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Hiring the Right Salesperson for a Financial Role

 

It is important for a sales management team to understand that hiring the right people, either from a talent pool or from another organization, is especially important when operating in a specific sector.

Hiring salespeople from another organization, who come with business experience in the field and relationships with customers in the vertical, is something that is ideal for a manager.

Buying sales reps with a platinum Rolodex is just like buying a company with a solid customer base. In some cases this is a great deal for the hiring company.

A known sales rep with a solid book of business and strong client relations can carry that business to another company, but this can depend on the contractual agreements they might have with their former employer.

However, I’ve also seen many organizations who hire, from within their industry, salespeople who promise a significant level of existing business relationships, but fail to deliver. The key is to determine whether or not, if they called the people they said they were in with, if they would be able to deliver on a sale in the near future for your company.

Business owners and corporations still have to validate the legitimacy of the representatives who come in to an interview and promise to deliver on specific clients. Everyone promises things in an interview, but only some of these people are actually able to step up and deliver when it counts.

In addition, they have to decide what they are actually paying for when they hire a sales rep that brings a book of business.

A sales management team has to ask a few questions when hiring people in the financial world who try to leverage their relationships.

Am I buying their customers or am I buying a sales rep who can replicate their success at my company?
They will find, that in many cases the hiring company assumes that the rep was previously successful and will do the same for them.

However, in some cases, sales candidates will position themselves in an interview as the “Golden Child” with the golden customers who will follow them no matter where they go. While this may be true once in a while, it is more likely that they inherited accounts from others who did the work and possessed the real sales talent.

There are a couple of things you can do as a sales manager in order to ensure that you are not wasting resources on hiring someone who is not able to deliver.

Find out if they are willing to get a signed agreement from a customer that will bring their business to you once you hire them, as this will put pressure on them to deliver or admit their lack of a relationship.

Will those customers be willing to meet with you (barring any regulatory issues preventing such a meeting) and make a commitment to buy from you now that your candidate will soon be a full time employee?

I’ve seen and heard many stories of sales reps promising big clients only to fail to deliver on those promises once they were employed. Because of this practice, and the many reps who simply want to be hired at a new job, be sure to do your due diligence and verify that those clients will actually move over to your company before you present your sales candidate with an offer.

If it sounds too good to be true, then it likely is, and a little effort on the front end will save the company and the sales management staff time and money.

Image(s): FreeDigitalPhotos.net

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