A bad sales hire with a $100,000 base salary can cost a company in excess of $1.5 million in revenue, said Randy Street, co-author of Who: The A Method for Hiring, a hiring strategies handbook. These losses stem from costs such as training, salary, benefits and severance as well as missed business opportunities, errors and the disruption a poorly performing salesperson creates in a sales team, Street told FINS.
We get it.
That’s why so many companies want to hire people who have already done the same job. But, hiring well is only part of the recipe for talent management success. According to Business Training Library, “60% of frontline managers fail within the first two years in their role. 26% felt they were not ready for the role, and 58% reported receiving no management training.
What can you do to turn these numbers around in your organization especially among managers who have a large influence on the engagement of their staff?
Economical E-learning management training video courses or management video training DVDs can help support your training efforts. They don’t cost a lot of money especially when you think of the cost of not turning around a failure. E-Learning bursts that take as little as 15 minutes can help teach managers important skills and shorten the time needed for in-classroom classes.
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