High turnover can stem from a number of different causes, but the results are always the same: increased costs, stress and inconvenience for a manager and an entire team.
Here are some of the top causes of high turnover and how to address them.
The Cause: Noncompetitive Compensation
Even if salaries are competitive, a weak benefits package can cause sales and marketing talent to seek work from a company that provides more robust coverage for health concerns, sick leave and retirement.
The Cure: Rethink Benefits
Talk to your recruiter about how your salary and benefits packages stack up against those of competitors. Rearranging the constellation of benefits can help ensure your top talent has the support they need to build a career with your company.
The Cause: A Culture of Negativity
Sales and marketing professionals often enjoy a healthy sense of competition – but the keyword is healthy. When competitiveness, gossip or professional jealousy become toxic, your top talent will head for healthier waters.
The Cure: Adjust Attitudes
Start by taking an honest look at the way the team’s leadership condones or encourages toxic behaviors. Do you hear gossip but let it slide? Did your well-intentioned monthly competition turn into a battleground?
Look for ways to dial down the stress and encourage more effective teamwork. For instance, it may be time to de-emphasize results in favor of emphasizing processes, or you may need to have a tough conversation with a team member who instigates drama.
The Cause: Lack of Training
Lack of training produces excessive amounts of stress in nearly any professional, and sales and marketing staff are no exception. Without the right training and information, staff feel ill-equipped to do their jobs, leading to increased stress and a higher risk of burnout.
The Cure: Think “Thorough”
Often, inadequate training occurs when managers want to get new staff on the floor right away. Instead, focus on providing thorough training and onboarding. The time spent in ensuring all the bases are covered will easily be recouped when your well-trained staff member are able to get up to full speed more quickly.
The recruiters at SMR Group specialize in helping our clients in the biotech, medical device and pharmaceutical industries connect with sales and marketing professionals that offer a great fit with their current team and their company’s overall vision and values. Contact us today to learn more.