Building a more valuable salesforce
A financial services company needed a more productive salesforce and asked us for help. We recommended best practices that helped the company hire fewer, but higher caliber, recruits, doubling the value of the salesforce. When rolled out to all regional offices, the program will substantially increase assets under administration.
MoneyServices, a financial services company, needed to improve the quality of its sales force to successfully expand its product line and increase assets under management.
The Bain team conducted an internal and external review of best practices to maximize the value of each sales recruit.
Adopting best practices in recruiting, training and support of new representatives allowed the company to hire fewer people, yet create a more valuable class of sales recruits.
By achieving best demonstrated practices in all of its regional offices, MoneyServices can more than double the net present value of its sales force, which would result in assets under administration 50 percent higher than current forecasts and lead to significant stock price growth.
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