{"id":2226,"date":"2010-01-06T11:20:00","date_gmt":"2010-01-06T17:20:00","guid":{"rendered":"http:\/\/selectmetrix.com\/blogs\/2010\/01\/retention-horizon\/"},"modified":"2010-01-06T11:09:31","modified_gmt":"2010-01-06T17:09:31","slug":"retention-horizon","status":"publish","type":"post","link":"http:\/\/selectmetrix.com\/blogs\/2010\/01\/retention-horizon\/","title":{"rendered":"Retention Horizon"},"content":{"rendered":"<p>Employment in this economy is a wonderful asset, to say the least.\u00a0 However, <a href=\"http:\/\/abcnews.go.com\/Business\/wireStory?id=9478224\" target=\"_blank\">this abcnews.com story<\/a> points to an impending problem \u2013 retention.<\/p>\n<blockquote><p>Even Americans who are lucky enough to have work in this economy are becoming more unhappy with their jobs, according to a new survey that found only 45 percent of Americans are satisfied with their work.<\/p>\n<p>That was the lowest level ever recorded by the Conference Board research group in more than 22 years of studying the issue.<\/p><\/blockquote>\n<p>The economy will eventually turn around though it appears it is going to be a slower process in comparison to historical recoveries.\u00a0 When it does turn and hiring picks up, there is going to be a tremendous push for retaining top sales performers.<\/p>\n<p>I have talked to top salespeople recently who are not satisfied with their current position, but they are unwilling to make a change right now.\u00a0 Interestingly, I have had a few of them contact me to get their oar in the water for when hiring picks up again.\u00a0 At that point, they will use their sales prospecting skills to find a new opportunity for themselves.<\/p>\n<p>The key to improving retention is understanding the salesperson\u2019s <a href=\"http:\/\/www.selectmetrix.com\/Assessing_Motivations.html\" target=\"_blank\">motivations<\/a> and identifying their <a href=\"http:\/\/www.selectmetrix.com\/Assessing_Rewards.html\" target=\"_blank\">reward structure<\/a>.\u00a0 Here is an example of how it works \u2013 if you have a salesperson who has a strong <a href=\"http:\/\/www.selectmetrix.com\/Assessing_Motivations\/Utilitarian.html\" target=\"_blank\">Utilitarian<\/a> motivation (hopefully you do), they are driven by return on investment.\u00a0 They will appreciate practical, efficient workplaces that assist them in their quest to close deals.\u00a0 A sales department rife with gross inefficiencies will grate on this salesperson.<\/p>\n<p>Now that you know their motivation, it is important to understand what rewards them.\u00a0 Here is a fine point, but an important one.\u00a0 If your salesperson is rewarded by <a href=\"http:\/\/www.selectmetrix.com\/Assessing_Rewards\/Material_Possessions.html\" target=\"_blank\">Material Possessions<\/a>, you can expect them to respond to money so they may acquire the possessions they desire.\u00a0 This seems logical.<\/p>\n<p>However, if you have a Utilitarian salesperson rewarded by <a href=\"http:\/\/www.selectmetrix.com\/Assessing_Rewards\/Status_Recognition.html\" target=\"_blank\">Status &amp; Recognition<\/a>, their will respond more to titles, exclusive clubs (President\u2019s Club) or money that they can use to gain access to a higher status (e.g. private golf club membership).\u00a0 Both salespeople will appear to have similar reward structures, but they respond differently based on their deep-seated structures.<\/p>\n<p>If you are interested in learning more about your team, please <a href=\"http:\/\/www.selectmetrix.com\/Contact_Us_Main.html\" target=\"_blank\">contact us<\/a> at your convenience.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Employment in this economy is a wonderful asset, to say the least.\u00a0 However, this abcnews.com story points to an impending problem \u2013 retention. Even Americans who are lucky enough to have work in this economy are becoming more unhappy with their jobs, according to a new survey that found only 45 percent of Americans are satisfied with their work. That was the lowest level ever recorded by the Conference Board research group in more than 22 years of studying the issue. The economy will eventually turn around though it appears it is going to be a slower process in comparison to historical recoveries.\u00a0 When it does turn and hiring picks&hellip; <a class=\"read-more\" href=\"http:\/\/selectmetrix.com\/blogs\/2010\/01\/retention-horizon\/\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"bgseo_title":"","bgseo_description":"","bgseo_robots_index":"","bgseo_robots_follow":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[23],"tags":[1490,1491,152,1766,153,1145,1765],"class_list":["post-2226","post","type-post","status-publish","format-standard","hentry","category-retention","tag-2010-trend","tag-employee-reward","tag-motivation","tag-retention","tag-sales-motivation","tag-sales-reward","tag-turnover"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p5Oho-zU","jetpack-related-posts":[{"id":1401,"url":"http:\/\/selectmetrix.com\/blogs\/2008\/02\/retention-in-a-slow-economy\/","url_meta":{"origin":2226,"position":0},"title":"Retention In A Slow Economy","author":"Derrick Moe","date":"February 4, 2008","format":false,"excerpt":"A statistic from the Career News newsletter (sorry, no link): One in four U.S. workers is resolving to get a new job this year. The survey found that 26 percent of employed Americans said they will look for a new job in 2008. I thought that number seemed somewhat low\u2026","rel":"","context":"In &quot;Retention&quot;","block_context":{"text":"Retention","link":"http:\/\/selectmetrix.com\/blogs\/category\/retention\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2445,"url":"http:\/\/selectmetrix.com\/blogs\/2010\/10\/chipotle-rewards-and-retention\/","url_meta":{"origin":2226,"position":1},"title":"Chipotle Rewards And Retention","author":"Derrick Moe","date":"October 13, 2010","format":false,"excerpt":"Retention does not seem to be a topic of great concern in this present economy.\u00a0 However, the economy will turn and hiring will accelerate.\u00a0 When this happens (hopefully sooner rather than later), retention will become a key topic for many companies. In a surprising story, CNNMoney.com provides a brief description\u2026","rel":"","context":"In &quot;Retention&quot;","block_context":{"text":"Retention","link":"http:\/\/selectmetrix.com\/blogs\/category\/retention\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1764,"url":"http:\/\/selectmetrix.com\/blogs\/2008\/10\/recession-retention\/","url_meta":{"origin":2226,"position":2},"title":"Recession Retention","author":"Derrick Moe","date":"October 27, 2008","format":false,"excerpt":"The economy is foremost on almost every business leader's mind right now, and rightly so.\u00a0 Many leaders look to entrench their company in a full defensive posture.\u00a0 This approach has to be incorporated, to some extent, during these economies.\u00a0 However, this is an excellent time to be aggressive in the\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"http:\/\/selectmetrix.com\/blogs\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":160,"url":"http:\/\/selectmetrix.com\/blogs\/2006\/07\/right-rewards-for-a-money-motivation\/","url_meta":{"origin":2226,"position":3},"title":"Right Rewards for a Money Motivation","author":"Derrick Moe","date":"July 8, 2006","format":false,"excerpt":"Money motivation amongst salespeople is one of the most misconstrued points in successful sales management and hiring. At the risk of splitting hairs, motivation needs to be separated from reward. This distinction is the key to differentiating between what motivates strong salespeople - money - and what rewards them. This\u2026","rel":"","context":"In &quot;Hiring Salespeople&quot;","block_context":{"text":"Hiring Salespeople","link":"http:\/\/selectmetrix.com\/blogs\/category\/hiring\/hiring-salespeople\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2447,"url":"http:\/\/selectmetrix.com\/blogs\/2010\/10\/roe-over-roi\/","url_meta":{"origin":2226,"position":4},"title":"ROE Over ROI","author":"Derrick Moe","date":"October 19, 2010","format":false,"excerpt":"Here is a somewhat ethereal concept I have been encountering in this present economy.\u00a0 It starts with this \u2013 return on investment (ROI).\u00a0 ROI has been the backbone of sales since time immortal.\u00a0 This is the basis of sales in that customers pay the money to receive the solution.\u00a0 As\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"http:\/\/selectmetrix.com\/blogs\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1226,"url":"http:\/\/selectmetrix.com\/blogs\/2007\/10\/sales-management-top-down-or-bottom-up\/","url_meta":{"origin":2226,"position":5},"title":"Sales Management &#8211; Top-Down or Bottom-Up","author":"Derrick Moe","date":"October 8, 2007","format":false,"excerpt":"Here is a sales management question for you - in terms of coaching and developing your sales team, is it best to focus on your top performers to make them better or your bottom performers to build them up? I have recently read articles that argue from each side of\u2026","rel":"","context":"In &quot;Retention&quot;","block_context":{"text":"Retention","link":"http:\/\/selectmetrix.com\/blogs\/category\/retention\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"jetpack_featured_media_url":"","_links":{"self":[{"href":"http:\/\/selectmetrix.com\/blogs\/wp-json\/wp\/v2\/posts\/2226","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/selectmetrix.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/selectmetrix.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/selectmetrix.com\/blogs\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/selectmetrix.com\/blogs\/wp-json\/wp\/v2\/comments?post=2226"}],"version-history":[{"count":1,"href":"http:\/\/selectmetrix.com\/blogs\/wp-json\/wp\/v2\/posts\/2226\/revisions"}],"predecessor-version":[{"id":2227,"href":"http:\/\/selectmetrix.com\/blogs\/wp-json\/wp\/v2\/posts\/2226\/revisions\/2227"}],"wp:attachment":[{"href":"http:\/\/selectmetrix.com\/blogs\/wp-json\/wp\/v2\/media?parent=2226"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/selectmetrix.com\/blogs\/wp-json\/wp\/v2\/categories?post=2226"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/selectmetrix.com\/blogs\/wp-json\/wp\/v2\/tags?post=2226"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}<!-- WP Super Cache is installed but broken. 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