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Posts Tagged ‘Economy’

Hire Slow, Fire Fast?

11/12/2009 1 comment

Does it really have to be that way? Sure, there are lots of management courses that suggest that the old “Hire Slow, Fire Fast” process is a best practice, but there are plenty of things that have to have to go right along the way. Hiring slow the right way can make firing fast a non-issue. If so, then starting the process right pays huge dividends

Is everyone suddenly a Super Star in their own minds?

Using a proven methodology to select long term, successful hires that can and will sell ends the merry-go round practice that has become acceptable for many sales organizations.  The “hire three, keep one” stories exist in any economic condition, but with so many resumes touting a career as a top producer hitting the streets now, this practice can be even riskier. When you read these submissions it is truly hard to believe that such high producers and proven winners ever got let go at all. How did so many all-stars meet the fate of down-sizing all at the same time?

Don’t be duped

With everyone claiming they are competent, your process must include some tools and practices that separate the wheat from the chaff. Stop trusting your gut and intuition. No one’s resume says they performed poorly or got axed by an unappreciative manager, so buyers beware. Do the right thing and get some outside help. If two heads are better than one, get a second head or at least an instrument that can validate your gut feeling.  Slow down and make a selection that will last. It can’t be any worse than doing it all by yourself.

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One of the hardest things a sales manager has to do …

Telling the truth is often one of the hardest things to do in sales management. When the economy tanks and everyone’s excuses seem to make so much sense, a sales manager’s job gets tougher every day. When the parade of struggling producers marches through your office and tells you all the sob stories about why no one is buying, why price is all that matters and that even your biggest competitor is off 40%, even the toughest task master can find it hard not to be sympathetic.

So what’s the problem?

And that would all make more sense if you didn’t have two or three guys or gals that seem to be getting the job done under the same conditions. For some reason there is often a couple of people that never seem to get caught in the morass of self pity and resignation that afflicts so many others. When that happens someone has to step up and tell it like it is, and if you are the sales manager, that is going to be you.

The truth is that some folks just don’t want to be responsible for where they are and what they are doing … or not doing. And the other truth is that some managers don’t want to be responsible for selecting or keeping these folks either. It’s time to decide; are you going to believe the winners, or are you going to allow the others to make or break your commitment to get it done? Tell the truth.

It isn’t easy

Selecting and keeping reps that resist making excuses and that are self responsible isn’t easy. It’s human nature to want to defend performance that is less than expected. But accepting excuses implies permission to do it more, and that is usually what happens. And that leads to a whole array of other trouble. If you want to know more, drop us a line and we’ll tell you how to train that habit out of your sales team. Otherwise, go out and Google “Excuses” and you’ll find a number of good books like “Let’s get results, not Excuses.

Economic momentum is building

An article today in the Washington Business Journal confirms my belief. How about yours?
Federal Reserve Board Chairman Ben Bernanke sees the bottoming out of the housing market slump and increasing spending by consumers as signs the U.S. economy will be on the mend later this year, although he forecasts the recovery will be gradual.

In testimony before the congressional Joint Economic Committee Tuesday, Bernanke also warned another jolt to the banking system will stall any recovery.

“We continue to expect economic activity to bottom out, then to turn up later this year,” Bernanke said. “Key elements of this forecast are our assessments that the housing market is beginning to stabilize and that the sharp inventory liquidation that has been in progress will slow over the next few quarters.”

The forecast assumes a continued gradual repair of the country’s financial system, and a relapse there could cause a recovery to stall, he said.

While a recovery is now expected to begin, the Fed’s forecast cautions that the rate of growth is likely to remain below its longer-run potential for awhile. Businesses will likely put off hiring, meaning unemployment will remain high even after economic growth resumes.

Bernanke also believes inflation will remain low for some time.

A report Tuesday from the Institute for Supply Management showed U.S. service industries, which make up 90 percent of the economy, contracted at the slowest pace in six months in April, seen as another sign the recession is nearing an end.

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