Section Eight
Onboarding Your New Hire – The First 90 Days
Your New Hires First 90-Day / Anticipation is high for both the sales manager and the new hire. The new hire wants to prove that the manager has made a great choice and the manager want to prove that he/she knows how to evaluate and select talent. The first 90 Days is critical. During this period of euphoria, the sales manager needs to harness the enthusiasm and help the new hire set good habits.Table of Contents
Par1 - Overview 3
Activity 1 – Your First 90 Days 5
Part 2 - The Performance Contract 6
Activity 2 – Performance Contract 8
Part 3 - Achieving High Performance 11
Part 4 - Weekly Scorecard 13
Activity 3 – Scorecard 14
Part 5 - The Weekly Activity Meeting (WAM) 16
Appendix 31
Sales Builder Study Group (SBSG) 32
Sample Weekly Activity Scorecard 37
13
Onboarding Your New Hire – The First 90 Days
Par1 - Overview
Introduction / Anticipation is high for both the sales manager and the new hire. The first 90 Days is critical. The new hire wants to prove that the manager has made a great choice and the manager wants to prove that he/she knows how to evaluate and select talent. During this period of euphoria, the sales manager needs to harness the enthusiasm and help the new hire set good habits.The key to a successful training program is to attract, recruit, develop and retain talented effective sales people. The successful new hire will want to take the initiative, be prepared to do the job and be in control of their success.
Developing sales people into high performers involves a commitment by both the sales person and the sales manager.
A strong training program is based on high expectations, high initial sales activity and high accountability.
The recommended training regimen will not only get the new hire off to a fast start, but it will also validate the reasons they were hired in the first place. In some cases it may help recognize problems much sooner than thought possible.
Objective / To develop a “street ready” sales person in 90 days.
To create a bond between the new hire and the sales manager as well as between the new hire and the Company.
Specifically, the 90-Day objective is to:
· Learn the Company story
· Become familiar with products and services
· Understand the Company way of doing business
· Learn the Company’s sales process
· Introduce them to home office resources including the marketing, product and operations staff
· Become familiar with various sales applications, processes and tools.
· Begin the process of developing strong activity habits
If the new hire approaches the initial 90 Days with enthusiasm and completes all of the activities in a timely effective manner, you have a good hire. If the work is just average or sub par, some decisions will need to be made about moving forward.
Window Of Time / There is a window of time (usually 90 days) within which new and experienced sales people will demonstrate the potential for success. Allowed to proceed beyond this window of time, the likelihood is that they will not achieve the needed level of productivity to be successful and profitable.
Your New Hires First 90 Days (continued)
Application Of Knowledge / On one hand, the sales person must possess a base of product and technical knowledge that distinguishes them from their competition in the eyes of their customers. On the other hand, if this knowledge is not converted into the reality of sales applications that will help the customer, the desired production objectives will not be met.
Distinguishing Factors Compared To Other sales associates / The factors that distinguish the top producing sales people from others is their:
1. Ability to translate the knowledge that they possess about the products, sales process and case design into sales applications that are tailored to the needs of the customer.
2. Ability to build sustainable flows of business through their strong relationship and business building skills.
Basic Core Competencies
Value Creation / Delivering real value to the customer relationship. This value goes beyond the product. In many cases the value cannot be predetermined. Through the discovery process, the “value” is co-created by the customer and the salesperson.Identifying Opportunities / Identifying opportunities for the Company’s products and positioning the sale and/or future sales.
Product Application / Delivering product knowledge which goes beyond features and benefits to include how the product works internally from a pricing perspective and externally in relation to the client’s needs and competition.
Advanced Design / Possessing advanced planning knowledge at a level where it is applied to the:
· Asking the critical questions
· Applying it to product applications that address the client’s needs
· Delivering the appropriate alternatives/recommendations that will hold when tested by the advisors
· Identifying prospects for the investment professional who would benefit from this support.
Anticipating Sales Process Issues / Anticipating the sales process issues that arise in the marketplace so the Company’s sales process is highly responsive.
Your New Hires First 90 Days (continued)
Activity 1 – Your First 90 Days
Objective/ · To reflect upon your experiences as a “new hire.”
· To empathize with the new hire and understand why you need to create a strong start for your new hires.
Instructions
/ Think about your past experience(s) as a “new hire” and answer the following questions:
1. What were some of the things that were done to help you get comfortable with your new role and environment?
2. What were some of the things could have been avoided that made you somewhat uncomfortable in your new role?
3. What were some of the things that you wanted to know about right away?
4. Recalling your best onboarding experience, what were some of the things that your manager did?
5. Recalling your worst onboarding experience, what caused the bad experience?
6. What are some of the things that you want to include in the onboarding experience that you want to create for your new hires?
7. Create a timetable/calendar for your new hire for the first 90 days. Include all training events and meetings.
As you build Your New Hire Training Plan, make sure that you take into account the answers to the questions in Activity 1.
Part 2 - The Performance Contract
Managing Performance / It all begins here! Whether it is adherence to the weekly activity standards or the office dress code, it all begins with the performance contract and the establishing of mutual expectations. The clearer the expectations are, the greater the chances all the other standards and procedures will be followed by the new hire. If the manager does not communicate what the expectations and standards are upfront, the greater the likelihood the new hire will establish standards and expectations for themselves which the manager winds up undoing when the relationship is in turmoil and the need for a tough conversation becomes a necessity – which is the wrong time and wrong place to establish what the expectations and standards are.“You get what you put up with”
Accountability / A well written and communicated performance contract establishes the rules of the game; it is about accountability. There is no doubt and no excuses for the sales associate to not know what the provisions of the contract are. The manager can have a conversations to:
· Determine if the sales associate understands the terms of the performance contract.
· Reinforce or administer the consequences for not meeting the terms of the performance contract.
What Kind of Office Do You Want? / The determination of the standards that you want your sales associates to meet will decide what kind of sales office you are going to have.
High Standards:
· Generate a culture of high energy, high activity, large sales volume and constant motion.
· Attract and retain top performers.
· Motivate existing top performing sales associates to referred potential associates who will help to raise the standards to the next level.
· Build a stable of mentors who can support the accelerated growth of the sales office.
Minimum Standards:
· Encourage sales associates to stay around who should be doing something else or going elsewhere to work.
· Generate a culture of low energy, low activity and high maintenance.
The kind of office the manager will have is defined by the standards that the manager has established for the sales office.
The Performance Contract (continued)
· Activity
· Results/Production
· The growth track for the next 3 years
· Professional Development
Holding The Associate Accountable
The worst mistake you can make as a manager is not to hold someone accountable for meeting agreed up goals.
· It is detrimental to the sales associate’s success.
· It is detrimental to the sales office.
Morris R. Shechtman in his book, Working Without A Net, says, “…because of the drive for comfort in our society; confrontation and conflict are often required to hold people accountable, and many managers would prefer to avoid making their subordinates and themselves uncomfortable.”
This is why you implement the performance contract. Failure to use it to hold the sales associate accountable is your problem not the sales associates.
The Content / The content can cover many expectations and commitments:
· Activity
· Results/Production
· Performance expectations over a two –three year period of time.
· Professional Growth and Development
· The way they are to act within the office and with their associates
· Your commitments and your resources.
The Performance Contract (continued)
· The office vision.
· The type of people the manager wants.
· The level of energy they should have.
· The definition of success.
Activity 2 – Performance Contract
Objective/ · To create your performance contract.
· To meet with your sales team to discuss the expectations.
Instructions
/ 1. Review the Sample Performance Contract below.
2. Create your own version of the contract.
3. Review it with your manager before sharing it with your sales team.
4. Present the Performance Contract to your sales team.
Note: if you already have a Performance Contract, this would be a good time to review it.
Sample Performance Contract
Date: / (Month, Day, Year)To: / Thomas A. Jones
From: / William A. Smith
Subject: / Agency Performance Expectations
During the next 36 months, we are going to ask you to trust our experience and success and do the things that we ask you to do. Through the experience we have had in developing associates such as yourself, we - and the industry as well - have established standards that must be met if you are going to enjoy the benefits of this very rewarding career.
The reason for these standards is that your success in this career is predicated on the meeting of these standards.
Activity / Our activity levels have been tested, refined and confirmed over an extended period of time in our sales office. This performance contract will:1. Communicate to you exactly what the activity objectives are and make certain that you understand and are committed to them.
2. Discuss the support and the coaching you will receive to insure your success.
By achieving these activity objectives, a lot of other requirements that we are going to be communicating to you in this performance contract will be met as well.
Results / Production / As the activity standards are met, the results will come. However, we spell them out here so that they become goals that you are committed to achieving.
Professional Development / Professional development is a critical part of your success as a professional as well as a person.
· Much of professional development is self-development and requires that you commit the time necessary to grow as a professional on a daily basis.
Performance Contract
· Attend all office meetings and classes that you are expected to attend.
· Meet all activity reporting requirements as communicated to you by your Sales Manager.
Activity Goals / Monthly Target Goals
· 25 Hours phoning
Ø 150 phone contacts and 50 appointments made.
· 150 Hours in front of people
Ø 100 selling calls
Ø 85 seen calls
Ø 40 fact-finding interviews
Ø 25 new cases opened
Ø 25 closing interviews
· 50 Hours in the office
Production / Results / · 1st year – ___(Production Goal)_____
· 2nd Year – ___(Production Goal)____
· 3rd Year – ___(Production Goal)____
Professional Development / · Be ethical.