Is there a mental health crisis in sales?

Published: Wed, 02/16/22

February 16, 2022

Good morning. It’s the Wednesday after the Super Bowl, the day when people will finally start responding to their backlog of calls and emails (fingers crossed). In the meantime, enjoy this week’s edition of The Quota, where we’ll talk about the hidden mental health crisis in sales, find out how many reps have been cursed at by a prospect before, and help a seller who thinks he might be wasting his time (and money) on a customer. Oh, and by the way, if you’re looking to switch roles or to find some new talent, our website has a crispy new jobs board that’s ready to go – you can check it out here. Let’s get into it.

NUMBER OF THE WEEK

132,000

The median OTE (on-target earnings) of a B2B Account Executive.

Source: The Bridge Group

SALES ROUNDUP

Here’s what’s happening in the sales world this week:

A recent article in the Washington Post covered the state of the automotive market, where car dealerships continue to raise prices, while automakers push back, and consumers are left footing the bill. The article includes this stunning statistic: more than 80 percent of U.S. car buyers paid above MSRP in January. Some manufacturers, like Ford and GM, are against these markups, and in some cases, are threatening to withhold deliveries of popular models if dealerships don’t stick to MSRP. But their pleas appear to be falling on deaf ears, as the markups are pervasive across the industry. You can read the entire article here.
One of the most aggressive product sales initiatives in history is quickly moving online, according to a recent feature from NPR member station KQED. The hard-charging door-to-door sales girls of the Girl Scouts of America are increasingly incorporating digital tools into their sales process, much the same way as the rest of the workforce, using “virtual cookie booths,” video and email marketing, and a personal “cookie link” to share on social media. Sales of Girl Scout cookies top $800 million each year (!!) – exceeding Oreos and Chips Ahoy (during this time of year). You can read the rest of the article here.

FEATURE

Is there a mental health crisis in sales?

There’s been no shortage of articles that discuss the ways in which the pandemic and subsequent restrictions have affected people’s mental health. Salespeople are no exception, and given the stress and demands of the role, it would come as no surprise to learn that a large percentage of salespeople have struggled with mental health issues over the last several years.

In a recent LinkedIn poll, sixty-four percent of respondents said that working in sales has affected their mental health. Another seventeen percent said that it has ‘somewhat’ affected their mental health. And only eighteen percent said that working in sales has not had any effect on their mental health. These are high numbers, and they’re not the only ones that point to a serious mental health problem in the sales profession.

According to a recent survey, nearly 25% of salespeople in the UK were diagnosed with depression or generalized anxiety disorder in 2021. The survey was conducted by Raiys, a UK-based business coaching organization. Raiys, which is made up of both mental health professionals and business coaches, aims to mitigate stigma around mental health in the workplace and give workers at all levels in all roles the tools to succeed while staying healthy mentally.

Many of those surveyed said that their deteriorated mental state was due in part to lack of compassion from management. Downsizing, delays, and lack of funds are also contributing to increased pressures on sales teams: the survey states that 73% of salespeople are considering quitting as a direct result of mental health problems. One such person is Tara, who recently graduated from university. She couldn’t take the stress at work, so, this year, she quit her job in sales.

“The [survey] results come as no surprise to me,” she told Raiys. “The culture of working in sales and constantly needing to hit new targets creates a lot of stress for everyone involved, and this is what caused me to leave my position. I firmly believe there is a stigma attached to the topic of mental health in all walks of life but especially in sales; no one discussed it in my previous role. In order for things to improve we need to see changes at the very top, as those lower down need to feel comfortable talking to their managers about these topics.”

The survey also revealed that salespeople were three and a half times more likely to take time off for mental health than people in other positions. “We wanted to conduct the survey to emphasize the stress and pressure many in the industry face with little-to-no support,” said Matthew Shaw, managing director of Raiys, in a press release. “Businesses are entitled to take their own stance on whether or not they have a responsibility to look after an employee’s wellbeing; however, few would argue that if the nature of the job is known to be the cause of an individual’s deteriorating mental health, those businesses have a fundamental duty of care to their teams.

While there’s no simple solution to the mental health problem, with numbers like these, there’s no doubt that it’s an issue that needs to be addressed. Companies must take their employee’s mental health seriously, if not out of compassion, then simply for their own bottom line. Turnover in the profession is at record highs, and it’s very likely that mental health plays a significant role in sales reps' willingness to leave. Employers must take the well-being of their sales teams seriously, otherwise they’ll get left behind, in more ways than one.

MEME OF THE WEEK

Source: Instagram -- Sales Humor

QUIZ

Which of the following actors once worked as a telemarketer selling pens?

A. Ray Liotta
B. Michael Fassbender
C. Robert DeNiro
D. Johnny Depp

SALES FAILS

Each week, we bring you the most cringe-worthy sales moments from across the web. To submit your sales fail story for consideration, click here. (Don't worry, you'll remain completely anonymous).

"'I have to tell you something. I don't usually lie to clients like this.’ That was me to my manager a few months after starting in sales at a locally owned radio group.

I was starting to get the hang of things, and the ability to walk into a business and introduce myself was becoming easier and easier. We had a remote broadcast at our local outdoor mall, and after we had packed up, I decided to stop in at the not-yet-open fast casual Mexican restaurant that was based out of Iowa. This was the first franchise in our area, and I had been to a location in Iowa before, so I felt comfortable going in to start building the relationship. I was talking to the owner, and he was friendly and open to talking about advertising with us.

Here's the part that I'm still embarrassed about: for some reason, when the owner said they were based out of Iowa, I blurted out, "Well, I'm from Iowa too!!" This, in fact, was not true. I had meant to say that my partner was from Iowa, and that I was there quite a bit. But before I could correct my mistake, the owner turned and yelled out to everyone in the restaurant, "This guy is from Iowa!!!" which was met with loud cheers and high fives, like I was in a John Hughes film.

When I returned to the station, I had a solid meeting set with the owner, and an explanation to my sales manager about how I had lied to the client. She knows I would never lie to get a sale, but she will never let me live it down. According to her, I am indeed from Iowa, and forever will be.”

Anonymous, 30 Peoria, IL

GRAPH OF THE WEEK

Source: Instagram Poll -- February 2022

ASK THE QUOTA

Want to submit a question and be featured in our advice column? Click here. (Don't worry, you'll remain completely anonymous).

Dear Quota Team,

I’ve been in sales for several years, but only recently got into selling big ticket items. I went from car sales to being a manufacturer rep for a heavy equipment distributor, and have an assigned territory that I took over from a guy who retired.

I’ve closed a few deals so far. Nothing huge, but enough to get my feet wet and give management the confidence that I can get the job done. I believe in myself and after working in car sales for almost two years, it feels good to be treated better by customers and by my employer.

Here’s what I’m wondering about. I have a potentially huge deal in the works. It would mean a six-figure commission (just from this one deal). I know how important it is, so I’ve gone above and beyond to make this customer happy. I’ve taken him to steak dinners, brought him donuts and coffee every time we’ve had a meeting, and even convinced my boss, who is pretty tight with cash, to pay for Suns tickets. But he keeps pushing his buying timeline further and further out, and gets vague whenever I try to pin him down on hard dates and commitments.

My question is this: when should I give up and let it go? I know what it’s like to get strung along by someone, but in car sales it’s a bit different, because there’s always another customer right around the corner, whereas in this business, there aren’t as many potential customers, especially ones that can make your whole year in one pop. When do I just call it a day? Appreciate any advice you might have.

Confused in Arizona

Dear Confused

We actually happen to be in the market for some heavy equipment… and we really like steak dinners. Let’s meet up at Ruth’s Chris to discuss!

All kidding aside, the situation you’re facing isn’t unusual. Sales reps are constantly afraid of losing out on big, seemingly once-in-a-lifetime deals, so much so that they might ignore all the other opportunities that come and go.

There’s even a scientific term for it: loss aversion. It’s the tendency to prefer avoiding losses to acquiring equivalent gains. Some studies have even suggested that losses are twice as powerful, psychologically, as equivalent gains.

As to your question, the fact that this prospect is vague when you try to pin him down isn’t a great sign, but it doesn’t mean that the deal can’t or won’t happen. But if he knows that every time you show up, you’re bringing delicious steaks or fresh donuts or NBA tickets, then he’s definitely going to agree to as many meetings as you want.

Here’s what we would do: ask him point blank whether he’s ready to sign a purchase order or put down a deposit. Don’t let him squirm out of it. If the answer is no, you should stop giving him freebies and focus on looking for new business (which you should have been doing all along, by the way), and check in with him once a week -- a phone call should be fine.

You’ve already gone above and beyond to endear yourself to this person and to build rapport. If he’s a buyer, then he needs to buy. Otherwise, he’s just in it for the ribeye.

Quiz Answer: D

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Today's email was written by Ken Kupchik, Erica Furgiuele, Steve Rado, and Emily Hill.

Got a tip or an idea for something you'd like us to cover? Send us a message at [email protected]

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