What is Experience Worth in A Sales Career? And What it Means for Talent Retention
Sales is an occupation known for its high turnover rates. How do employers value a salesperson’s experience, and does it matter whether they have hopped between industries and firms? Dominique Rouziès, Professor of Marketing at HEC Paris, and her co-authors Bertrand Quélin and Michael Segalla (HEC Paris), Ali Reza Keshavarz (School of Business, Maynooth University) and Francis Kramarz (CREST-ENSAE), dug deeper to find out what experience means for a sales professional’s compensation levels and career prospects.
Are Strong Brands Stressing Out Their Mid-level Employees?
Most companies value the benefits of branding: customer loyalty, easier sales, premium pricing. But what does brand equity mean for the employee experience? How can businesses balance the advantages and possible drawbacks of strong brands? Dominique Rouziès, Professor of Marketing at HEC Paris, and colleagues Myriam Ertz of LaboNFC, at UQAC (Canada), and Emine Sarigöllu¨ of LaboNFC, at McGill University (Canada), set out to answer these questions by understanding the social mechanics driving employee attitudes towards their employer’s brands.
Five Lessons on Managing your Career in Sales and Sales Management
Sales is an occupation known for its high turnover rates. And for good reason: an HEC study shows that salary increases for salespeople tapers off within three years if they stay put. The study’s co-author, HEC Professor of Marketing Dominique Rouziès held a RESKILL Masterclass on October 19 to discuss her research on the value of experience. Rouziès and her colleagues (Professors Keshavarz, Kramarz, Quélin and Segalla) analyzed paycheck data of around 25,000 French salespeople and sales managers over a 20-year period to better understand the links between experience (i.e., careers) and compensation. These are five lessons Professor Rouziès shared in her Masterclass.
How to Handle People’s Data Ethically
Despite legislative transformation, the issue of data handling is far from resolved. Since GDPR (the General Data Protection Regulation) came into effect in 2018, the EU has collected over €3 billion in fines from companies who have broken the rules. And with the AI industry ramping up, the question of ethical data handling is more pressing than ever, say Dominique Rouziès, Professor of Marketing, and Michael Segalla, Professor of Management, both at HEC Paris.
Auto-Renew Exploits Inertia but Hurts Long-Term Profits
Subscribed consumers stay subscribed – a tendency that is often exploited by companies. However, a recent study by Klaus M. Miller of HEC Paris and H! PARIS center chairholder, Navdeep S. Sahni of Stanford University, and Avner Strulov-Shlain of the University of Chicago shows that in the long term, exploiting these consumer behaviors may not pay off.
How Advertising Influences How We Think About Brands, Step by Step
How consumer mindset metrics such as level of brand awareness, experience with the brand, and desire to purchase can be used to guide advertising decisions is still not fully understood. A recent study by professors of HEC Paris, Imperial College London, University of Navarra, Boston University and Northeastern University validates for the first time the old, and often contested, idea of analyzing them as a sequence of effects that ultimately lead to sales.
Artificial Intelligence for Business & Society
Make AI Your Ally
Artificial Intelligence has a potentially disruptive impact on organizations, firms, and society at large. The latest mind-boggling illustration came with the discovery of chatGPT’s mesmerizing results in November 2022. This followed a fall of investments in AI last year in Silicon Valley. From analyzing data in one’s business to increasing customer engagement and replacing humans in routine tasks across industries, AI is becoming more relevant to our lives and economy every day. Everyone talks about it, but do we really understand its opportunities and threats? And how can we make the best out of it, whilst ensuring that ethical requirements are met?
Do Consumers Care About Brands’ Social Justice Commitments?
The Black Lives Matter movement is officially supported by consumers and brands worldwide. However, brands that are true allies to the movement through their actions and words gain more customer support than those who simply join the bandwagon. These are the key findings of Professor L. J. Shrum of HEC Paris, Nathalie Spielmann of NEOMA Business School, and Susan Dobscha of Bentley University, following their investigation into whether brands’ actions in support of a cause matter to consumers.
How Consumers Read and Memorize a Price
Researchers in Marketing Gilles Laurent of ESSEC Business School and Marc Vanhuele of HEC Paris study how consumers read and assimilate prices while shopping. Their novel theory refutes the intuitive hypothesis made by previous research in consumer behavior that prices are read from left to right, and has implications for policy regulations, to prevent misleading consumers in their purchase decisions.
A CEO-Led Coalition Works with Researchers to Measure their Impact on Society
Camille Putois is the CEO of Business for Inclusive Growth (B4IG), a coalition of more than 40 global businesses, representing 4.4 million employees and a combined revenue of over 1 trillion USD. She discusses how this coalition strives for more inclusive practices and navigates the pros and cons of the different methods to measure progress on this crucial topic. For this, she worked with Leandro Nardi and Marieke Huysentruyt, researchers at the Inclusive Economy Center at HEC Paris.