SalesFuel Study finds 69% Of Millennial Sales Reps Have Already Left a Company Voluntarily
Employees report leaving positions due to lack of guidance and support, harming profits
SalesFuel today released results of a study that found many salespeople do not feel supported by their managers, driving them to switch roles or leave the organization entirely. 39% of respondents actually left jobs because they didn’t like their direct managers or were unsatisfied with their managers’ performance, causing costly turnover. The study also found 69% of millennial sales reps have left a company voluntarily. By contrast, this number is 79% for all other demographics, most who’ve been in the workforce much longer.
The results, published in a white paper titled “What Your Salespeople Are Afraid To Tell You,” unveiled various concerns with managers, including inattentiveness, poor coaching and indifference to career aspirations. Only 35% of respondents told SalesFuel their managers set realistic, obtainable and clearly defined goals, and merely 20% said their managers have meaningful discussions about their careers. Many had almost no relationship at all – 43% of surveyed salespeople only meet with their managers once a month, if not less often.
“These results make it clear that managers cannot live in a world of spreadsheets and reports – they should be investing ample time in one-on-one coaching for their employees,” said CEO of SalesFuel C. Lee Smith. “We are proud to release these findings as part of SalesFuel’s commitment to helping sales teams close more deals, develop talent and increase revenue.”
To help organizations combat these issues, SalesFuel recently announced the launch of TeamKeeper, a data-driven talent retention platform for sales management. TeamKeeper leverages data to provide personalized recommendations for discovering, developing and engaging employees – increasing revenue and improving top talent retention.
Additional findings of the study include:
- Advancement opportunity is key for retention: 39% of respondents told SalesFuel that they need opportunity for advancement or they might leave their organization.
- Salespeople are in search of coaching: Of individuals who have left previous jobs of their own accord, just 20% say they receive personalized coaching.
- The manager is key to culture – and culture is critical: 35% have left a company because they didn’t like the company culture, purpose or values.
“Armed with this information, as well as technology that provides a customized management approach for each employee, sales managers can act to ensure employees are engaged – reducing turnover and improving the bottom line,” Smith said.
To perform the study, SalesFuel collected responses from 725 salespeople at companies with 10 employees or more across the United States. A summary of the findings can be viewed here. To learn more about TeamKeeper and schedule a demo of the platform, click here.