Millennials and the World of Sales
I was told that millennials are sheltered, entitled, technology-addicted skeptics of the ‘older folks.’ They just do not make good sales people. I found some truth in the depiction of millennials … truths that pertain to almost all of us. My experience: We encouraged them to challenge each facet of training and to ask probing questions. They felt empowered, emboldened, and secure. And, they became successful sales people.
“I am worried about you relating to millennials.” Then came the dissertation about millennials. Millennials are concerned about satisfaction in the workplace and work-life balance versus monetary rewards. They are sheltered, entitled, technology-addicted skeptics of the ‘older folks.’ They just do not make good sales people. I found some truth in this depiction, truths that pertain to almost every one of the thousands of interviews I conducted over the past 30+ years.
In the past three years, I have successfully hired and trained ‘millennials’ for sales positions for two technology companies and one financial services company. You know what I found? Hard-working, committed, curious successful young men and women. What was the formula?
Behavior-based Interview Process
A four-week, comprehensive training program that included segments about:
Our products and services
Our message
Our value to people and the market place
How our company works
Opportunities for professional growth
Insight selling and financial selling
Experiential practices of their role
And, a plan to succeed
We used a multiple number of facilitators, technology, group interaction, role-playing, and testing.
As they executed their jobs, we had an additional four weeks of mentoring and group discussion at the end of nearly every work day.
We encouraged them to challenge each facet of training and to ask probing questions. They felt empowered, emboldened, and secure. It is also the same pedagogy I have used to onboard sales people for the past three decades.
Case Study: A Financial Services Company
One client faced what almost every financial services company faces when hiring people. The industry faces aging, marginal sales people who change jobs every couple of years. Companies keep retreading these financial services sales people because they have their Series 7 and Series 63 certifications. And, of course they have their “book of business.” The results do not change. The book of business really is not that great. After 90 days, their working habits quickly deteriorate. The Company keeps them on because someone is better than no one.
I was referred into such a company. By the way, my slogan is “Nobody is better than just anybody.”
We know what does not work. So, we developed a profile – a 22 to 28-year-old college graduate with a degree in finance. We created a rigorous hiring process. We brought our candidates for a kick-off get-together before their first day of training. We invited the managers of the company and our 8 new hires and we just talked for a couple of hours to welcome our new sales people into the company. Our message was sales is the lifeblood of the company and we needed and wanted them to succeed – and will do everything we can to help them.
Their training included:
Our products and services
Our message
Series 7 training
Our value to people and the market place
How our company works
Opportunities for professional growth
Insight selling and financial selling
Experiential practices of their role
And, a plan to succeed
Three weeks into their training, all of our new sales resources passed their tests and received their Series 7; and later their Series 63 certifications. We had a party for them.
They were selling research to Fund Managers across the United States. They were setting meeting with our research analysts. I found it interesting that they had two major obstacles outside of this process being new. The first was they did not know how to buy suits that fit. The second? – when they met the Fund Managers face-to-face was their youth and youthful appearance. But, they were well trained, and they were ready. They quickly turned their youth into a competitive advantage because they had passion and enthusiasm; and came without the baggage of their predecessors.
You can call them Millennials. I call them you men and women embarking on a new career path that offers them the ability to succeed, feel a sense of achievement, make some money, and feel good about themselves.
