Individual Competency Definition Gap
(1 - 6) (1 - 6)
Handling different sales scenarios; setting agenda; following complex sales process guidance; presenting
1. Sales Approach 4 4.5 (0.5)
company value propositions
Demonstrating grasp of those methodologies relevant to the business; applying different pricing
2. Pricing Methods techniques to proposed solutions; ensuring sales reps are following corporate pricing guidance; frequency 3 3.9 (0.9)
of requesting pricing exceptions
3. Opportunity Managing pipeline; inspecting Opportunities; accelerating campaigns; demonstrating deal ingenuity;
3 4.4 (1.4)
Management providing deal-based ideas
Handling competitive, price, resource, and risk challenges to proposed solutions; presenting responses to
4. Objection Handling 4 4.8 (0.8)
objections; gaining prospect/client acceptance to proposed solutions
Selling Skills Uses give-get frameworks; representing company interests; leaving clients, partners, and prospects with
5. Negotiating 4 4.6 (0.6)
feelings about how a deal was obtained; Convincing others of the merits of a position; achieving win-win
Develops uniquely strong customer loyalty; low-to-no customer attrition; key account executive contacts
6. Customer Focus will go to bat for him/her; generates repeat business more than peers; his patch has high customer 3 4.2 (1.2)
satisfaction/NPS scores relative to peers
7. Convert Strategy to Developing tactics to implement internal corporate sales strategy; linking customer strategic goals into
4 4.2 (0.2)
Tactics solution; embeding customer strategic goals into customized sales collateral
Adopting company policies; utilizing CRM system; adhering to sales process; understanding sales
8. Managing Processes methodologies; defining handoffs; measuring process output; providing specific governance and guidance 4 4.3 (0.3)
around process adherence
3.6 4.4 (0.7)
Gap to “A” Player status
Competency Scoring compared to World-Class Benchmark
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12. Competency group results
Analysis reveals
significant gaps
across group
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13. Recommendations
• Coach & develop Sales Managers utilizing the IDPs
• Formalize training; avoid the ad hoc training
– Reinforcement is the key to improvement
– Address areas of weakness
• Implement a sale manager training & onboarding program
(certification)
– Develop a Sales Manager developmental program as part of the ACME succession planning
(certification)
– Incorporate specific ramp to full productivity metrics (fail fast)
– Raising B players to A’s
• Upgrade or turn over B and C players
• Develop of virtual bench of candidates
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14. Implement Topgrading Talent Review
process
Provide an Individual Development
Plan (IDP) with development
recommendations
#3: Compare #4: Identify
#7: Insert the
Response which #6: Select the
CAP item into
against A/B/C Competency #5: Enter in the Career Action
#1: Review #2: Ask the IDP and
Player items have IDP the specific Planning (CAP) #8: Review IDP
Competency Scenario-based add
Characteristics largest gaps “Evidence” of item that best with employee
Definitions Questions Measurement
and rate it for and select the deficiency matches the
and Timeframe
each them for the Sales Manager
requirements
Competency IDP
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15. Movement among ranks
• Percentage of ‘A’ Players increased from 10%
to 28%
• Percentage of ‘B’ Players increased from 53%
to 63%
• Percentage of ‘C’ Players dropped from 37% to
9%..... And many of those people turned
over…
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16. SBI implemented Topgrading
methodology to hire the right people
Cost of a mis-hire is
between 5-9X total
annual compensation
Click here for our Cost of Mis-
hire calculator
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17. …and developed a solid onboarding Plan…
• Ramp time to full productivity = the time it takes for a
new employee to retire quota at a rate that exceeds
100% of their goal (usually measured in months)
Improvement equals hitting quota sooner
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18. Learn More
Contact us to hear the rest of the story...
Email - info@salesbenchmarkindex.com
Phone - 1-888-556-7338
Web: http://www.salesbenchmarkindex.com
Click here to access our Talent Management blog posts.
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