Let's talk recruitment

Reset

WHAT IS THE TRUE COST OF HAVING UNTRAINED SALES STAFF?

Placing a great salesperson is easy – placing a great salesperson in THE RIGHT ENVIRONMENT isn’t plain sailing.

Read our guest blog from Mike at Persona Sales Training and understand why having bespoke sales training for your staff is the best option.

Finance Director: “What if we spend all this money training salespeople and they leave?”

Sales Director: “ What if we don’t and they stay!”

In the last few years of working with both large and small companies, what observations can we make in terms of really increasing sales and profit and cutting costs. Any of which you can choose to consider or dismiss…

Understand or calculate the real cost of sales failure/turnover

What are the components?

  • Slow or negligible performance from start date
  • Decline in business from established people
  • Down – Up curve in replacement/new start
  • Never reaching real targets
  • Low average Order Value/ High discount/Little or no up-sell
  • Loss of customer base
  • Little or no new business wins

There are others I’m sure but for one of our customers we estimated upwards of £250K minimum [yes, I’m being conservative!]

Contributing factors to unrealised sales potential

There can be many however we should consider 4 key components for successful high performers:

  1. Comprehensive product knowledge and competence to desired level before they start
  2. Modern sales/helping customers to buy competence – learned and practised to start level
  3. Total competence in Planning and managing sales activities with special focus on Prospecting and pipeline management
  4. Motivation and Attitude assessment [including profiling] – will to win and self -improvement/desire to learn

The rush to employ the best of what we have seen or somebody else’s Farmer, Plodder, Account manager usually fails. In the world of today it’s time to develop and grow your own successful team with a systematic one-year flight plan.

Sales Essentials for today’s UK market

Here are some winning key skills/competencies we believe essential for the B2B market:

  • Development of well qualified prospect list [clear conversion metrics]
  • Great forecasting competency based on key win probability factors [including Gutometer] – translated to CRM
  • Initial meeting process/agenda – How we help people to buy!
  • Story – telling to get prospect focus and perspective
  • Value translation skills and techniques
  • Real knowledge of integrating financial solutions in a process and their use in cost justification and the business case
  • Prevention and management of No Decision and Stalled outcomes – the REAL competition
  • Absolute ability to justify differences in price/value [for Up-Sell and dealing with other suppliers!]
  • How bundling up can be a winner
  • Prospecting – yes, we’ll say it again! All our clients start from not enough prospects leading to desperate activities by all!

There are others I know but if we’ve rung some alarm bells maybe it’s time to look at how to take step forward to long term increased effectiveness?

The Sales 2.0 real cost and effectiveness on sales results

We still haven’t found one B2B customer who can sit back and rely on marketing/e-shots/google/twitter etc. to fill their sales pipeline…

Lest we forget “People buy from people they like” and “For their reasons – not ours!”

Think back, didn’t all your great sales start with a relationship first?? Let’s just get better at developing a great relationship where they see you as an asset and a partner. Then you help them through a process to buy the very best solution…

 

For more information on recruitment or sales training please contact us on info@thcrecruitment.co.uk

From the moment you submit your CV for a job vacancy, the anxiety and trepidation about the interview process can set in.  You will want to present yourself in the best possible light to make that all important first impression on your prospective new employer. If you are the diligent type you will research the company and existing employees, finding out who they are and what their most important policies are.  But how else can you ensure that you present as the best candidate for the vacancy?

Here are our picks of the 6 best TED talks to watch before a job interview:

 

  • You’re not at your best when you’re stressed. In fact, your brain has evolved over millennia to release cortisol in stressful situations, inhibiting rational, logical thinking but potentially helping you survive, say, being attacked by a lion. Neuroscientist Daniel Levitin thinks there’s a way to avoid making critical mistakes in stressful situations, when your thinking becomes clouded — the pre-mortem. “We all are going to fail now and then,” he says. “The idea is to think ahead to what those failures might be.”
  • 21:02

    Body language affects how others see us, but it may also change how we see ourselves. Social psychologist Amy Cuddy argues that “power posing” — standing in a posture of confidence, even when we don’t feel confident — can boost feelings of confidence, and might have an impact on our chances for success. (Note: Some of the findings presented in this talk have been referenced in an ongoing debate among social scientists about robustness and reproducibility. Read Amy Cuddy’s response under “Learn more” below.)
  • 9:58

    Have you ever felt like you’re talking, but nobody is listening? Here’s Julian Treasure to help. In this useful talk, the sound expert demonstrates the how-to’s of powerful speaking — from some handy vocal exercises to tips on how to speak with empathy. A talk that might help the world sound more beautiful.
  • 11:44

    When your job hinges on how well you talk to people, you learn a lot about how to have conversations — and that most of us don’t converse very well. Celeste Headlee has worked as a radio host for decades, and she knows the ingredients of a great conversation: Honesty, brevity, clarity and a healthy amount of listening. In this insightful talk, she shares 10 useful rules for having better conversations. “Go out, talk to people, listen to people,” she says. “And, most importantly, be prepared to be amazed.”
  • 20:26

    What motivates us to work? Contrary to conventional wisdom, it isn’t just money. But it’s not exactly joy either. It seems that most of us thrive by making constant progress and feeling a sense of purpose. Behavioral economist Dan Ariely presents two eye-opening experiments that reveal our unexpected and nuanced attitudes toward meaning in our work.
  • 10:31

    Given the choice between a job candidate with a perfect resume and one who has fought through difficulty, human resources executive Regina Hartley always gives the “Scrapper” a chance. As someone who grew up with adversity, Hartley knows that those who flourish in the darkest of spaces are empowered with the grit to persist in an ever-changing workplace. “Choose the underestimated contender, whose secret weapons are passion and purpose,” she says. “Hire the Scrapper.”

For more tips and strategies on interviews please contact us at info@thcrecruitment.co.uk

For more amazing and inspirational videos check out www.Ted.com

 

How to retain your best employees

 

A good , no ,a great, employee can be hard to come by, and if you manage to find one you are not going to want to let them go.  Not only do your top workers help to keep your business running smoothly and boost profit, but the cost of a replacing them if they were to leave can be vast.

In order to retain great staff you will need to motivate them or incentivise them to stay. There are a number of reasons that attract people to a job role, from financial reward , to company culture to the prospects of career advancement. So, what can you do to ensure you are giving your staff reason to stay?

 

Finding the ideal candidate

Begin by recruiting candidates who are a good “fit” not just for their role but for your company as a whole. Make sure their core values reflect those of the company , and that the working environment is suitable for them long term. By hiring the first person that comes along you risk high staff turnover, which is bad for profit and company morale.

 

Training and development opportunities

By offering your staff training and progression opportunities you are not only furthering their career but also their personal development. When people feel valued they are more likely to stay in their roles for the long haul and help develop the company.

 

Paying a competitive salary

This seems fairly obvious but are you paying your employees what they are worth? As above , when staff feel valued they are more likely to stick around. Offering them a good competitive salary will ensure they stay , even if they are head hunted. Check that you are offering the industry salary standard , and if you can afford it and the candidate is worth it – increase it.

 

Communication

Like all good relationships, you need to communicate effectively in order for them to blossom. This applies to the workplace too. Keeping employees up to date with changes, news or insider info will make them feel valued and invested in the company

 

Perks

Giving that little extra will make a difference. Company cars, childcare schemes, gym memberships, medical and health policies and company pensions can be the difference between a candidate choosing your company over another. If you don’t have the financial freedom to do this implement other perks, such as early finish on Fridays or allowing staff to work from home occasionally.

 

Remember, your business is only as strong as your staff. We’re here to help you hold on to your talent – and to help you find new employees.  Contact us to discuss your recruitment needs.

willogo-150x150

 

 

 

 

Our MD Julie Ramsay is now a member of the Women In Leasing initiative set up by The Leasing Foundation and led by Close Brothers CEO of Commercial Division Mary McNamara. The initiative began in 2013 with the intent to attract a more diverse range of talent to the leasing and asset finance industry and to support women in the industry.

The initiative includes training and education, themed networking events and mentoring, and draws on the expertise of the Foundation’s women Fellows and Governors. Women in Leasing will also connect with established diversity initiatives and networks such as Women in Banking and Finance.

Women in Leasing (WiL) hold networking events several times a year . The aim of these is to bring women across the industry together to share experiences, discuss challenges, promote ambition and leadership, and encourage networking as a tool for success. Structured evaluations from attendees provide feedback on what the initiative will pursue as it moves forward, ensuring growth and continued success for all involved.

It’s a great time for women to be more involved in Asset Finance so send us your CV if you are thinking of a career move. Info@thcrecruitment.co.uk

Looking for a new job is never an easy path to take for many people; however the path is blocked by a massive door which many struggle to breakdown. The door represents the question “should I look for a new job?” and for some this is simply never answered. The result being you dither about the subject for some time, before eventually deciding that it’s “better the devil you know” and stay where you are.

For a large number of potential job seekers the fact that they haven’t looked for a job for a while and are unsure of the process ,is what stops them from actually looking. If only there were a few self-critical questions we could ask ourselves to discover if the time to move jobs is in fact now……

  • Do you feel passionate about the industry you are currently in?
  • Can you picture yourself willingly working in the same industry in 5 years’ time ?
  • Can you picture yourself doing the same role in 12 months’ time?
  • Do you start counting the hours left on a Sunday before you have to return to work?
  • Do you like more than two thirds of the people you work with?
  • Has your employer provided a clear understanding of how you and your role can develop over the next 12 months?
  • Does the company culture let you develop your own skills and reach your full potential?
  • Are you in a situation where financially you can keep earning the same level in 12 months’ time?
  • Can you continue to commit to the same commuting hours per week or are they becoming excessive?

If you can’t honestly answer these questions with a positive attitude,  then quite simply why are you still reading this and not reaching for your CV to start giving it a polish?! Yes we all have bills to pay and financial commitments we must honour, but that shouldn’t be your motivation. Staying in a job that is not giving you the satisfaction and happiness levels you need to be the type of person you want to be, is only going to cost you something that no amount of money can repair – your sense of well –being. Self-respect, self-esteem and personal development are worth investing in.

If you are near the start or the end of your career then you can still ask yourself the same overriding question which will soon help you realize what is required of you. “Can I see myself willingly doing this role or work in this industry for the next X number of years before I can retire?”

If you can’t then why put off for tomorrow steps you can take today to secure your long term happiness and self-respect? Remember if you hate Mondays and the thought of getting up after Sunday is over and done with then this is a subconscious sign that changes are needed.

Contact us at THC Recruitment for advice on career paths, CV writing and if you are looking to progress in the asset finance industry. 01279 713900 info@thcrecruitment.co.ukchange

Man-writing-on-pad

In an ideal world, your customers would be in a position to purchase without cost or budget barriers, creating a smooth and consistent sales cycle.

Researching options for finance as part of the purchasing process has become the ‘new normal’ for consumers. The stats below show that more and more customers are reaching a buying decision before they even make contact with a vendor.

This makes the inclusion of a finance offering much more than a nice to have for equipment suppliers. It is an essential value add, especially if your competitors are already offering a solution. Without it, you could be losing leads that you didn’t know about, as your potential customers require finance to facilitate a purchase.

Equipment or Vendor Finance is an excellent enabler for suppliers. It has been shown to increase average transaction values, as customers are much more likely to increase the level of investment when there is an option to spread the cost.

 

Key Stats:

57% of the purchase decision is complete before a customer even calls equipment suppliers.

Over two thirds of buyers wait longer to initiate contact with vendors than they did  two years ago because they are doing more  research themselves.

More than 50% of buyers consult third- party sources before consulting a company’s sales force.

Research shows that customers choosing to purchase with finance will often spend up to three times the amount of those not purchasing using finance.

 

When used tactically, finance can provide an excellent selling tool. This allows the creation of high margin ‘bundle’ deals that offer warranty and added services for a fixed monthly fee, demonstrating benefits to both you and your customers and creating an overall more attractive package.

Article was written by Rob Hulse LDF Finance May2016

banner-image-employers-10001How can you maximise the products and the talent within your leasing company? Read our first guest blog from Mike Ramsay, Director of Persona Sales Training. The last 3 years have presented opportunity for change in the leasing and finance industry. The products are more in demand than ever before but the potential payback can only be fully realised if our delivery system is perfectly designed.

The tired old benefits of leasing can and will continue to suffice for partnerships that consider below 25% lease penetration, with marginal reactive growth, a success

Let me pose a question “How many companies would invest in and introduce new CRM software without fully and comprehensively training their staff to use it?”

Surely it would be crazy not to maximise the return on investment! Indeed, how much money and time [in £ 000’s] will a company invest in customer service back office systems and methods in total? Consider the ££££’s invested in total in leasing and back office software and technology over the last 10 years?

We understand that the critical benefits of these investments of time and money would only have been realised once all the staff understood totally how, why and when to use the main elements of the system!

Let’s compare this with the time and money typically invested in the Sales Aid or Vendor partnership in their CFRM [Customer Facing Relationship Management] operation?

Many ‘front end’ staff get very little training in how to maximise the REAL benefits of leasing for and with prospects and customers. But never mind, they know how to complete a leasing document accurately and how to enter and save details on the software! After all, they have completed a test of their knowledge and been repetitively trained to be effective day to day.

Maybe I am being slightly cynical and maybe this doesn’t truly reflect some partnerships but in my experience in the last few years it IS typical of many.

It is time to empower and excite some of your partnerships with the NEW sales benefits of leasing. When these are successfully installed with the sales teams all the OLD benefits of leasing will follow!

The coaching and training to make the system work efficiently has to be just as comprehensive with the only people who MEET the customers! Sales and customer service teams!

And what benefits will they [and subsequently all] gain? Salespeople are motivated by a limited number of ideals; recognition, money, success and security [for some].

The NEW benefits of leasing to salespeople are only accessible with thorough and complete sales coaching and training. There is no point holding up a bunch of pound notes as an incentive when we are only showing them how we calculate that incentive!

Sales people can achieve the following benefits to varying degrees when they are shown and coached in how to use rental selling skills practically in this downturn economy:

  • How to prospect more effectively using rental perspectives [and stop wasting time!]
  • How to be more effective at cost justification and creating strong business cases
  • How to be more effective selling price differences against other suppliers
  • How to prevent more sales from going to ‘No Decision’ than are ever lost to other suppliers
  • How to be more effective at selling with and through key influencers as well as decision makers
  • How to continually increase profit and average order sales values [working smarter not harder]
  • How to be more effective at selling services and consumables [the lifeblood to many partners]
  • How to Pre-handle, manage and prevent PRICE OBJECTIONS!
  • How to be more effective at selling all solutions with any form of finance [Lease, rent, HP etc.]

Salespeople will not risk their own integrity. They will only use skills and techniques that they are confident and competent to use. This takes time, repetition and experiences. Invest in the only real connection with the customers!

These benefits of using leasing effectively will result in sales success with the result of a more stable and successful sales team, an increase in lease penetration, winning of additional sales for the vendor partner and an increase in profit.

These skills and techniques can be integrated with and support all existing sales processes with equally positive effect.

The benefits of leasing for the Vendor – cash flow, reduced debtor days etc. will logically follow this customer facing investment. The benefits to the Lessor will be huge.

 

 

As recruitment experts in Asset Finance, Leasing and Motor Finance, it’s important our recruitment consultants at THC Recruitment are knowledgeable and up to date with activities within these industries. This is not just for the benefit of identifying recruitment opportunities but also to ensure our candidates are up to speed with the latest movements, news and trends.

recruitment news

Asset Finance Market

The British Business Bank, which is owned by the government but works independently of it, has delivered an upbeat assessment of increasing lending to companies, and is hopeful that it is sustainable. Its COO, Patrick Magee said: “The bank market is beginning to recover and the credit appetite is coming back. The asset finance market has been doing really well. It was just under £13billion in 2012 and was more than £16billion in 2015.” £342.5million of financing was originated in March which represents a 12% rise on February.

Whilst the IMF is warning of a possible financial crisis, BBB is more upbeat. “We’re not back to the heights or lows of 2007-8, but we’re returning to what we hope might be a new normal. I don’t have significant concerns that this isn’t sustainable.”

In its Credit Conditions Survey for the first quarter of 2016, the Bank of England revealed the proportion of small business loan applications approved increased for the fourth consecutive quarter, and demand from SMEs is expected to rise this quarter.

Jo Harris, managing director for business banking at Lloyds Banking Group, said: ‘Default rates on lending have fallen, reflecting an improvement in credit quality, and Bank of England statistics show there was an annual net increase of 1.6 per cent in loans and overdraft balances of SMEs in the year to the end of February.

‘However, in the first quarter of 2016 there was a slight fall in demand from small firms, perhaps as a result of uncertainty in many markets.’ Lloyds increased its lending by 5 per cent in the last year.

Motor Finance

 

  • Celebrating new car sales

 

Car sales are up which has to be good news for the motor finance industry. As a whole, the UK car market had a record first quarter with more than 770,000 new cars registered. In fact, March had the best recorded figures since the switch to the twice-yearly plate change in 1999, with 518,707 new cars registered – only the third time the market has surpassed half a million vehicles in a single month.

Jaguar Land Rover had a record first quarter with a jump of 23% year on year. This month’s launch of the new F-Pace sports utility vehicle – which has earned its nickname of  the ‘She-Type’ Jag thanks to the amount of attention from women customers – will push the figures even higher – with advance orders of 25,000, it’s already the fastest selling Jaguar ever.

Lookers, which has more than 150 outlets in the UK and Ireland, saw pre-tax profits rise by 6% in 2015 and are predicting new car sales will increase by 5% this year.

As David Cameron made an official visit to the Vauxhall factory at Ellesmere Port to put forward his case for staying in Europe, the Society of Motor Manufacturers and Traders revealed that more than three in four companies in the UK motor industry thought that remaining in Europe would be best for business. Two thirds of members said they believed access to EU automotive markets has had a positive impact on their firm.

 

  • Fears for borrowing

 

The Finance & Leasing Association say the number of new cars bought with financing at dealerships was above a million in the past year. In February 2016, 51,207 cars were bought in February on finance deals agreed during the sale – 22% rise year on year.

Financing agreements now account for 81.9% of the private new car market.

These figures have fuelled fears that consumers are taking on too much debt with a danger they’ll be living beyond their means. According to Bank of England figures, credit card borrowing rose 9.3% in the year to February – the highest since 2005, fuelling fears that we are heading for a dangerous credit binge.

 

  • Vulnerable consumers

 

The Lending Standards Board has highlighted consumer vulnerability which should be one of the key areas of focus for providers of consumer credit. Its research found that most firms are in the early stages of dealing with vulnerability, but say it should be “at the forefront of everyone’s minds” throughout the customer journey, and not just confined to debt collection.

Says Julie, MD of THC Recruitment “The Motor Finance industry is thriving and we are delighted to work with award-winning clients such as MotoNovo Finance who were chosen as one of the top 6 Sunday Times best companies this year.”

Leasing industry

Non-bank lending is on the rise. According to the Finance & Leasing Association, the use of leases by UK business rose 12% in 2015 – its highest level in seven years. Companies secured £29.1billion of leases for assets such as new vehicle fleets, IT systems and office equipment – up from £26billion the previous year. Despite the strong growth in non-bank lending, a recent report from Judge Business School’s Cambridge Centre for Alternative Finance, “Pushing Boundaries”, suggested that alternative finance is slowing. Whilst the figure grew by 161% in 2014 from 2013, growth was only 84% in 2015. Accountants PwC expects growth in the sector to continue, but predicts the number of funding platforms will fall as it sees the current number of around 100 as unsustainable.

Please contact  THC Recruitment if you’re searching for an experienced candidate, or are looking for a new job in our key industries.

In 2015, members of the Finance & Leasing Association (FLA) provided £110 billion of new finance to UK businesses and households, £37 billion of which helped consumers and businesses buy new and used cars, including over 80% of private new car registrations.

Mind the Skills Gap

Mind the Skills Gap

The growth in asset finance of new business (primarily leasing and hire purchase) of 12% in 2015 was the market’s second consecutive year of double-digit growth. Figures also show a 22% growth in point-of-sale consumer new car finance volumes in December, and 10% growth in 2015 as a whole. The percentage of private new car sales financed by FLA members through dealerships reached 81.4% in 2015, up from 75.9% in 2014.

Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said: “2015 was another strong year for the asset finance industry, with new business reaching its highest level since the onset of the financial crisis. Our latest industry confidence survey suggests growth in new business of up to 10% in 2016. The asset finance industry funded almost 32% of UK investment in machinery, equipment and purchased software in 2015, and the FLA’s latest retail motor finance confidence survey suggests that we will see new business growth in 2016 of up to 10%.”

However, all this good news does have a downside, with a huge shortfall of employee candidates. Julie Ramsay, MD of THC Recruitment said: “In the recession, a lot of people left the  industry through redundancy, and there followed five static years where there was no recruitment and no training. Now the economy has recovered, we’ve got more vacancies on our books than we’ve had in six years without enough candidates to fill them.

“In fact, the market has changed massively over the past five or six years. Brokers are very strong and there are lots of  completely new opportunities thanks to the rise of the challenger banks, so good candidates are very much in demand. In a candidate-driven market, companies are having to act quickly to offer them a job, otherwise they’re gone!”

Candidates: If you’re looking for your next job in motor finance or asset finance we have lots of employers who are offering very attractive packages. So if you’re looking for a new career move, get in touch now to register your interest.

Employers: We are continually adding new candidates on our database so if you have vacancies, contact us to let us know what you need.

  • HOT OFF THE PRESS

    • WISE WORDS …

      Posted: 12/11/2018

      The Six Cylinders of the Professional Sales PersonBusiness KnowledgeIndustry KnowledgeCompany KnowledgeProduct KnowledgeSelling KnowledgeATTITUDE

       

    • Quote of the Week

      Posted: 06/11/2018

      WISE WORDS …A NO is only ever a NO    NOT   TODAY

  • ABOUT US

    More ►

    PERSONA TRAINING

    • Our sister company is Persona Sales Training – a specialist training company in leasing and vendor finance.

We use cookies to ensure that we give you the best experience on our website.