For those unfamiliar, “The Great Resignation” refers to the huge mass of skilled and technical workers who have abandoned their jobs for a variety of reasons. The U.S. Bureau of Labor Statistics released a summary in January 2022, finding that roughly 4.5 million knowledge workers deliberately left their jobs. But why did so many decide that their positions were no longer benefiting them?
As the pandemic raged, many organizations decided to enforce hybrid or remote work. Employee burnout was becoming commonplace and work-life balance was teetering on the edge, and low salaries, limited career opportunities, and a lack of employee recognition caused many to feel that they could find a superior career path. And as the trend of hybrid and remote work continues, employee turnover rates will continue to rise for knowledge workers in the foreseeable future.
Employee retention is the top C-level challenge for 2022
A survey by Fortune magazine reported that 73% of CEOs say a labor/skills shortage is the most likely external issue to disrupt their business in the next 12 months. As such, keeping top talent and minimizing turnover rate will be a key focus for C-level executives in 2022. And improving, optimizing, and streamlining the B2B seller experience will help them do so.
It’s crucial to remember that most of today’s workforce is made up of Millennials and Gen Z employees. This population has very different expectations from employers than the previous generations. So what can be done to change their approach from “resign to rethink”? Re-evaluate existing processes and tools that may not be enabling and driving sales team success, prioritize the B2B seller experience, and create a better work-life balance.
Re-evaluation of existing processes and tools is the primary task for C-levels
Without the proper framework of processes and the appropriate tools and technology to succeed in their roles, sales reps in B2B organizations will find it difficult and frustrating to do their job easily and efficiently. There are several reasons to re-evaluate existing processes and tools.
First, there may be workflow processes that slow down the sales process. Manual tasks and processes are an inefficient way to sell, can be full of mistakes, and can hinder sales. Second, you may be overpaying for tools that your sales reps aren’t even using. Third, there may be better and more effective tools that can enable your sales reps to optimize the seller experience.
In order to determine which tools are advantageous to your sales reps, find out which are being used on a daily basis, and which have been abandoned, and invest in the tools that streamline and improve the entire sales process from beginning to end.
Prioritize the B2B seller experience
Retaining sales talent relies on prioritizing the B2B seller experience. When sales leaders ensure a greater work-life balance for their sales organization, enable the success of remote or hybrid sales teams, and use technology to maximize efficiency in the sales motion, salespeople are more likely to stay. This requires using one horizontally connected platform across the customer-buyer journey. This efficiency in sales practices leads to greater revenue execution and results.
But what does prioritization of the B2B selling experience look like? It means enabling people in sales roles to ensure maximum efficiency, providing your sales professionals with the right tools and technology, and ditching outdated practices that no longer serve or benefit your sales team.
Greg Munster, an authority in sales enablement, notes: the top five factors that are critical to the successful implementation of CRM and sales technology overall are: ease of use (95%), ease of data input (93%), having a “single source” of sales force information (93%), and usefulness in managing the sales pipeline (93%). Determine whether your sales tools meet this criteria to optimize the B2B seller experience and drive revenue.
Related podcast: How Revenue Leaders Can Ride the Wave of the Great Resignation
How the DealHub platform delivers the optimal B2B seller experience
A CRM is a must-have for successful sales teams, but a CRM that syncs in real-time with CPQ software provides an even higher level of automation and optimization. How can top-notch CPQ software like DealHub help you retain high-performing sales reps? The answer is to make the sales process so efficient and streamlined that they reduce the length of the sales cycle and crush their sales goals. Here’s how:
- CPQ: DealHub CPQ empowers sales teams to generate fast and detailed quotes, even for complex and intricate deals, without additional coding resources required. A built-in sales playbook ensures sales reps can sell fast and strategically, while advanced approval workflows automate an essential part of the quoting process. Compared to other CPQs, DealHub can be set up and implemented in weeks – not months.
- Contract Management: With DealHub, sales employees can quickly produce standardized contracts and documents, ensure contracts are accurate and in compliance, and streamline the deal-negotiation process. Real-time notifications provide your entire team and your customers with complete oversight. Enable stakeholders to close deals faster with integrated eSign. Lastly, digitally secure contract storage makes it simple to retrieve and review new and existing contracts.
- Subscription Management: DealHub enables our customers to amplify revenue faster and unlock revenue possibilities by making it simple and efficient to manage subscriptions, renewals, recurring payments, upselling, quoting, and more. Customers can also optimize and streamline their billing process by connecting subscriptions, invoicing, and collections.
- DealRoom: DealHub offers a single digital location where all relevant stakeholders can collaborate and decision-makers can move deals forward faster. The DealRoom can be completely personalized for each customer and has all the tools and information needed to close a deal. For example, some tools and information Sellers can add in the DealRoom include pricing and product summaries, sales collateral, contract management, and e-signature capabilities. In addition, you can save your sales teams from time-consuming manual tasks, as all deal and contract information is synced automatically to your CRM.
With DealHub, sales teams can quickly move buyers from opportunity to close, increase deal size and decrease revenue leakage, improve revenue forecasting, and enable sales teams to deliver one fluid sales motion. An added benefit is a smooth buying journey that provides outstanding customer experiences.
Three business benefits for our customers
By implementing and adopting DealHub’s platform, our customers have seen improvements in their selling process, their sales reps’ work-life balance, and retention rates. What exactly do these business benefits look like for B2B sales organizations?
- Sendoso was able to grow the average deal size by 15% with DealHub.
- Asure has successfully reduced sales rep training by 85%.
- Blueshift has been effective in getting deals approved 500% faster with sales workflow automation.
The benefits of using DealHub’s CPQ software that integrates with your CRM are clear. DealHub provides the framework to close larger deals faster, efficiently train and ramp up new sales hires, and optimize the seller experience from start to finish. The result of which is happier salespeople who are more likely to stay, as opposed to searching out new job opportunities.
How DealHub helps retain top sales talent
We now know that the cost of not prioritizing seller experience in 2022 is not only the immediate impact of losing top sales professionals, it’s also the revenue gap that will increase as a result of the cumulative attrition effect throughout the year as a whole.
To retain employees, we encourage sales leaders to evaluate your sales tech and improve the team’s efficiency and effectiveness. Increase your sales team’s performance by consolidating the software used in the closing deal stages using our Platform. Our platform is the most complete and connected revenue workflow for your sales organization. Our no-code platform empowers visionary sales managers to connect their teams and processes, execute deals faster, and create an accurate and predictable pipeline.
Learn how Blueshift empowered their sales reps
to close deals 500% faster with DealHub.