Tracking Sales Performance: Best Practices To Evaluating Your Sales Team

Tracking Sales Performance

Are you struggling to keep an eye on how your team is performing? Missing out on vital statistics, or unsure what you need to measure to know if your team is reaching their potential? Want to learn of some useful software? Want to get better at tracking sales performance? Look no further. 

Having a sales team do their best comes down to more than just their hard work. Even when you believe in your team, it isn’t enough to get them to reach the goals you want. It requires goals, targets, communication, effective meetings, rewards, and time management. 

To ensure your team does the best, you need to check how they perform in sales. So, how to track sales performance? We answer this question here. 

How to track sales team performance: Quantitative approach

To keep track of your team performance, you have to look at the numbers. Without any tracking of sales activity and other useful statistics, any progress to any goals you set, and the usefulness of the goals themselves, will be pretty much pointless. So what sort of numbers do you need to track?

Key Performance Indicators (KPIs)

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A KPI is a goal you set, and a barometer of your team’s success, effectively a type of sales goal tracker. When you set a KPI, whether it’s sales, conversions, new customers, or whatever other goals you are focusing on, it gives a clear and concrete focus for your team. This should be visible to everyone, clear, and can be viewed daily by your team.   

What KPIs are best?

If you want to track sales, and you are setting a KPI, you may want to know what sort of KPI is best and how to find them. Well, here we can offer some advice. Here are five popular KPIs:

  • Monthly Sales Growth: This KPI helps you see any increase, or decrease, in sales over the month, which, unlike yearly sales stats, gives a closer look at the figures, and for newer companies just getting started, is much more useful. 
  • Average Conversion Time: This tracks how quickly a customer agrees to pay for a product or service, as a slow conversion rate, even with high customer interactions and sales, can still cause big problems for your business. 
  • Average Profit Margin: By tracking profit, you can see a general success, which is particularly useful for companies that have flexibility in sales, a diverse range of products, and offers sales and upgrades to existing customers, as profit is perhaps more important than new customers.  
  • Monthly Sales Bookings: This focuses on closed deals and confirmations, and itself can be broken down into different areas, such as per region, per salesperson etc. 
  • Sales Closing Ratio: This tracks how many sales are in comparison to quotes and offers. Lots of calls and quotes may indicate some success, but at the end of the day, it’s all about closing. 

How to track KPIs?

There’s plenty of free and affordable KPI software, to ensure that management or your sales team performance can view the statistics, and this can also be shared with shareholders to ensure transparency. By using third party sales performance tracking software, you can enter the KPIs, and get detailed data on whether they are being met or not, in an easy to read format. One example is Sisense, which allows you to see detailed data on any aspect of the business. 

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Sales metrics (Sales performance metrics)

Sales metrics are often confused with KPIs, but they aren’t quite the same. Although they are still very useful for tracking sales performance. In simple terms, all KPIs are sales metrics, but not all sales metrics are KPIs.  KPIs are essential parts of understanding the success of your business, your team performance and should be what drives it forwards. Metrics may not be as important but are still important data aspects to monitor. Nonetheless, to track your sales team and success, sales metrics can be good indicators. Here are some good sales performance metrics to keep an eye on, which have a relation to sales, but are not as essential:

  • Customer satisfaction score: Satisfaction doesn’t mean your company is doing well, or badly, necessarily, but it’s a core part of any business’ success long term.
  • Revenue Growth: this may seem like a KPI, but the growth of revenue alone won’t tell you if your company will necessarily succeed when for example there is a low conversion rate or low retention of customers. 

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Qualitative approaches to tracking your team’s performance

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There’s more than just numbers to tracking sales rep performance. How effective are your sales team at communicating? Do they use a good sales method?  How productive are their meetings? Are they happy? Numbers alone can’t tell you this. 

Without good communication with customers, your team may not be reaching their potential and failing to meet the KPIs, so this is something that absolutely needs to be understood by management. Badly crafted emails, calls and meetings can be a major cause of problems within a company. An unhappy team will also struggle.

So, how can we improve and check these, and how can you do that without spending lots of time? We have you covered!

Regular Performance Reviews

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Check-in with your team members regularly, to see what they are struggling with and what they feel competent at. By keeping a regular eye on things, problems can be solved quickly by identifying problems and giving a voice to your employees.

Use these as opportunities to praise your staff as well, as this will make them happier to continue working and give them motivation. In addition, any negatives should be used as learning opportunities, for the whole team as well!

You can identify areas where staff need further training, and you can in turn use your team to teach each other. Have one member who is great at closing? Get them to help others who struggle. Are others better at efficient communication? Use them to share their tips!

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Track and Automate Sales Funnels

The numbers can give so much, but you need to see how your team approaches sales. What is necessary is to track how your sales funnel is followed.  

Funnel gives sales teams a step by step process to the sales approach. By creating an effective funnel, and seeing if your employees work with it, you can monitor how effective they are at sales techniques, and see how the process works. The funnel can be used in any business area, for sales, the end goal should be a purchase.  

To explain, for each step of the funnel, you can set clear steps for the team to achieve each part of the funnel process. Each interaction with a client can be in mind of this funnel stage, with specific requirements on the team member to follow in their engagement.  

Team members can confirm they have followed each step in the process from (for example) awareness to purchase. If there are difficulties in any particular step, then either consider giving constructive feedback to the member or consider modifying the funnel. 

How can you track this?  It is best to record interactions with clients, and meetings. We will come to that shortly. Additionally, it is worthwhile considering some automation. For example, Active Campaign automates sales processes, and tracks the interactions with clients. The sales team can control each step of the process, and you can observe what is taking place. This allows you to ensure the sales funnel is being followed and what sort of results are being achieved. 

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Tracking Cold Emails

If cold emails are not as effective as they can be, you will be missing your targets. How your team cold email potential customers is a cornerstone of sales and this needs to be measured. A good cold email should be the following:

  • Quick and to the point, no one wants to read lengthy emails;
  • Personalized: People want to feel it is made for them, so as not to look like spam;
  • Engaging: They need to draw the reader in.

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However, when you’re talking about sales, lots need to be sent out and to personally write hundreds of emails takes time. So what’s the solution? 

Provide a cold email software that allows for personalization, to ensure that emails provide the key information with a personal touch while streamlining the process through automation.  A good CRM software can help through automation of the process. Other software or sometimes the CRM, such as Hubspot can track your emails, so you can see how the team is conducting their cold emails. 

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These softwares, combined with KPIs, can allow you to see what sort of ROI you are getting. If you see how many emails are being sent out, can check them, and see what results are being made, you can track your team’s process, and good CRM software can do just that. 

Checking the Quality of Sales Calls

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Calls in addition to emails need to be of good quality. Personalized, efficient, and to the point as well, it’s essential to know if your team’s calls with potential clients are their best, that they communicate well in settings, and do all they can to close the sale.

While you can and should use software to help with scripts for calls, that are personalized and easy for the sales rep to follow, it’s essential to check how they are if you want to track their performance. 

Notiv is a software that can record any online meetings, whether they are between clients or staff, and unlike rival services which focus on transcribing whole meetings, Notiv can focus on the key facts from any meetings, so when you want to find what took place, it will be an easy and quick task. This way, you can observe what is taking place in meetings, to ensure that your team is doing their best. 

Conclusion 

There are many solutions you should consider to track your team performance. KPIs, metrics both provide clear goals and remind your team what to achieve. Provide funnels, have regular reviews with your staff, and focus on things outside the numbers too to keep an eye on progress. Cold call and cold email scripts help the team achieve better results as well. Last but not least, meeting recording software such as Notiv, can all help with tracking sales performance and checking up on meetings when you cannot be present. Sign up for a free trial, see how much time you can save, and keep track of your team’s sales approach.

An Ultimate Guide To Managing A Fast-growing Sales Team: 6 Expert Tips

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Has your sales team grown thanks to success, but all of a sudden started to plateau, missing sales quotas and generally not performing as you want? Struggling to keep track of your team in general and losing vital information? Or are you worried that this will happen soon?

Keep reading this guide to managing a fast-growing sales team to prevent potential issues.

Why sales team management is vital

As your sales team grows rapidly, it can get more difficult to know how to manage them, leading to ineffective management. Missed quotas, high staff turnover and other problems can result when a team is poorly managed. When people don’t work productively, they are less efficient, and they then feel they are better off elsewhere.

It becomes a catch-22, as now the team is less productive, losing the productive members who feel overburdened, increasingly making it hard to manage, leading to worse performances. In addition, with a large sales team, it is hard to keep track of what each member is doing, how they interact with their customers, and how they approach their sales.

sales team

No matter what sort of team you manage, whether it’s internal or outsourced, remotely or offline, you can always benefit from learning some of the sales management best practices. This article will provide six steps on how to manage a sales team.

Step 1: Organize the processes for cold outreach

Cold outreach can be challenging, no doubt, and a vital part of any sales business, as it secures your first customers, as well as your new customers. When this isn’t organized properly, it will be harder to achieve, and your team will struggle to meet their quota requirements.

The average response rate to cold emails is about 1%, and the conversion rate has been dropping over time across the board. Make sure your team is doing proper market research, personalizing contact interactions, and when it comes to emails, make sure the team is writing quick and brief emails, sending follow-ups, and generally putting a bit of time into cold emails. This will improve the response rate significantly.

Analytics is also a useful tool to keep a track of responses and details of who is being reached out to, who responds, and who is converted. The approach can then be tweaked in line with your team and customer’s specific needs, for even greater success. Analytics will be mentioned a few times in this post!

Incorporate software into this process, to automate work while maintaining the ability to personalize your cold outreach. For example, QuickMail (which has a free version) can help streamline the cold emailing process through automation, and integrates with other apps with ease. This program still provides a good degree of customization to ensure your potential clients feel they are being paid attention to in their communications. When the cold outreach process is streamlined, the team will better approach the task, get better results and the customer will also have a much better experience at their end, in addition, boosting sales.

Tools for cold outreach

Step 2: Introduce a CRM system

Just like how analytics about cold outreach can help keep track of success, a CRM (customer relationship management) system can be really useful for sales team management. CRMs keep track of all the up to date important information about customers, every interaction, every request, every email, call and so on. It is all stored in one place, to help support the sales team in their interactions with customers by giving them all the vital information. 

Without a proper CRM, details are lost, information gets out of date, and sales have to ask repetitive questions, which results in difficulties when trying to build relationships with the customers. If this happens, the customers will simply leave.

There is a really wide range of CRM applications that are very easy to use and very accessible. Many CRMs can be free, such as HubSpot CRM for Sales Leaders, so there is little reason to not take advantage. What is important is to find what software best works for your team, and is compatible with anything else you are currently using.

CRM for sales team

Step 3: Set up rules for managing sales reps

Sales rep management requires rules to help get the best success rate.  Give your sales reps standardized rules and processes that will achieve the most. Without some standardization, the team will make mistakes and struggle to achieve the results you want them to!

For example, set up a “sales funnel”, with a range of steps on the way, which should be simple and easy to follow. Train the reps to internalize these steps, starting at introductions and ending in receiving the payment.

sales funnel

Apps, such as getresponse (which starts at 15 USD per month), can help with this, by providing a visualisation of the approach and automating the process. Whatever goal you have for your funnel, can be adapted. So if it’s sales, marketing, or whatever else, the funnel will visualize the entire process, helping you manage your team and for your team to get better results.

The step by step approach, whether we are thinking about work, studying, or day to day life, will always make tasks easier, clearer, and more achievable. For sales, it is just the same.

sales team management

Step 4: Set clear and understandable KPIs

When looking at how to manage a sales team, the use of KPIs, a key performance indicator, helps to keep track of the success of the company. There is no universal KPI standard; you need to set them in relation to your business, your goals, and how you wish to achieve success.

For example, if you want to achieve an increase in sales (which presumably you do if you are reading this article), you may define your KPI as to “increase sales by X%”, or “upsell by X%” or “increase response conversion by X%”. The KPI or KPIs need to be clear and understandable for your sales team, so they know what to focus on and to give them a sense of purpose. 

Software can interactively display these KPIs, and use statistics to ensure that no important data is lost and the KPIs are clear to the team and achievable. For example, Simplekpi displays the goals alongside other key information such as reports and analytics.

Sales team KPIs

By taking advantage of this type of software, your team will see the KPI, if they are reaching it, and what needs to be changed to succeed. Without making the KPIs clear and easy to understand and track, they won’t be effective motivations for the team.

Step 5: Prepare scripts for a sales call

We talked a bit about cold outreach before, and when it comes to calls it is very important to have a suitable script. A script will help make the process of making a days’ worth of calls more efficient, and then any curveball questions asked to the team member will be easier to answer, as they haven’t used all their brainpower creating an entire conversation.

Note: this doesn’t mean these calls should be impersonal, they require personalization, prior research about the client (this ties back to point 1 and the CRM), and leaving room for creativity. However, by following a script, it will make that outreach a bit easier and efficient for the sales reps.

There are software solutions that can help with this. The challenge of a script is to balance efficiency with the personalization that customers will want to hear. Software, for example, Stonly, can offer custom interactive scripts, displaying the history of the customer and what next for the caller to do.

Stonly software

This allows the caller to not get overwhelmed or lost with a written script, provides what is necessary for them to say to not overload on the customer, and generally streamlines the process.

Step 6: Record every call with a meeting management software

The final tip we will give is to oversee all meetings and conversations with clients. With a growing team, it’s impossible to observe everything at once, but you may want to ensure that your team is working to full capacity, aiming for the KPIs, using the funnel system and scripts, and generally doing their best. 

You can use meeting management software such as Notiv, to do all of this. Notiv can help organize information before, during, and after meetings. It can also transcribe all interactions, so you can monitor what has been said and check back for important information that has been exchanged. Sign up here for a free trial!

Notiv meeting

Conclusion

A good range of sales management strategies are important, but they can be difficult to manage. This is where sales team management software can come in. Notiv helps your team improve, keep track of information, and use it to improve both the team’s and client’s experience of interactions. Now you know a bit more about how to manage a sales team.

5 Practical Strategies That Will Increase Your Sales Team Productivity

Sales team productivity

Sales team plays a pivotal role in any enterprise’s success. If they are too busy with other tasks along with meeting sales objectives, it will likely cause sales to drop and decline in sales team productivity, hitting the company’s profitability. Forrester, a global market research company, conducted a study to analyze the activities of sales executives in more than 150 firms. They found that these sales execs were only spending 23% of their time selling, and 27% of their time involved in less productive activities, such as preparing expense reports. 

Reducing this time spent on internal activities would result in an increase in sales productivity. But focusing purely on sales improvement figures is only half the equation; sales representatives need to be supported through mentorship and effective coaching, as well as training for selling responsiveness and monitoring performance. 

So, how do you resolve issues your sales team is facing, while motivating them to effectively and sustainably increase sales? Here are five practical strategies for sales leaders to enhance their sales team productivity, morale, and efficiency.

tips for sales teams

5 Productivity Hacks for Your Sales Team

Build a strong team spirit and set a roadmap 

Every sales member wants to feel successful and a valued part of a wider team. The sales leaders can unite their salespeople around organizational goals, resulting in sales improvement.

  1. Promote collaboration and the exchange of best practices between your employees. Experienced executives guide their younger employees by giving tips on how to close more sales. Bringing value through collaboration is rewarding – play on the group effect: together, we are stronger.
  2. Treat your team members fairly and avoid favoritism or discrimination. As a sales leader, you should avoid arousing discouragement and demotivation. 

The sales heads are also responsible for setting up the strategic direction of your team. This involves in particular:

  1. Defining and clarifying objectives;
  2. Developing an action plan to achieve these objectives (short-medium-long term goals);
  3. Analysis of results;
  4. The implementation of corrective actions;
  5. A dynamic system of information transmission.

Additionally, it is the job of the sales leader to provide their team with the necessary tools to carry out their tasks: sales assistance, pipeline management, marketing alignment, dashboards and KPIs, just to name a few. These tools can change and improve your sales team productivity, as well as the way the team interacts with customers.

Amazing sales team

Value your team efforts and tailor rewards accordingly

Rewarding the progress of your salespeople is one of the best ideas to improve sales performance and team morale. It is a tried and true way to motivate each salesperson  to achieve their targets or even exceed them. 

When we talk about rewarding salespeople, we often think of financial incentives or bonuses. However, there are other types of rewards that you can offer that don’t always depend on the state of your company’s finances.

  1. Recognition: Through company wide emails, “salesperson of the month” notices on the bulletin board and so on, an organization can communicate how their company values the efforts of its salespeople. Put your best salespeople in the spotlight and motivate the rest of the team;
  2. Offer experiences: It can be a trip, a cultural outing, or a team dinner for top performers;
  3. Trainings and Conferences: You can send your best salesmen to attend conferences, lectures, talks, or trainings to learn new skills, make new connections, and step away from their daily routines to experience something new.
  4. Certificates or awards: Also a form of recognition, but something more tangible, awarding trophies, or certificates for top performing sales reps can be a powerful motivating force for sales teams.

Important note: Do not count only the increase in sales performance, but also highlight involvement, effort and customer satisfaction. If a team member delivered less than usual this month, it may be because they deepened certain relationships with clients, locking in greater returns in the future.

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Measure team performance to increase productivity

Much more than a simple tool for processing and managing customer relationships, CRM software is both useful for testing the effectiveness of marketing and  sales strategies, as well as for and evaluating your salespeople.

In addition to knowing each profile and the corresponding needs, sales executives must also systematically communicate with their prospects. As a place to store and utilize customer information to generate leads, CRM software can be extremely useful. 

CRM implementation

A CRM has the following advantages: 

  • Improved customer/prospective customer knowledge;
  • Automated digital prospecting set up;
  • Optimization of commercial performance;
  • Additional sales;
  • Customer acquisition costs reduction and time-saving;
  • Ease of exchange between your sales teams.

When you lead a team of salespeople, you can measure their performance with the help of a number of indicators such as:

  • Average sales value;
  • Sales productivity;
  • Costs per converted lead;
  • Customer satisfaction rate;
  • Market share by segment;
  • Repeat purchase rate;
  • Number of contracts signed;
  • Current business valuation / target ratio;
  • Ratio of deals concluded / lost market.

CRMs also automate routine manual tasks such as data entry, so sales reps can focus on their main mission — selling. It also offers managers real-time insights on the progress of individual team members, using the centralized platform to document the sales process and keep the team on the right track.

Record sales calls and meetings to improve your team’s performance

Especially since the start of the pandemic, companies are having more sales calls and meetings than ever. For the sales team, these calls and meetings can be valuable sources of information, helping to better meet customers’ needs and close more deals.

We recommend using Notiv – an AI-based meeting note taker that records and transcribes all details related to your prospects, and automatically identifies key moments, so you can utilize important details with ease. When speaking to customers, salespeople are dealing with so many things as the conversation proceeds – asking relevant questions, discovering their needs and concerns, and explaining the benefits of a product/service. Notiv preserves all calls/meetings, so you don’t have to ask the client to repeat the information. You can replay these recordings to take note of key information whenever you want, and prepare relevant offers for prospects.

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Effective team coaching via internal meetings

Sales coaching is not a task performed once or twice a year, it should be done on a regular basis. These meetings are important touch points for the sales team, and managers can use this time to teach something new, boost the team’s commitment, review performance, discuss important issues, and share key insights. Unfortunately, sales executives come out of these meetings with discussed action items that are easily forgotten, as no one was taking any notes. This makes their implementation unlikely. 

Notiv seamlessly syncs with several video conferencing tools and even transcribes recorded videos, helping your team work with what was discussed. Notiv’s smart AI highlights key phrases, lets you create actions and tasks, and then distribute them internally. Additionally, these records can be turned into a digital document for collaboration, where teams can follow the guidelines and refer to any tips when communicating with their prospects. 

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Conclusion

This article offered practical advice on how to improve sales performance and strengthen a team’s skills over the long term.

Companies can beat the competition if they invest in promoting the productivity of their sales teams as much as they invest to improve their production process. By embracing technology such as the use of CRM for leads intelligence and using Notiv to document all information shared during meetings or calls, you can definitely improve your team productivity and improve your margins. That’s the wonderful thing about Notiv – it empowers salespeople to do their jobs better. 

Want to know what Notiv can do for you? Sign up for a free trial and see it in action!

Pros and Cons of Working from Home

working from home

Over the past year, our team at Notiv has upheld our ‘remote-first’ motto and these are some of the lessons we learned, including the working from home pros and cons for employers. A remote team, sometimes called a virtual team, can be lauded as the future of the workplace.

One of the lessons we learnt from the Deloitte Millennial Survey is that as technology advances with 4.0 technology, artificial intelligence and increasing globalization, the workforce and how we work will inevitably change to adapt. In this sense, the first step to managing remote teams is adopting and embracing flexibility.

However, the terms ‘remote’ and ‘virtual’ can be used interchangeably but they differ in a few ways.  A Virtual Team comprises of members possessing a varied set of skills who work on a specific set of issues. They may work for different managers and are not usually geographically co-located. This factor though may vary from company to company. Their work is characterized by the ‘dotted line’ reporting and once their work is done or the issue is resolved, they “disperse”.

Whereas Remote teams work for a manager directly but they are not co-located, nor are they bounded by skill. An example of a remote team is a field-based sales team, whereas an example of a virtual team is a remote-first start-up like Notiv!

Managing remote teams

Notiv has always been a ‘remote-first’ team, we first launched in 2018 with a four-person team based out of the United States and Australia. Today, our team is based across the United States, Australia, South-East Asia and India! But it’s not just us. The remote-first culture is rapidly gaining traction in the workplace, with many new businesses opting for remote teams. However, remote team management is a crucial consideration. So, let’s dig in!

Working from home pros and cons for employers?

For one, you will need to balance a fine line between flexibility and adhering to ground rules. Managing remote teams includes taking the following into account:

Dealing with Multiculturalism

A remote team does not have a specific workplace or work time. This means there may not be any borders to your work-space. In dealing with workers from multiple cultures or countries employers, you will need to be aware of culture-specific practices, holidays and other sensitivities. Maintaining international holidays will help maintain your workflow. Encouraging team members to respect diversity and embrace multiculturalism will help bond remote teams effectively. Once you have defined the culture of your company, then you will need to protect it.

Communication

It is important to communicate with your team effectively given they won’t have the facility to ask for suggestions in the same place. Forbes conducted a survey where 97% of people believed that a lack of proper communication hampers the workforce. Therefore, building strong communication between your team is important. To improve the productivity of your conversations, some simple tips include, setting and agenda ahead of time, using the parking lot method and leveraging the right tools to maximize the value from your time spent in a meeting.

Boosting Employee Morale

While the best way to improve employee retention is to consider your hiring process, boosting employee morale will also drive the productivity of the workforce. Giving positive feedback, training and keeping communication open were core tenants in the Deloitte Millennial Survey that proved to boost employee’s morale, retention and the overall success of the company.

working from home

Pros and cons of a fully remote team

According to the Global Leadership Summit, by 2020, it is expected that at least 34% of a company’s full-time workforce will be working remotely.

Pros

Access to a large talent base

Remote teams comprise of talent from across the world. This leads to getting the best talents and skills, along with diversity and the freshest of ideas and creativity.

A motivated workforce

A survey found that 53% of people preferred to work from home than in a traditional office space. Not only is it a more comfortable space, employees are better able to manage their tasks and time. Particularly for employees that require flexible work arrangements due to caregiver or health issues, this can be a highly motivating factor, leading to happier employees and higher productivity.

Reduced expenses

Rent, office supplies and other welfare costs are not applicable to remote teams that can save business significant amounts each year. Apart from money, remote employees also save time and energy that is otherwise spent on travel or commute.

Cons

Distractions

One of the most common working remotely challenges that employees may face is the dreaded trap of procrastination. While working from home may be comfortable, it comes with its fair share of distractions. Having distractions or employees who are unable to self-manage tasks can adversely affect work productivity. While working from home may not be for everyone, employers and potential remote workers can make better informed choices by understandings the pros and cons of working from home before the hiring stage.

Lack of Communication

Communication issues can occur even when you’re in the same room. Therefore, given that remote teams don’t work in the same space, department or timezone, communication issues must be well managed for. However, with video conferencing tool, online chat tools and other meetings tools, like Notiv, the idea of an augmented brain across a remote team is very possible. The important point to remember here is that any team needs a way to discuss and share information easily, and a culture that supports collaboration.

Over this year, we found that implementing proper management systems across the entire team helped us improve our communications, documentation and improved our project outcomes. Effective remote team working is as simple or complicated as balancing the various pros and cons effectively and specifically for your team.

With the future moving towards technology-based solutions, this concept can be a massive success if enough technological advancements are involved in the daily operations of the various processes.

If you found our tips interesting, useful or if you have any additional tips to turn any remote-first company working on this concept into a truly global entity, let us know! Tweet us your tips!

How to Excel at Work: Tools and Tips to Becoming Irreplaceable

excel at work

Joining any workplace is a scary and alien experience. Will my boss like me? Will I hate my job? Will I excel at work? Can I handle the pressure? There can be so many things to worry about. Knowing this, it’s no wonder people jump from job to job. In fact, it is said people change jobs at least 12 times in their career.

Interestingly, a millennial survey by Deloitte states millennials are the most likely to switch jobs frequently. But, this doesn’t come voluntarily. Several studies show people are forced to look for new jobs due to issues such as poor performance or misalignment between values. With this in mind it got us wondering, how do you become irreplaceable and excel at work?

What do bosses think?

“People who are genuinely enjoying their job and who are inspired to continue to be better every day. These are the people who actively help others grow, they share their learnings (including their mistakes), and they are incredibly dependable. These people, while they use the word “we” rather than “I”, they themselves still stand out as individuals.” – Becci Reid, Founder at Notiv.

Putting it into practice

Be a half-full kinda person

Every office has one. That one employee who is constantly happy and positive (even if they’re crying on the inside). Love ’em or hate ’em, you can’t deny that their positivity is contagious. That’s what every company needs. Entrepreneurship is difficult because of its up and down nature. In times of stress, that positive attitude can help motivate and inspire teams to persevere. Leaders also tend to trust these types of people with tasks because they appear confident in their abilities. These are the individuals that truly excel at work.

But how do you do this? It’s not as easy as flipping a switch. Luckily, there are some practices that you can adopt to ‘fake it till you make it’. These include avoiding the blame game, providing support to others, taking an interest in your colleagues and being grateful for and respecting your team. After all, you’re all there for a reason.

Commit yourself

Deadlines can be tough, especially when it comes to choosing between quitting time and overtime. However, the willingness to go above and beyond shows your boss that you’re passionate about what you’re doing. Do the due diligence so that you too can rest easy, knowing that you’ve done your best. Dedicate yourself to high standards, but don’t compare yourself to others. This also involves knowing what you can and cannot do. It can be easy to say “yes” to everything, but over committing yourself is the best way to fall short.

“There’s always gonna be another mountain, you’re always gonna wanna make it move”

While the process is important, in the end, we all want results. Chase those results by bringing new ideas to the table. Everyone experiences road blocks, even if it’s just writer’s block. But before you admit defeat or run to your boss, look at what you can do to unblock yourself. Come up with potential solutions and then see if your boss can help you achieve them.‍

Diversify

While you don’t want to over commit yourself or overstep boundaries, it’s always a good idea to try to be involved in a variety of things at work. Instead, try offering your colleagues help or expertise. It will not only help you build strong relationships outside of your immediate team, but it’ll give you exposure. These opportunities to network are especially crucial if you work in a large organization.

Most of us are skilled, but it’s only the ones who showcase their skills who get noticed. Just don’t volunteer for something that you can’t do, and if you suddenly realize that you can’t handle your tasks, bow out early.

Sharing is caring, but also learning

As the workforce changes, employers also look for different things in their employees. Lifelong learning is important for your career and mental health. The good thing is that everyone has something to learn and something to impart. That’s the true mark of teamwork. Take the time to talk to your colleagues, bosses and even trainees. You never know what experiences and knowledge someone might have until you start to share.

Aim to make other lives easier

Let’s go back to the basics. Why would your employer keep you around? Probably because you make their lives better, or easier. Surveys have shown that top performers understand their leadership’s shifting priorities and adapt to help drive the end goals. Of course, this means that employers will need to communicate these end goals, but building trust and credibility is a good place for an employee to start. While you should always stand up for your rights, it’s important to nix bad habits like, shifting blame, becoming overly emotional, being apathetic or embracing the solitary lone-wolf life.

No matter what your role is, everyone can strive to excel at work and become irreplaceable to their company, colleagues and their clients. Be invaluable to anyone who spends time with you, because you’re giving up just as much of your time. An invaluable boss can make a world of difference in an employee’s work life and considering that we spend most of our time at work, you could even change lives.‍

Need extra resources to help you excel at work? Check out these hacks to be more productive at your workplace!

How to Excel at Work

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Employee Retention for Startups: Ultimate Guide to Retaining an Amazing Team

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Workers in the United States have a strong tendency to move around quickly, and at a large cost to employers. In 2016, 47% of workers admitted to replacing more than 20% of their employees throughout one calendar year and reports determined millennial turnover cost companies $30.5 billion collectively each year. Low employee retention rates in the United States are not only costly to businesses but also heavily influence the way a company operates and it is perceived by the public long term.

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Source: Stats and Remedies For Employee Turnover In The Middle East

Why Does Employee Retention Matter?

Cost efficiency

Employee retention is notably important to employers conceivably due to its ability to cut costs. The numbers speak for themselves and essentially it will cost an employer twice the amount of one employee’s salary to hire and train a replacement. In addition, the cost of hiring isn’t limited to the salary, but it also drains human resources to headhunt, interview, onboard, and finally train an employee for a new position.

Consistency

As it is more expensive to hire, onboard and train a new employee, it causes consistency within a company to falter. New hires usually entail months of training within their new roles, getting accustomed to company culture and becoming comfortable in their new positions. These employees could also eventually end up training newer hires which will further impact how the company operates.

While it takes time to learn the culture of a new company, it is another thing entirely to promote the culture accurately. Like a game of telephone, as the process of passing something on gets longer, the more it changes. So, retaining employees for as long as possible is the safest way to ensure a company’s brand is intact and being represented properly.

Employee retantion

How do You Create Employee Retention?

Hiring

The easiest way to prevent employees from wanting to leave a company is to improve the process at the source: who companies hire and how. Focusing on applicants who are excited about the prospective job and seem genuinely interested in being a part of the company is an important objective when conducting interviews because those applicants are the ones who are more likely to want to stay with the business long-term.

But how they are hired is also essential. A Gallup study found only 12% of employees found their company onboarding process good. The lack of a good onboarding process has been reported to result in feelings of disengagement within 3 months, which prevents the formation of an emotional bond between the employee and the company — this connection can make or break retention. A positive hiring environment is beneficial to all parties involved; the employer knows they will have a committed employee and the employee will be enthusiastic about their work environment.

Company Culture

New hires want to know they will be happy in their workplace and to know the organization stands for the same ideals they do. Studies have shown millennials are 25 times more likely to stay long-term at a workplace they believe in, which in turn minimizes company turnover costs. For example, 71% of millennials who strongly believe they know what their organization stands for and what makes it different from its competitors say they plan to be with their company for at least one year. This suggests a positive company culture in which employees find valuable aids employee retention for at least the first year.

Training and Advancement

In any industry, people want the opportunity for advancement within their career. The intelligent manager will invest time in supporting their employees to realize their short-term and long-term goals. For example, creating the opportunity to attend workshops, up-skilling courses or relevant industry events. Failure could be perceived as a lack of care for their employees, which can dampen morale.

Communication

A communicative and collaborative process, structured to inform, empower and recognize employees and their work contributions are crucial. Communication that is top-down, bottom-up and also lateral engages the community and provides management with a shared insight into the ‘health’ of the business.

In combination, these elements can provide businesses with a retention strategy built from a genuine commitment to serving your customers and employees.

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It’s your turn

It’s pretty clear many business owners have trouble retaining their employees. Having more insight into how to empower your employees and keep them will allow you to reach lengths in your business you never thought were possible. However, unless you actually adopt these tips mentioned above, you will fall into the 47% of business owners who need to replace their employees in their first year.