Quota based roles present disparate performance challenges.
According to CSO Insights, around 50% of sales reps are meeting sales quotas, with 40% underperforming, leaving just a small number of top-performers;
Whatever your company metrics, performance fingerprint technology will help improve productivity and create greater return on the fixed cost of employees.
Poor fit personnel; hiring, coaching and career pathing-decisions create high early- tenure attrition, slow ramp, lost leads and revenue opportunities, lost customers and uninspiring customer experiences.
Reducing miss hires, and increasing top performers, maybe the highest ROI opportunity available to all businesses, particularly if there’s a repeatable formula to drive predictable outcomes and create employment opportunities for a broader group of people.
Traditional job evaluation methods are flawed.
I/O psychologists define 4 key forces working against productivity that disallow organizations from achieving maximum potential.
- Poor job fit leads to suboptimal performance
- Higher quality job fit provides an opportunity to maximize ROI on the fixed cost of a workforce, closing performance gaps and impacting almost all productivity metrics.
Performance fingerprint technology offers a forensic level of on-job evaluation using local workforce and workplace data for greater precision than previously possible.
Job evaluation, i.e. who is doing the work and what tasks and form that are optimal, is critical. Performance fingerprints provide a scientific understanding of current production and of prospective employee performance. This diagnostic provides a new dimension of insight: selection, development, and retention intelligence and where to invest training, coaching, and engagement dollars for the highest ROI impact.
If the goal of employee selection is to select people with a high probability of performing well in a specific job, then the selection algorithm must be built using actual employment outcomes, and which directly reflect organizational goals relevant to the job role. These may include job performance effectiveness and productivity measures such as sales goals attainment percentages, length of service, promotions, commission increases, probationary survival, disciplinary incidents, absence, or other quantitative measures.
These concrete business outcomes then need to be correlated with independent variables that actually explain causality. However Instead of utilizing resume data, keywords or big data, the algorithm uses more meaningful variables such as curiosity, work ethic, accountability, gratitude, and optimism, for example, which avoids long standing hiring biases like who you know or where you went to school. The process is entirely unambiguous and scientific, using proprietary datasets to define what attributes drive top performers improving upon existing evaluation methods.
You can join a growing number of companies deploying performance fingerprints. Gain a deep understanding of what is contributing to the success of your team, and what attributes are early warning signs of failure, or lack of job- fit.
A better quality of fit drives improvements that resonate throughout the entire employee lifecycle closing accountability gaps between leaders in Talent acquisition, HR development, Sales, Business leaders and C-suite.
Powered by convergent technologies, a people intelligence platform ingests your company’s native data and creates an operating fingerprint to identify the unique attributes driving production. Performance fingerprints are developed from bespoke models delivering accurate predictions on what your current and prospective employees will achieve; revenue growth, meetings booked, and all other KPIs. The analytics, prescriptive actions and results are compelling.
A dashboard view distills what’s valuable to managers and what is expected from prospective employees. In the following dashboard view, this particular tech company developed 2 performance fingerprints; 1 for a Sales development representative - SDR and 2. For a Corporate account executive - AE role to help determine suitability of candidates and the value of employee progression from an appointment setting quota role to a revenue quota role.
You can see Zoe was a great fit for the corporate account executive (AE) sales role with a very high-performance prediction of $236K per quarter. However, the predicted output for Zoe on qualified meeting attainment in the SDR role was below average at 64%
Looking closer reveals insight that leads to greater, cumulative tangible and intangible benefits. Before fingerprint insights, Zoe might have been hired into the SDR role. It's then likely she would have eventually failed after 12 months given low QMA attainment.
Scenario based on one employee:
- Disengaged employee salary: $75,000
- Time to fill position: 70 days
- Hiring manager’s salary: $100,000
- Training days: 20 days
- Productivity ramp up: 60 Days
- Time spent interviewing: 8 hours
- Zoe's predicted AE revenue attainment $236,000 per quarter, $36,000 more than high performer attainment- $144,000
- Loss of 36% qualified meeting attainment from a better fit SDR
$200,000 lost productivity with other drag - Overall tangible and intangible cost can be high at 2x or more than OTE
This company subsequently adjusted their hiring policy to allow relevant candidates to go directly into an CAE rather than the traditional BDR path avoiding poor fit mistakes for significant productivity gain.
A 15 minute assessment for any candidate reveals quality of fit insight aiding speed to hiring the right candidate.
Performance fingerprints provide a previously unseen view of current salesforce and prospective sellers. See how these analytics helped a client makes 6 moves to increase annualized revenue by $2.5 million with no increase in fixed costs
Why do performance fingerprints improve upon existing evaluation methods
• In a 2019 survey of > 3,000 companies only 21% of US employees were actively engaged
• A Gallup survey identified for every $10,000 spent on salary, $3,400 is squandered due to lack of discretionary effort
• Disengaged top performers are 12 times more likely to leave than core performers
• Up to $600 Billion productivity is lost annually in the USA due to disengagement