In the current global talent crisis, employee retention is more important than ever with 3 to 4.5 million U.S. employees quitting their jobs every single month. Yet many employers are ignoring a vital part of talent retention; training. Although the automotive sector historically has a high turnover rate, there has never been a fiercer competition to attract and retain talent. In fact, according to new research from TalentLMS, 41% of employees said that if their employers do not keep pace with the demand to provide training, learning, and development opportunities, they will look to leave their employers in 2024. Under such circumstances, Ashley Trimble,Recruitment and New Hire Training Manager at One Nexus explores why it is essential to consider key factors surrounding training and retaining candidates.
Investing in Staff
The purpose of training is to make individuals feel valued: Offering learning, training, and development is an investment in people, and is a planned effort by an organisation to facilitate the learning of job-related behaviour. It demonstrates to them that the business is committed to their development and helps to align the company goals and employee career goals which is crucial for success.
Having the ability to attract, develop, and retain high-level talent is vital for companies navigating the current market environment, regardless of what type of business. It's clear that OEMs need to hire salespeople who are both skilled and versatile, as well as knowledgeable about the current marketplace, in order to maintain a strong sales pipeline.
Effective onboarding is the first critical step to transforming new hires into high-performing sellers, but the concept itself is much easier said than done. Traditionally, sales enablement programs have been designed with a one-size-fits-all framework filled with static training materials and ad-hoc content that is time-consuming to navigate.
As a result, sellers are unable to reach their full potential due to the lack of scalability, flexibility, and personalisation available in legacy onboarding methods. Providing smart, personable training programs and demonstrating a commitment to sellers' personal growth can bridge those gaps, and having a manager who is both reliable and coach-like can help keep sellers within the business.
Furthermore, fostering a culture of empowerment and driving personal investment in development begins with establishing a solid foundation during onboarding and continuing it with dynamic sales coaching.
Staff Investing in You
When employees see that you are providing learning opportunities with a view to advancing their career, they recognise that you care about their growth and are thus likely to become more committed to their jobs. In turn, this leads to higher employee engagement which produces higher business productivity. Employee productivity improves when employees have the opportunity to grow and develop within their remit. Training also instals a greater level of confidence, motivation and passion into employees and managers, which translates into a more productive corporate culture and a space where people want to achieve and excel.
With a reported 73% turnover rate in dealerships in the USA, retaining car sales reps can be challenging in any situation, not to mention in a candidate-friendly job market. However, employing smart tactics might give the OEM a better chance of long-term retention for the dealership into 2024 and beyond.