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As a dealer, you spend a lot of time thinking about your customers. How can you bring them into the store, provide a great sales experience, and hold onto them long-term? These questions are very important, but not just for your customers. Shouldn't you be asking them about your employees too?
In 2012, the average turnover rate in the automotive sales industry was 45 percent. Imagine if you could hold onto your salespeople for longer. How much time, money, and effort would you save if you didn't have to constantly hire and train new employees? Obviously, there are a lot of factors that affect employee retention (see Don't Bring Me Down), but here are just a few to consider to get you started.
Why are your salespeople there?
To make money is not the correct answer. Why do they want to make money? What are their interests, goals, and ambitions? One person may be there to support his family. Another may be saving up for a boat. In either case, finding out what makes your salespeople tick can help you motivate them toward their goals.
What are their wants and needs?
Whether they love the challenge of selling or they want to work their way up the ladder, knowing what your salespeople are looking for in their career will allow you to create most appropriate path and environment for them to be productive.
How much do they need to earn to accomplish their goals?
Once you identify what your salespeople want - both professionally and personally - you can determine what they need to do to get there. Meet with each salesperson one-on-one at least once a week to see how they're tracking in relation to their goals.
While some things are out of your control when it comes to attracting and retaining employees, you can create a culture that brings the best out of your salespeople. And it all starts with finding out what gets them out of bed in the morning.