{"id":10660,"date":"2016-08-11T20:48:09","date_gmt":"2016-08-11T20:48:09","guid":{"rendered":"https:\/\/sandler.dsstaging2.com\/case-study\/dont-leave-money-table-calculate-your-hiring-costs\/"},"modified":"2023-07-17T21:02:24","modified_gmt":"2023-07-17T21:02:24","slug":"dont-leave-money-table-calculate-your-hiring-costs","status":"publish","type":"post","link":"https:\/\/sandler.com\/blog\/dont-leave-money-table-calculate-your-hiring-costs\/","title":{"rendered":"Don\u2019t Leave Money on the Table: Calculate Your Hiring Costs!"},"content":{"rendered":"\r\n<p>Within sales organizations, companies often perceive salespeople as a necessary evil, as opposed to an asset. If dollars and cents were attached to that asset, a company\u2019s hiring practices may be taken more seriously and the loss of a salesperson may be seen as an expense.<\/p>\r\n\r\n\r\n\r\n<p>If you hire three people and even lose just one of them,\u00a0<strong>the average cost can easily be over $100,000<\/strong>. As a business owner, if you haven\u2019t bought into the seriousness of making a bad hire, perhaps it\u2019s time to take a closer look. Consider just some of the costs:<\/p>\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\">\r\n<li>Base salary<\/li>\r\n<li>Commissions paid<\/li>\r\n<li>Value of the territory<\/li>\r\n<li>Resources invested to find new people<\/li>\r\n<li>Lost opportunity cost during transition<\/li>\r\n<li>Customer loss to competition<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<p>Even for a small company, the numbers attached to these categories can be significant. Often, business owners will choose to brush the whole issue off as the cost of doing business.\u00a0<strong>Making a bad hire is\u00a0<em>not\u00a0<\/em>about the \u201ccost of doing business.\u201d<\/strong>\u00a0It isn\u2019t prudent to accept the role of a salesperson as being transient. A revolving door will cost you more in sales and profits than you could imagine. This is a number that should be continuously tracked in your financial reports in the same way you track other costs. \u00a0<\/p>\r\n\r\n\r\n\r\n<p>In my previous articles, we discussed the fact that business owners should devote the time into making a good hire. At the end of the day, it&#8217;s an exercise in elevating a company\u2019s perception of their <a href=\"https:\/\/www.sandler.com\/tools\/sandler-playmaker-salesforce\/\">salesforce sales training<\/a>. As a business owner, <strong>you don\u2019t want to leave money on the table<\/strong>. If you want to find out what\u00a0<strong>your\u00a0<\/strong>cost of a bad hire is, reach out to your local Sandler Trainer.<\/p>\r\n","protected":false},"excerpt":{"rendered":"<p>Within sales organizations, companies often perceive salespeople as a necessary evil, as opposed to an asset. If dollars and cents were attached to that asset, a company\u2019s hiring practices may be taken more seriously and the loss of a salesperson may be seen as an expense. If you hire three people and even lose just&#8230;<\/p>\n","protected":false},"author":167,"featured_media":10661,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","inline_featured_image":false,"footnotes":""},"categories":[1120],"tags":[1496,1033,1035],"class_list":["post-10660","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","tag-hiring-and-recruitment","tag-leadership","tag-management"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Don\u2019t Leave Money on the Table: Calculate Your Hiring Costs! | Sandler Training<\/title>\n<meta name=\"description\" content=\"Within sales organizations, companies often perceive salespeople as a necessary evil, as opposed to an asset. If dollars and cents were attached to that asset, a company\u2019s hiring practices may be taken more seriously and the loss of a salesperson may be seen as an expense. If you hire three people and even lose just one of them, the average cost can easily be over $100,000. As\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sandler.com\/blog\/dont-leave-money-table-calculate-your-hiring-costs\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Don\u2019t Leave Money on the Table: Calculate Your Hiring Costs! | Sandler Training\" \/>\n<meta property=\"og:description\" content=\"Within sales organizations, companies often perceive salespeople as a necessary evil, as opposed to an asset. 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