Do recruiting services seem too expensive for your budgets?
My first question to you would be: What is the average length of time that it takes you to fill your vacancies?
I do work with a few accountants who have lead multi-national corporations to unprecedented growth and shareholder value. They will attest to the fact that I am not nearly as shrewd as them when it comes to the financials of a successful organization. However, when it comes to building value and achieving revenue targets and growth, I’ve had a very consistent and successful track record. Why? It’s simple mathematics.
Monica’s Sales Recruitment Calculations:
Revenue Potential = Revenue target ÷ 12 months ÷ 30days/month
Example of a $500k/yr territory = $1389/day revenue potential
VERSUS
Revenue Lost = Length of vacancy x daily revenue loss
A vacancy of 45 days = $62,500 of what was your revenue up for grabs
Yes, there are many factors contributing to the amount of revenue lost with a vacancy. However, let’s make the assumption that you are able to hang onto 75% of it, through cross coverage, inside sales, or a non-competitive market. Even then, for a territory of $500k/year, which is an average size sales territory for any product in Alberta, you are still allowing $15,625 to slip away to your competitors by allowing your territory to remain vacant for those 45 days. Beyond the 45 days, the revenue loss is only going to accelerate. Plus, I haven’t even touched on any of the indirect costs (which can be much more costly than pure revenue sometimes) of decreased morale on your existing team who is filling the gaps, customer dissatisfaction, the hiring manager’s lost productivity and stress.
In our experience, those hiring managers and organizations who are in a position to be agile in their hiring are winning. Having the resources and capabilities to hire within 14 days gives you a huge competitive edge over the competition. Right now in Alberta the top talent is being scooped up from the market in under 2 weeks. Coincidentally this would also be the sweet spot in my Recruiter Math.
Recruiting in two weeks:
Securing top talent + neutralizing revenue loss = achieving your 2014 revenue goals!
Happy Hunting!
ABOUT MONICA LEWICKI
Monica specializes in the recruitment and placement of top sales professionals in Edmonton. Monica’s career has taken her across Canada in a variety of leadership and mentorship roles. Beginning with her roots as a cancer researcher she moved into environmental assessment work and conducting laboratory analyses. She then continued through to successful multi-million dollar sales roles, training and coaching roles, marketing roles and corporate operations management; all while providing world leading strategic leadership on large scale projects that encompass all these cross functional roles. Monica brings a drive and passion for success, which ranks her at the top of a strong network of top tier sales professionals. Her enthusiasm and dedication to meet her client’s needs has earned her much praise, promotion and accolade in the various roles she has held. If you’re looking to hire your next sales star in Edmonton, contact Monica at 780-486-8377 or email mlewicki@theheadhunters.ca
