Precarious Economic State Breeds Sales Profession Unrest
February 25 2009 - 4:30PM
PR Newswire (US)
Only six percent believe they will stay in their current role over
next six months CHICAGO, Feb. 25 /PRNewswire-FirstCall/ -- While
both corporate recruiters and sales professionals are cautiously
optimistic about the longer-term outlook for the sales industry as
a whole, only six percent of sales pros say they plan to stay in
their current position during the next six months, according to a
new study by Hudson (NASDAQ:HHGP) and Monster.com. The survey
results also reveal that more than half (57 percent) say they plan
to actively seek a new position, and another third say they would
consider a different one if it were the "right opportunity." A
growing disconnect, based on the study, between the way sales
professionals and corporate recruiters perceive the relative merit
of compensation strategies may be contributing to this unrest. For
example, 85 percent of sales professionals say salary is "very
influential or somewhat influential" to their sales performance,
while only half (52 percent) of employers rated salary as highly
important in recruiting or retaining sales professionals. Employers
rated commission most important in both attracting and retaining
sales professionals. However, sales professionals ranked salary,
bonus and health insurance higher than commission when asked what
influences their sales performance. "While top-tier sales
professionals will always be motivated by financial reward for
their selling success, the current economic environment is clearly
causing more to seek greater security," said Stephan Carter,
president and CEO of Hudson North America, which among other
specialties has recruited thousands of sales professionals for
clients worldwide. "Employers offering some flexibility in their
comp and benefits mix may be better positioned right now to attract
and retain sales talent." Despite the worsening economy through
2008, few employers adjusted the way they compensate sales
professionals. Only about 17 percent of recruiters indicated that
their company had changed the compensation formula in the prior six
months. In most cases, that involved increasing commission and
decreasing salary, in contrast to the sales professional survey
results. Other notable findings from the study include: -- Many
sales professionals are willing to expand their options as the job
market contracts: 78 percent say they would consider switching
industries, while 44 four percent would consider a sales position
outside the U.S. -- "Personal fulfillment from job success" is the
most frequent response (60%) given by sales professionals when
asked what they like best about their position, followed closely by
"The challenge of sales" (59%) and "Being my own boss" (58%).
Interestingly, the traditional "Sales incentive award" ranked near
the very bottom of the list, cited by only 27 percent of
respondents. -- The percent of sales professionals who rate
compensation components as very influential or somewhat influential
to their sales performance is as follows: salary (85%), bonus
(81%), health insurance (81%), commission (79%), and 401K (76%). --
Regardless of the economy, nearly all sales professionals and
recruiters agree that salespeople need certain personal
characteristics to be successful: motivated, effective
communicator, honest, professional and determined. About the Study
To better understand sales professionals and employers/recruiters
as they come to grips with the implications of the ongoing economic
crisis, Hudson and Monster surveyed 2,476 sales professionals
across multiple industries and major markets, and 64 employers
(recruiters or hiring managers for sales positions) during November
and December of 2008. Monster sent an invitation to participate in
the online survey to those in its database who indicated interest
in seeking a sales position during the past year. In addition, an
invitation to participate in a similar online survey was sent to
Monster's database of employers/recruiters who had recruited sales
professionals during the past year. An executive summary of the
study findings can be found at us.hudson.com. About Hudson Hudson
(NASDAQ:HHGP) is a leading provider of permanent recruitment,
contract professionals and talent management services worldwide.
From single placements to total outsourced solutions, Hudson helps
clients achieve greater organizational performance by assessing,
recruiting, developing and engaging the best and brightest people
for their businesses. The company employs approximately 3,100
professionals serving clients and candidates in more than 20
countries. More information is available at http://www.hudson.com/.
Contact: Stefanie Schumann 312-795-4210 DATASOURCE: Hudson CONTACT:
Stefanie Schumann of Hudson, +1-312-795-4210, Web Site:
http://www.hudson.com/
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