Sales Compensation That Drives Results: Elements of Winning Plans

The Modern Selling Podcast

If you're feeling frustrated because your current hiring process is only bringing in mediocre sales talent, then you are not alone! You may already be spending countless hours sifting through resumes and conducting interviews, only to end up with sales professionals who lack the drive and results you need. Instead of seeing a boost in sales team performance, you're stuck dealing with underperformers who are holding your team back. It's time to make a change and attract the A-level sales talent your team needs to succeed.

In this episode of The Modern Selling Podcast, Doug Dvorak, Motivational Sales Speaker, Trainer & Sales Performance Coach, shares his insights on attracting A-level sales talent. Doug is one of the most well-traveled keynote motivational speakers available today. Doug has earned his spot in the motivational speaking hall of fame. He has also been inducted into the International Who’s Who of Professional Speaking.

Doug Dvorak's journey from being a seasoned sales representative to a leader in sales talent acquisition is a compelling narrative of resilience and vision. His career spans the burgeoning era of the Internet, selling data communication products, to leading global sales teams in the realm of manufacturing enterprise software. Doug's story is a testament to the fact that attracting A-level sales talent is not just about skill; it's about creating an environment that resonates with top performers. His journey encapsulates the essence of perseverance and a relentless pursuit of excellence in sales talent acquisition.

We can't sell as Fred Flintstone anymore. We're George Jetson. And AI is in support to allow us to get more FaceTime, email time, phone time, zoom times. That's the only time we make money. - Doug Dvorak

This week's special guest is Doug Dvorak, the founder and managing principal of the Sales Coaching Institute, bringing with him a wealth of experience as a professional sales representative and keynote speaker. Having spearheaded sales of data communication products, web browser technology, and enterprise software to global giants such as IBM and John Deere, Doug's expertise in attracting and retaining A-level sales talent is unparalleled.

In this episode you will learn to:

• Master the art of hiring and retaining sales talent can transform your sales team's performance.

• Discover the secrets to attracting A-level sales talent and elevating your team's success.

• Uncover the power of using sales assessments for hiring top-performing sales professionals.

• Learn sales compensation plan best practices to motivate and reward your sales team effectively.

• Explore the impact of AI on sales leadership and how it can revolutionize your sales strategies.

The key moments in this episode are: 00:00:08 - Introduction to the podcast 00:01:25 - Doug's Background and Experience 00:09:02 - Hiring A-Level Talent 00:13:51 - Strategies for Hiring Senior Talent 00:16:03 - Attracting and Retaining A-Players 00:17:49 - Attracting and Retaining Great Sales Talent 00:18:50 - Hiring Process and Assessments 00:20:32 - Vetting Candidates and Cultural Fit 00:26:17 - Elements of a Successful Sales Compensation Plan 00:31:42 - Avoiding Complex Compensation Plans 00:35:01 - Importance of Compensation in Sales Leadership 00:36:39 - Impact of Technology on Sales Leadership 00:43:24 - Embracing AI in Sales 00:46:03 - Leveraging Technology in Sales 00:49:41 - Connecting with Doug Dvorak Timestamped summary of this episode: 00:00:08 - Introduction to the podcast Mario Martinez Jr. introduces the podcast and the guest, Doug Dvorak, founder of the Sales Coaching Institute. 00:01:25 - Doug's Background and Experience Doug Dvorak shares his background as a former sales representative and leader, and his transition to founding the Sales Coaching Institute in 2005. 00:09:02 - Hiring A-Level Talent Doug discusses the importance of having a well-constructed hiring process and building a farm system to identify and groom A-level sales talent, including partnerships with colleges and universities. 00:13:51 - Strategies for Hiring Senior Talent Doug suggests establishing strong relationships with search professionals who have expertise in the industry to help in the search for senior talent, as well as leveraging referrals from current senior reps. 00:16:03 - Attracting and Retaining A-Players Mario emphasizes the importance of leaders being interviewed by potential hires, and discusses the significance of personal brand and culture in attracting and retaining top talent. 00:17:49 - Attracting and Retaining Great Sales Talent Doug discusses the importance of branding to attract top sales talent and shares insights on the hiring process using the top grading system. 00:18:50 - Hiring Process and Assessments Doug elaborates on the top grading system and the use of sales assessment tools like Gallup's challenger or disk, as well as the importance of conducting thorough reference checks. 00:20:32 - Vetting Candidates and Cultural Fit Doug emphasizes the significance of vetting candidates through online assessments, interviews, and reference checks to ensure cultural fit and mutual value for both the employer and the candidate. 00:26:17 - Elements of a Successful Sales Compensation Plan Doug highlights the key elements of a successful sales compensation plan, including a reasonable base, non-recoverable draw, clear KPIs, and accelerators to motivate and attract top sales talent. 00:31:42 - Avoiding Complex Compensation Plans Doug discusses the negative impact of complex and changeable compensation plans, emphasizing the importance of simplicity, transparency, and fair compensation to retain and motivate A players in the sales team. 00:35:01 - Importance of Compensation in Sales Leadership Doug emphasizes that the compensation of sales leaders should be less than top performers. He discusses the impact of compensation on behavior and the mistake of promoting the best rep to a leadership role. 00:36:39 - Impact of Technology on Sales Leadership Doug delves into the effects of technology, specifically AI, on sales leadership. He highlights the game-changing nature of AI in automating manual tasks and freeing up time for sales leaders and reps. 00:43:24 - Embracing AI in Sales Doug stresses the importance of AI augmenting sales reps and leaders rather than replacing them. He discusses the productivity savings and the need for data-driven decision making in sales. 00:46:03 - Leveraging Technology in Sales Doug emphasizes the role of AI in supporting sales reps to get more FaceTime, email time, phone time, and zoom time to drive meaningful conversations. He underscores the importance of humanization and contextual relevance in engagement. 00:49:41 - Connecting with Doug Dvorak Doug shares his contact information for connecting with him directly and mentions his website and phone number for further engagement.

Hire and Retain Top Sales Talent Finding and keeping high-level sales professionals can be a game-changing strategy for organizations looking to expand their business. A thorough hiring process can include elements such as a detailed sales assessment, a well-structured interview, and even asking candidates to submit videos to demonstrate their skills and motivation. In addition, a comprehensive onboarding process and a transparent, easy-to-understand compensation plan can promote staff retention and encourage top performers to stay with the company.

Attract A-Level Sales Professionals Attracting top-notch sales talent requires a strategic approach that goes beyond just offering a decent salary. Companies need to work on their branding, create a dynamic sales culture, and establish processes that can identify and attract A-level talent continuously. Forming partnerships with universities to offer internships can also provide a much-needed funnel to attract and assess potential candidates that can later become full-time hires.

Power of Sales Assessments Sales assessments have evolved to become an essential tool in the hiring process, providing deep insights into a candidate's sales aptitude, personality, leadership skills, and more. Tools like Gallup's challenger or DISC can help verify if a candidate's skill set matches the job requirements and how comfortably they can fit in with the company's culture. They serve as an effective complement to reference checks and interviews, helping to ensure that hires are not only capable but also motivated and a good cultural fit.

• Connect with Doug Dvorak directly via https://dougdvorak.com/

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