Enterprise Sales Compensation Trends in a HOT Market + What to Do About It
Unless you’ve been sleeping under a rock you know that the sales market is white-hot right now.
Hiring well in sales has been a challenge for some time, but it’s a whole new complex ballgame of difficulty these days. In particular, enterprise sales is especially hard. From the executive leadership down to the rep level.
In the last 4 days alone, I’ve had 7 Founders or Sales Leaders ask me where they can turn to for reliable help.
Make no mistake, the competition to hire top talent is fierce right now. And once you’ve hired a standout candidate, nothing is set in stone.
Despite being one of the most sought-after roles, the category of sales has turnover nearly 3X the rate of any other function. If you’re lucky, they’ll stick around for 18 months. What a scary statistic as the party is JUST getting started when you’re dealing with enterprise sales.
The reality is, we’ve got a major supply vs. demand issue right now… it’s hard to find great people, hire them, and keep them for the long haul.
When you consider how long it takes to ramp while building a repeatable pipeline, the complex nature of the enterprise market, the fact that you only get one shot at the enterprise “table” with these mega opportunities, and the massive fallout that can occur if those new hires decide to leave… it’s clear that you need to have all your ducks in a row.
Compensation is one of the key ingredients for boosting your ability to hire well while making sure you keep your top performers.
My Thursday Night Sales partner in crime, Scott Leese reinforces the point well, check out that first point!
This article breaks down what you need to know to help you put your best foot forward while reducing the margin for error.
Now’s the time to ditch the things that aren’t serving you well and adjust your enterprise sales compensation expectations to match the demands of the market.