... there are very few consulting firms interested in getting into the tactical aspects with their clients. We like how you worked with us on specific sales opportunities and were of REAL value by helping us close the deal. - Eric Chambois, President, Cenury Software
The real cost of a poor hiring decision
The Harvard Business School identified the cost of inferior selection of sales representatives, at 3 times the rep's annual compensation, including expenses, training, benefits, wages and commissions. Thus a $90,000 per year salary sales rep hiring mistake actually costs the company more than $500,000.
Salary - $90,000
Recruitment - $22,000
Training - $50,000
Benefits - $26,000
Commissions - $10,000
Total $198,000 x 3 = $594,000
Now add on lost opportunity, the amount of time the territory is vacant while you rehire, the damage to client relationships, etc. - and the importance of developing a rock-solid hiring process is further emphasized.