Have you ever made a poor hiring decision? Have you hired a staff member that within a few days or weeks you knew that you made the wrong decision? Have you allowed that staff member to continue with the hope they would catch on with additional auto sales training, only to realize that decision was costing you money by not increasing your auto sales? Most people have made these mistakes not once but over and over again. What hiring managers fail to realize is the actual cost of that poor hiring decision.
Figure the Cost
Most auto dealerships offer any new hire a 90-day guarantee to make sure the salesperson does not starve while they are in auto sales training. This allows the staff to fully participate in training and learn about increasing auto sales, without having to worry about having a check at the end of the week or month. For the new hire, it is like getting free money in his or her pocket. It is an investment the company makes with hopes of getting a great salesperson out of the process, but this training period is not free to the dealership.
Advertising, interviewing, and new hire training can cost a company approximately $8,000 or more. If that new hire only performs at 50 percent compared to your successful salespeople, this can cost the dealership approximately $44,000 over the 90 day guarantee period. Failure to ensure service tickets by not producing higher sales can cost you another $23,000-plus. This means that just in the first 90 days alone a poor hiring decision can cost you in excess of $75,000.
Recruiting and hiring the right people is the number one hurdle for most dealerships. This ranks above maximizing service revenue and increasing store traffic. Most dealerships do not have the time or personnel resources to perform this task efficiently or effectively. Let EFG Companies, a firm with more than 30 years of performance management and recruitment experience, perform this task for you. Having worked with over 1200 dealerships, we have the tools and knowledge needed to hire the right sales staff that will produce increasing auto sales. Our high quality auto sales training will have everyone on your staff, regardless of experience level, exhibiting the customer service skills that will ensure repeat customers for years to come. Do not let a poor hiring decision cost you and your dealership money.