In this episode of the David Spisak show, David discusses a critical yet often overlooked aspect of success in the automotive retail industry: attracting and retaining top talent. David is joined by Morgan Prestwood, CFO of RockEd, a company that provides micro-learning solutions specifically designed for the automotive industry.
The conversation dives into the age-old problem of dealership spending heavily on marketing to acquire new customers, while neglecting the development of existing employees. This approach, they argue, leads to a revolving door of talent and hinders long-term success.
Here are some key takeaways from the episode:
- The industry standard for annual car sales per salesperson hasn’t changed in 30 years. This stagnation is a clear indicator that dealerships are not investing in the development of their salesforce.
- Employees leave managers, not companies. Promoting salespeople to management positions without proper leadership training creates a vicious cycle of frustration and inefficiency.
- Traditional training methods are outdated. Today’s workforce consumes information differently, and short, digestible content delivered in a way that is easily accessible is key.
- RockEd’s micro-learning platform provides a solution. This app offers daily, 5-10 minute video lessons designed to equip employees with the skills they need to succeed.
- Investing in people is an investment in the future of your dealership. When employees feel valued and are given the opportunity to develop their skills, they are more likely to stay and contribute to the overall success of the dealership.
Tune in to discover the keys to unlocking unparalleled success in talent retention, only on the David Spisak Show.
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