New research from Gong identifies five critical areas sales leaders need to focus on for strong retention
PALO ALTO, Calif., April 6, 2022 /PRNewswire/ — After two years of adapting to a new way of working and a renewed awareness of the importance of professional and personal happiness, sales professionals continue to be very active participants in the Great Redesign. . Nearly 50% say they have looked for a new job in the past six months, with many reps reporting issues with motivation, maintaining work/life balance and mental health as top concerns. Gong’s new Reality of Sales Talent study released today includes these and other findings, including the role money plays — and doesn’t play — in attracting and retaining sales talent.
Exploring the ways the global pandemic has changed selling, the study asked more than 330 sales professionals what motivates them, the challenges they face and their preference for working in the office or remotely. The study also provides sales managers with an action plan to retain employees through motivation. Among the discoveries:
Show me the… mission!
45% of sales professionals said they had actively looked for a new job in the past six months.
Financial compensation plays an essential role in to attract successful salespeople. But a company’s mission, outlook and culture play a bigger role in to hold onto sellers.
The importance of motivation and coaching
Staying motivated is the top challenge facing sales professionals, with Millennials more than twice as likely to report motivation as their biggest challenge compared to Gen Xers and baby boomers.
Three non-financial factors – difficulty staying motivated (17%), mental health (13%) and work/life balance (10%) – topped the top five challenges faced by sales professionals.
Among sales professionals who have actively searched for a new job in the last six months, only 32% say they receive the right level of coaching to succeed.
Remote work and selling are here to stay
75% of sales professionals say they prefer to work from home. Over the past six months, the majority of sales reps (72% of all respondents and 81% of top performers) said they spent less than a quarter of their time in the office.
Despite the rise of distance selling, productivity ranked last on the list of challenges faced by sales reps.
“It’s a red flag for revenue teams,” said Ryan Longfield, Gong’s Chief Revenue Officer. “Sales leaders who think compensation is the only motivation to keep sales reps engaged will continue to experience massive talent outflows. They need to consider the new motivational challenges presented by remote work and focus on the well- being and the long-term happiness of their employees.”
The drivers of motivation
To help sales managers meet the challenge of motivation, Gong has developed the Motivating factors, a 5-pronged approach to attracting, hiring, developing and retaining a team of world-class salespeople. The framework builds on the data captured in the survey and provides insight into what motivates sales professionals at each phase of the talent lifecycle. The full report and Motivating factors maybe downloaded here.
The Reality of Sales Talent survey was conducted in January 2022 with 332 business-to-business sales professionals across North America, Europeand Asia. This is the first in a series of data-driven reports Gong will publish on the strategic priorities of revenue leaders in 2022.
Gong unleashes reality to help people and businesses reach their full potential. The Gong Reality Platform™ empowers customer-facing teams autonomously to leverage their most valuable assets: customer interactions, which the Gong platform captures and analyzes. Gong then delivers insights at scale, enabling revenue and go-to-market teams to determine the best actions for repeatable winning results. Over 3,000 innovative companies like Morningstar Inc., Paychex, LinkedIn, Shopify, Slack, SproutSocial, Twilio, and Zillow trust Gong to power their business reality. For more information, visit www.gong.io.
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