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Sales Performance Management

Forget the skills gap: Take a look at the leadership shortage

By April 3, 2018January 16th, 2023No Comments

A workplace without a strong leader to help sales employees develop their career and skills is like a captainless ship. When workers feel as though they are bound for Destination Nowhere, they are more likely to jump ship before the boat crashes into an unknown shore. As workers go about their day, they may not be aware that a lack of leadership in the workplace affects their own personal and professional growth as well. However, for those who do, they may want to leave their employer for another company that has clear plans for their skills development and career path.

The problem of not feeling management’s presence on the job is widespread throughout the workforce, TLNT magazine reported, citing a survey by German human resources software firm Success Factors. The study found 42 percent of executives believe without effective leadership, a company’s plans for expansion may be slowed considerably. The results show plans could be derailed without leaders in the workplace who know what their role is in coaching, support workers to meet sales forecasts and put employees on the path toward growth.

Survey: Feedback from management lacking in workplace
With the survey focusing on leadership pitfalls, the study highlighted several areas where managers could improve on, including providing workers feedback and praising employees. The survey revealed that while more than half of employees agreed managers are great at delivering on leadership expectations overall, they do a less stellar job with feedback and performance reviews. Forty-nine percent of workers said their managers were good at performance reviews and 43 percent for informal feedback on performance.

Even seasoned managers know that feedback is one of the best ways to unlock employee potential and steer them toward behaviors or attitudes that are necessary for achieving the company’s plans. With managers needing to improve their feedback, they could look into the frequency and quality of their comments.

Here are tips to enhance performance feedback:

  • Offer specific points on work. Rather than giving employees vague comments on their quarterly performance, mention examples of their accomplishments and offer praise when they deserve it. Did they achieve the biggest sale of the quarter or help retain some of the industry’s toughest customers?
  • Back up comments with data. When managers struggle to offer their workers feedback, it could be because they do not interact with them enough or hesitate to deliver bad news. Supporting your feedback with hard statistics on performance could provide an objective view into their work. Employing sales performance management software solutions to measure employee productivity levels and sales could help managers solve that crucial issue of lack of feedback.

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Ballast Point Ventures

Ballast Point Ventures is a later-stage venture capital fund established to provide expansion capital for rapidly growing, privately owned companies in diverse industries, with a particular emphasis on companies located in Florida, the Southeast, and Texas. The BPV partners have more than 70 years of combined experience investing in and building high-growth companies in a number of industries, including healthcare, business services, communications, technology, financial services, and consumer goods. BPV has $200 million under management and seeks to make equity investments ranging from $3 million to $10 million.

Harbert Management Corporation

Harbert Management Corporation seeks to generate superior returns for their investors by identifying and investing in the most promising early growth stage companies in the Southeastern U.S. HMC seeks to capitalize on what it believes are compelling regional dynamics, such as a strong and fast-growing economy, significant research and development activities, and an established entrepreneurial community. The HMC team combines substantial investment, advisory, and operating experience with capital and networking contacts to support great entrepreneurial teams in successfully executing their growth plans. With offices in Birmingham, Alabama; Richmond, Virginia; and Gainesville, Florida, it’s well positioned to partner with entrepreneurs throughout the Southeast.

KBH Ventures

KBH Ventures was an early investor in Iconixx Software. KBH's investment philosophy plays a significant role in the firm's successful track record. KBH believes in running businesses to be cashflow positive and profitable every month. Startups and companies in a startup mode, such as one that has been purchased in distress, are expected to generate revenue within the first six months and reach profitability within the first 12 to 18 months. KBH also only invests in or acquires companies that are in the startup phase or have less than $20 million in revenues. KBH targets technology companies that offer business-to-business services.

S3 Ventures

S3 Ventures is an early expansion and growth stage venture firm with $200 million under management. It’s focused on information technology solutions that solve large business problems. S3 also invests in medical devices that improve the human condition. S3 invests in category-defining opportunities. It partners with the team and help focus methodically on what it takes to build a successful company. S3 today helps talented entrepreneurs take their technology and market knowledge and form valuable businesses in a repeatable fashion. Investment sizes start at several million or more for Series A, B, and C financing.