IBISWorld reported back in May this year that total revenue by new car dealership reached $956 billion. This figure is close to the more than $1 trillion recorded for 2018. Cars in America are also cheaper than in countries like New Zealand. A $20,500 Toyota Corolla in NZ can cost less than $19,000 in the USA.
While the revenue trend is going up, IBISWorld warns that the industry can be affected by changes in employment, consumer spending, and financing rates.
For this reason, you want to push your BMW, Lexus, and Audi out the door as much as you are cashing in on sales from Ford, Toyota, and Chevrolet. You also want to improve sales for parts. You need to do another round of recruitment to beef up your sales team.
Get ahead of the competition with these key strategies on recruitment:
Attracting the Best and the Brightest
Okay, you’re not recruiting a neurosurgeon to head a hospital’s training department. Still, selling is an art, and identifying people with the right skills and mindset is necessary for bringing in the right salespeople.
There is a saying in the recruitment industry: “The best person to hire is already hired.” Now, this is not a go signal for you to start poaching talents from other companies. It’s an indicator of how you should plan for your recruitment. Maybe you won’t get Jane this time, but sending signals about how good it is to work for your dealership might entice her to join your company in the future.
The point is to scout for talents early and build your pipeline. You should always be recruiting. If you see growing your team in the next two to three years, and accounting as well for staff attrition, this is one way to line up the best talents.
Digital and Traditional Platforms
Using these two methods shouldn’t compete. You need to use platforms like LinkedIn, social media sites like Facebook, and online job boards. It will feel like searching for a needle in the haystack, but you can get a gem or two now and then.
Fast track your screening process by using tools like Skype to do online interviews. This might help narrow down the 10 or 12 candidates to the best three to four who should come for in-person interviews.
Mobilize your existing talents. Ask them to recommend capable people whom they know and provide them with incentives like a referral fee. Because they know your company’s culture, they’re likely to identify people who can be a good fit.
Clarity in Numbers
Even at the recruitment stage, you should have your salary and commission rates set up and backed up by a policy on commission. Candidates can become wary if you aren’t able to make a clear presentation on what they’re supposed to earn.
You should do this for every single product and service. If company performance is affected by external factors, like a faltering economy, which hampers your capability to give out commission, you can maintain the prerogative to make the necessary adjustments. This should be clearly stated in the policy.
Lastly, some believe that providing a training salary will attract young and diverse talents. See if this is something that your finances will allow.
Recruitment is a continuing process whether you have a requirement now or not. Mobilizing the technology available and your existing human resources will aid in hiring the right people. Be clear with your numbers to prevent misunderstandings.
