Back in April, I posted an article that was actually my third in a series on Sales Longevity - the science of predicting sales turnover. In that article I provided a link to my latest White Paper on the subject and suggested that this new science would someday become a new feature in our already cutting edge Sales Candidate Assessments. Well, that day is upon us.
First, we calculate Ramp-Up, Months to Break-Even and Months to 5xROI for each candidate based on some information we collect from you. This number changes based on a candidate's own Ramp-Up Skills which we measure in a formula called Figure It Out Factor (FIOF).
Then we calculate the likelihood that you'll be able to retain a particular candidate for the months required to 5x ROI based on 5 additional factors:
- Your Sales Management Supervision
- Your Sales Compensation Method
- The Candidate's Years of Experience
- The Candidate's FIOF
- The Candidate's Sales Quotient
Just think about the implications of this! You have a very strong candidate, highly recommended but the odds of keeping him around long enough to just break-even aren't very good. Now what?
Or you have a candidate that you like, but not as strong as the previously mentioned candidate. The odds of retaining her through 5xROI are terrific. Do you hire her?
On Wednesday, August 25, I will host a Webinar at 1:30 PM ET, to unveil the new Longevity Findings in the Assessment. I hope you can join me! Click here to register for the Webinar.