According to autonews.com, median tenure for a car dealership employee has steadily declined since 2011. Many businesses value employee retention, but it is decidedly more critical in the automotive industry. Good salespeople are the backbone of any dealership; their ability to generate leads and sales is an invaluable asset. Unfortunately, retaining top salespeople is not easy. To make sure your dealership is not a victim of this trend, follow these strategies to keep your salespeople right where you need them.
Understand That Time Is Money for Your Salespeople
A study conducted by Autotrader found that customer satisfaction is at its highest within the first 90 minutes on the day of purchase. Customer and employee satisfaction have a correlative relationship; satisfied customers make an employee's day easier and allow them to close more deals. Salespeople want their customers to be happy and make purchases, but unfortunately, this is an uphill battle against inventory, unrealistic demands and, most notably, the clock.
For salespeople, time is money, and anything that can streamline the buying process is a welcome addition to a salesperson's routine. According to above-mentioned Autotrader study, a good portion of a vehicle buyer's in-dealership experience is currently spent on selecting a vehicle for purchase. Electronic key control systems are one way to speed up this process. Salespeople can see if a key is currently checked out and who checked it out, which is invaluable information when trying to locate a desired vehicle. They will spend less time scrambling for keys and look much more organized and competent to the customer, allowing them to sell more vehicles and therefore make more money. Higher paychecks will give them the incentive to continue working for you.
Making sure your dealership has the latest tools and technology is one way to make you stand out as a desirable place to work. According to the Society for Human Resource Management, better alternatives are one of the top four reasons employees leave a company. Ensuring that your company is competitive on all fronts is one way to take steps toward upping your retention rates. A study conducted by Harvard Business Review found that satisfaction and environment together was one of the top reasons for an employee to stay with a company. Improving both of these factors results in highly motivated salespeople who want to work for your business.