Strategies for Growing and Strengthening Your Team for Boosting Employee Retention and Income Generation
In the dynamic world of B2B tech, employee retention is not a matter of luck, but a result of intentional leadership, focused development, and a culture that encourages great people to stay. Jeff Weiss, the Chief Revenue Officer at CMiC, a global leader in next-generation construction management software, shares seven strategies to increase employee tenure and drive revenue in this sector.
- Advocacy and Support: Ensure your teams know you're advocating for them behind the scenes, whether it's fighting for fair quotas, negotiating competitive compensation, or setting realistic growth goals.
- Leveraging Long-Term Employees: Long-tenured employees in high-trust, consultative industries can build deeper client relationships, accelerate onboarding for others, and act as force multipliers across the business.
- Cultivating a Supportive Culture: Simple, consistent programs like daily wellness sessions, regular lunch-and-learns, or in-person connection time build a culture where people feel seen and supported.
- Prioritizing Curiosity over Credentials: In the hiring market, leaders should prioritize curiosity over credentials, as the most impactful employees are inherently curious.
- Combating Motivation Dips: The start of a new fiscal year can deflate motivation. Strategies like gamification, early pipeline wins, and transparent communication help teams regain momentum.
- Encouraging Internal Mobility: Encourage internal mobility between roles, departments, and functions to retain top talent.
- Addressing Underperformance: Underperformance is often a leadership issue, not a talent one. Managers should provide structure, support, and accountability to help their team members rise to the challenge.
These strategies, though not explicitly detailed, align with Jeff Weiss's emphasis on blending employee retention with revenue growth. By investing in employees—whether it means flying across the country to support a key meeting or advocating for fair targets with the board—companies can treat employees as long-term investments, leading to greater profitability.
In contrast, the average employee tenure in B2B tech is a mere 1.8 years, which can lead to lost expertise, weaker customer relationships, and slower revenue growth. High-performance organizations, however, go deeper in their onboarding programs, pairing new hires with experienced team members, prioritizing shadowing, and providing real-time coaching.
It's worth noting that the Forbes Business Development Council is an invitation-only community for sales and biz dev executives. This fact, while not directly related to the previous points, adds to the context of Jeff Weiss's leadership role in the tech industry.
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- Jeff Weiss, a member of the Forbes Business Development Council and the Chief Revenue Officer at CMiC, emphasizes that Investing in employee education and self-development, such as sending employees to conferences or workshops, can foster personal growth and contribute to business growth.
- In the sphere of finance, leadership strategies like encouraging career development through providing opportunities for internal mobility can lead to increased tenure and revenue in B2B tech, as advocated by Jeff Weiss, the CRO of CMiC.
- As the world of B2B tech continues to evolve, Jeff Weiss suggests that focusing on education, personal growth, and career development, rather than just credentials, can lead to a stronger, more curious, and dedicated workforce that drives both employee retention and business growth.
