What financial impact does hiring the wrong professional have on an organization?

The cost of hiring and training an employee is high, but not as high as the cost of damaged relationships with clients, missed opportunities or poor performance.

Millions of dollars are at stake.

Client sales research indicates:

  • $785,000 per wholesaler
  • $867,000 per institutional salesperson
  • $1.2mm* to $1.6mm** per manager

The cost of hiring the wrong National Account Manager, Product Manager, Product Development professional, Portfolio Management Liaison or other key individuals is likely higher.

*Divisional Sales Manager
**National Sales Manager

What is the impact of the right hire?

The “right” person can have a significant impact of the firm’s bottom line.

The “right” person is an inspiration to the rest of team, motivating everyone to succeed and reflecting well upon you.

Data for sales professionals indicates:

  • Top wholesalers and institutional salespeople raise 27% more than “average” producers.
  • Successful managers have teams that raise 21% more than average teams.

*According to RHRA Compensation Study