In this report, from SBI Growth Advisory, they reckon that in 2022 that high growth companies will need to find innovative ways to win the war on talent.
It's no longer enough to keep throwing money at recruitment advertising and headhunters, especially as the business will often have to on-board and invest in the people .... only, for people to leave.
When I was on the Board in the corporate world, our Human Resources contact told us that of 10 people we would recruit, only 2 would still be working for the company in two years time. That is a massive investment and a massive loss.
Leaders currently have an unrealistic assumptions about talent
In this report is states
"CEOs .... shared that despite planned headcount additions, they are struggling to fill open roles,
with the number of posted sales roles growing by 65% since early 2021. Further complicating sales leaders’ efforts
to hit quota, on average, surveyed leaders are operating with 31% of sales capacity that’s either open headcount or in year 1
on the job, indicating partial capacity at best."
"Rather than racing (and likely overpaying) to fill every opening
with top-performing talent as quickly as possible, companies
should be thinking about how to outsmart the war for talent —
rather than winning it"
What can you do to win the war on talent?
Empower your employees on social media
I was talking to a senior leader at a large US company the other day and he was telling me, they just cannot get the talent. He said, "we support diversity, we support women's networks, we have an unlimited training budget. The business has clear support for sustainability and zero carbon goals, but we cannot get anybody to join us."
I asked the question "do you tell people about this on social media?"
That's where the modern candidate is after all.
"No" he said.
And there is the problem. If you don't tell people about your great business and culture then nobody will know.
What do I mean by empower your employees
Very simply, you need to activate your employees so they speak in their own authentic voice, about how great it is to work there. This isn't a "sales" job or a "marketing" job, it's everybody's responsibility. After all, procurement people talking on social will attract procurement people.
This isn't about sharing brochures, it's about sharing insights about your business.
This will get the people who are on social media, to look at your business and go "that looks like a great place to work".
This is just one of the things we do to help a business with digital dominance.
So who's social selling?
In case you missed it, the Bank of America’s Merrill Lynch have banned cold calling and have moved all their people to social selling. This isn't some trendy tech company that might have decided to do this on a whim, this is a very conservative financial services company that has made a decision based on data.
But surely cold calling has a better ROI than social selling? Not according to Merrill Lynch.
"They will also be encouraged to contact prospects over LinkedIn, which has a higher hit rate than cold calling"
The CRO (chief revenue officer), Richard Eltham of Namos Solutions, of one of clients posted a comment on LinkedIn about social selling. See here.
“Social selling is not an option now it is the way of the world and you either learn and execute it or fear getting left behind”
Kevin Murray who is the Head of Sales at MacArtney Underwater Technology recently posted about his success with social selling here and wrote an article about the transformation that has happened in sales here.
I don't believe you Tim!
If you check out this video of Chris Mason CEO at Oracle reseller Namos, fast forward to 19 minutes 55 seconds. Chris talks about a $2.6 million win from being on social, after completing the DLA Ignite social selling and influence course.
Here at DLA Ignite we don't do "hints and tips sessions" we don't want you to waste your money. Our social selling and influence methodology will provide your sales team with the stable platform for growth. It is also the only social selling program based on 70:20:10 change management principles which gives your business the mindset change and habit change they need in this digital world.
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