The following blog was written by Brian Smith Jr., Channel Sales Manager at Vendition, who shares why apprenticeships are the answer.
Let’s face it: the economy is shifting, and the tech industry seems to be taking the biggest hit. If you’re in tech sales, you’re probably contemplating how to stay afloat while still building revenue in this market. I get it! And I’m here to tell you that the answer you’re looking for may very well lie in Vendition’s Apprenticeship model. Let’s jump in.
What’s Going On?
Lots of economists believe that we are heading into a recession, citing above-average interest rates, inflation (like gas prices being up nearly 50%), and ongoing supply chain issues as sure-fire signs of what’s to come. That’s obviously a red flag for all of us, but many of us in tech sales are feeling the heat a bit stronger.
In 2021, many tech companies experienced a boost in performance (and thus, hiring). But as we march through 2022, tech layoffs are becoming the norm everywhere, from large enterprises like Netflix to smaller startups. In May alone, over 4,000 tech jobs were slashed, and this trend is expected to continue as the market continues to shift.
Still, though, the sales realm seems to have something to say: entry level sales remains the fastest growing position, with nearly 200% growth year over year.
So the question becomes: How can sales leaders, recruiters, and hiring managers weather the current climate while continuing to generate revenue, without sending their companies into the red?
Apprenticeships are the Answer
The answer to these questions can be found in a practice most commonly used in Europe, but that has been adapted to many trade professions in the United States (and now, to sales): the apprenticeship model.
At Vendition, our Apprentices undergo a 12-week sales training program; you bring us your selling needs and we match you with high-performing, pre-vetted candidates looking to break into the sales industry. This in turn shortens your time to hire, so that you can get back to crafting new strategies for your sales team to win.
Our model essentially eliminates risk for hiring companies like yours (because, let’s be honest, you probably can’t afford to take too many risks right now), since the Apprentice is 1) on our payroll and 2) only hired full-time if you are satisfied.
And, we’re cost-neutral. In my experience as a sales leader, I’ve seen companies spend over $8,000 per month for a fully-loaded SDR. With Vendition, you’ll pay $7,000 per month and that includes the hiring fee, salary and benefits for your Apprentice. You’re also saving time on the training side, as we coach Apprentices throughout the 12 weeks.
Why This Matters Now
We’ve been pushing the Apprenticeship model for years, but I truly believe that now is the perfect time to make this model work for you. With market conditions the way they are, tech companies are laying off SDRs not due to performance issues, but in order to cut costs.
When you leverage the Vendition Apprenticeship, you can continue building pipeline with very little risk; if things go left, you’ll still have progressed in your sales goals and our candidates will have gained invaluable experience. If things go right (and, like you, I’m hoping they will), you’re already miles ahead of the competition as you’ve begun building a high-performing sales team with the support of Vendition coaches. It’s a win-win for you — and we could all use a win right now!
If you’re looking to continue building revenue in uncertain times, Vendition may be right for you. Connect with us today.