Editor’s Note: The following is an excerpt from Making Partner Managers Winners: What They Need to Succeed.
Sales training is a crucial ingredient for success. Yet many organizations struggle to see any ROI on their investment in sales training and coaching programs.
Top Companies Invest in Effective Sales Training
In a 2014 study, IBM found that 84% of employees in top performing companies believe they are receiving the necessary training to be effective, while only 16% of employees felt this way in the worst performing companies.
Successful companies and managers recognize that internal training is important, but how does this translate to partner management and alliance training?
At LearnCore, one client case study showed a 95% reduction in time spent managing partner issues, especially support tickets after implementing an end to end training program for partner managers on both sides of the alliance. This innovation in training provided the ability for partner managers to focus on growing the strategic partnership.
What’s Your Average Cost of Onboarding New Employees?
According to the Center for Economic & Business Research, a company with 50 employees can expect to spend $40,000 to onboard new employees. Another study cites 62% of new hires are more likely to stay with an employer because of training.
Reducing the cost of turnover preserves your investment in highly skilled partner professionals.
As business and alliances become more and more complex, training is the only way to stay ahead of the competition and ensure the success of both internal and external employees and partners.