Cornell University
Library
Cornell UniversityLibrary

eCommons

Help
Log In(current)
DigitalCollections@ILR
ILR School
  1. Home
  2. ILR School
  3. ILR Collection
  4. ILR Student Works
  5. What are Some Retention Strategies that Sales Organizations in Various Industries Have Been Using to Retain Sales Reps Aside from Compensation?

What are Some Retention Strategies that Sales Organizations in Various Industries Have Been Using to Retain Sales Reps Aside from Compensation?

File(s)
What_Are_Some_Retention_Strategies_That_Sales_Organizations.pdf (587.54 KB)
Permanent Link(s)
https://hdl.handle.net/1813/74484
Collections
ILR Student Works
Executive Summaries on Current HR Topics (ILRHR 6640)
Author
Wang, Kiki
Chen, Dandan
Abstract

[Excerpt] Management of sales organization views sales force retention as a critical objective. The total costs associated with the quit decision of a single salesperson (recruiting, training and opportunity costs of lost sales from unmanned positions) is in the $50,000-$75,000 range. Clearly, the adverse impact of salesforce turnover on both the profitability of the organization as well as the motivation level of the salesforce can be substantial. Therefore, it is urgent as well as crucial for sales organizations to develop retention strategies to incentivize sales representatives to stay with the company. The most crucial reason for voluntary turnover among salesforce is higher wages. Salary growth effects on turnover were greatest for high performers, that is, high salary growth significantly reduced turnover for high performing employees. However, besides salary, there are still a wide range of other strategies that companies can adopt to retain the salesforce.

Date Issued
2017-11-01
Keywords
Human Resources
•
HR
•
mentoring
•
rewards
•
retaining employees
•
retention
•
coaching
•
high potential
•
professional development
•
training
•
competency based hiring model
•
turnover
•
culture
•
mentee
•
benefits
•
perks
•
flex time
•
job sharing
•
telecommuting
•
flexibility
•
recognition programs
•
perks
•
retention strategies
•
equity incentives
•
long-term investments
Rights
Required Publisher Statement: Copyright held by the authors.
Type
article

Site Statistics | Help

About eCommons | Policies | Terms of use | Contact Us

copyright © 2002-2026 Cornell University Library | Privacy | Web Accessibility Assistance