Recruiting is the #1 priority for a VP of Sales. Getting the best people and enabling them to succeed is a fundamental part of this job description. It should take up at least 20% of their time.
That makes the current economic climate tough to take. One of the first things to happen in lean times is a hiring freeze. As the company takes stock of what it can and can’t afford with reduced cash flows, something as expensive as a new hire — in any department — is given second thoughts.
VPs of Sales will need to do more with less if there is such a squeeze on capital. But this can be a blessing in disguise. As they can’t increase the headcount to hit their numbers, to still achieve growth they’ll have to look for other ways to improve their sales process.
With less resources forcing VPs to be more efficient, they should look thoroughly at where in the sales cycle enhancements can be made. Sales leaders can push the business to be far more resilient — better able to deal with both the current lean times, and in a more powerful position to take advantage of the markets once the financial situation improves.
Here’s why you should consider slowing down your sales hiring, and what you can do to mitigate cuts to your company, still achieve growth, and make more money available to get the reps you really need.