LMI BLOG

Tips to Reduce Millennial Sales Rep Turnover

Posted by LMI Dealer Content Team on Mon, Aug 29, 2016 @ 02:49 PM

 

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As of 2015, millennials accounted for the majority of the workforce. And the fact is, many employers are still trying to adjust to the attitudes, morals, values and beliefs of this generation. To retain these technologically proficient workers, Managed Services providers need to take a more creative approach to retain them.

The oldest members of the millennial generation will turn 35 in 2016. Think about how many millennials are members of your team. You need to understand them and adopt policies to retain these valuable workers.

Let’s take a look at six ways you can embrace their values and keep them on your team for years to come.

1.  Appeal to their moral standings. 

Participate in socially responsible activities like community clean-ups and charity walks. Unlike previous generations, millennials hold employers who participate in high regard and feel a sense of pride when contributing to the community and/or the environment.

2.  Encourage full team collaboration.

Millennials want to contribute. Encourage it! This generation is the most highly educated group of young adults in US history.  No other generation has achieved the same level of higher education at such an early age. Use this to your advantage by including millennials on team projects to stimulate them and gain their unique perspective!

3.  Hire smarter.

“Hire slow, fire fast” is still the rule of the day. Interviewees are coached on how to excel in interviews and their resumes can make them look like sales superstars. To hire the best people, check references thoroughly, Google the person’s name to see their social profile and make sure to ask thought-provoking situational questions during interviews to help avoid hiring mistakes.

4.  Invest in their success.

Provide sales training that appeals to their ideals; online, on-demand, unique and filled with actionable ideas! Online training provides millennials with the sales techniques and confidence they need to excel. When millennials are engaged and gain the knowledge they need, they are much more likely to perform well and love their job.

5.  Provide them with the sales tools they need to do the job.

New millennial hires appreciate turnkey tools to show and sell when meeting with seasoned buyers instead of having to create their own. Think PowerPoint presentations, company apps on tablets etc. The more collateral you can provide, the more comfortable and confident your millennial seller will feel when presenting your products and services. 

6.  Create “stickier” sales compensation models.

Starting a millennial on 100% commission tends to increase turnover without giving new people time to understand their role. Most MSPs now offer a graduated sales compensation plan that includes a brief three – six months of salary with an accountable draw to ramp new people up in their sales position. The flexibility and accountability of an accountable draw also provides some form of guaranteed income to pay necessary bills and provide an unlimited upside as the person gains experience.

When dealing with millennials, you really do need to think outside the traditional box. By appealing to their values and engaging them in activities they enjoy, you can build a strong sales team of “new age sellers” that will stay with your company for the long haul!

Tags: Millennials