The US Bureau of Labor Statistics reports that the average turnover rate in the United States is 4.5% per month. That breaks down to 3.5% in voluntary and 1% involuntary turnover. We are seeing about 10,000 promotions or external new hires per day. Below are seven reasons you should monitor job change alerts.
- New Opportunities: When a contact moves to a new company or position, it can open up new sales opportunities. The contact might be in a decision-making role at the new company, presenting an opportunity to pitch your product or service.
- Relationship Leverage: Existing relationships can be leveraged when a contact changes jobs. A strong relationship with the contact can help in gaining trust and access to the new organization, potentially leading to new business deals.
- Targeted Outreach: Job change notifications allow sales teams to tailor their outreach. Congratulating a contact on their new position and offering relevant solutions can create a positive impression and demonstrate attentiveness.
- Competitive Intelligence: Understanding where key contacts are moving can provide insights into industry trends and competitive movements. This information can help in adjusting sales strategies and staying ahead of competitors.
- Retention and Expansion: For existing customers, knowing when a key contact leaves can help in managing the account better. It enables the sales team to build relationships with the new contact and maintain the business relationship.
- Customer Success: If a key contact who was an advocate of your product or service moves to a new company, they might promote your solutions in their new role, leading to cross-company adoption and expansion.
- Pipeline Management: Job changes can impact ongoing deals. Being aware of these changes helps in re-evaluating the sales pipeline and adjusting strategies to avoid disruptions and ensure continued progress.
You can sign up for New Hire Alerts via RampedUp.