Independents

Squirrel Spotting: What Kind of Team Do You Want?

IndependentsJul 31, 2018

Squirrel Spotting: What Kind of Team Do You Want?

Your first answer might be, “the same team I’ve had for years,” but that is not necessarily the best answer, Peter Smith writes.

2016-Peter_Smith_copy_copy.jpg
Peter Smith has more than 30 years of experience building wholesale and retail sales teams. He currently is president of Vibhor Gems.

To suggest that people are important to a business is akin to recommending a daily dose of fresh air for good health. While it may be a self-evident maxim, what actually constitutes “good people” is decidedly more complex.

Every business, of course, must decide how to best put together its team.

Some prefer harmony and an ease of management that excludes mavericks and outliers. Other businesses prize a performance culture that values individual productivity, and recognizes and accepts the inevitable challenges of managing top performers.

When I ask retailers to tell me about their team, I very often hear, “My people have been with me for years,” as though tenure itself was the secret to success.

I’ve often wondered how successful my beloved Chicago Cubs would be if Andre Dawson was still hitting clean-up at Wrigley Field, or how the San Francisco 49ers would fare if Joe Montana was under center.

OK, OK, I know that sports teams, where athletes must have a great mental approach along with world-class physical prowess, is not the same as sales, but I use sports (insert your own metaphor) to point out that tenure alone cannot be the measure of the competence of an individual, or the health of a team.

In fact, Gallup researchers conducted an analysis a few years ago of 1.4 million employees in its database and found an inverse relationship between employee engagement and the number of years she or he had worked in the job.

The study basically asserted that for most employees, the first year was their best year and thereafter it was, if not exactly downhill, a flat and uninspiring walk into sustained mediocrity. The conclusions from the study revealed that disengaged employees were a drain on profits, sales and customer satisfaction.

Angela Duckworth, a psychologist at the University of Pennsylvania and the author of “Grit: The Power of Passion and Perseverance,” wrote: “Do you know anyone who’s been doing something for a long, long time—maybe their entire professional lives—and yet, the best you can say of their skill is that they’re pretty much OK and not bad enough to fire?”

There is clearly a very big difference between your top performers staying with you for years and your mediocre people sticking around—not exactly setting the world on fire, but managing to keep their heads above water.

As I see it, there are really

three ways a business can go:

1) You can value tenure and accept that you are willing to give up performance for the sake of familiar people sticking around;

2) You can prize sales performance and, in doing so, understand that non-performers will be rotated out as results demand; or

3) The default option: You celebrate and value tenure, and choose not to spend too much time thinking about the costs to your business in sales and profitability.  

In “Reward Systems,” Steve Kerr (not the basketball one) wrote, “If you reward seniority, you are likely to get very little in the way of risk-taking, innovation and candid, upward feedback.”

Each business, of course, much make its own decision (or no decision) and while I would still pay to see Andre Dawson take a few swings in a Cubs uniform at Wrigley Field, I’ll take Anthony Rizzo. Until I don’t.

Go Cubs!

Peter Smith is president of Vibhor, a public speaker and author of “Sell Something” and “Hiring Squirrels.” He spent 30 years building sales teams in retail and wholesale and he can be contacted at dublinsmith@yahoo.com, peter@vibhorgems.com, or on LinkedIn, Facebook or Twitter.
Peter Smithis an industry consultant, speaker, and sales trainer, and author of 3 books on sales. Reach him at TheRetailSmiths@gmail.com.

The Latest

Diamonds Direct Atlanta store
MajorsJul 26, 2024
Diamonds Direct Opens Store in Atlanta

It’s the Signet-owned banner’s first location in Georgia.

Bea Bongiasca’s Double Loop Earrings
TrendsJul 26, 2024
Piece of the Week: Bea Bongiasca’s ‘Double Loop’ Earrings

Commemorate “brat summer” with these green hoops.

Stock image of Providence, Rhode Island, skyline
EditorsJul 26, 2024
Out & About: A Dispatch from the Nation’s Smallest State

Editor-in-Chief Michelle Graff returns from Rhode Island with thoughts about in-store shopping and a trends report.

Untitled design.jpg
Brought to you by
The End of an Era? Lab-Grown Diamonds' Journey Towards Price Stability

As the demand for lab-grown diamond jewelry may still be increasing, the most notable change we are likely to see is price stabilization.

Supplier BulletinJul 25, 2024
Meet Gemology’s Next Generation Microscope: GIA® Gemolite® NXT Professional Edition

Sponsored by Gemological Institute of America

Weekly QuizJul 25, 2024
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Amazon package outside door
TechnologyJul 25, 2024
Amazon, BBB Sue Website Allegedly Peddling Fake Reviews

They claim ReviewServiceUSA.com was selling both positive and negative reviews of products and businesses.

De Beers’ Venetia diamond mine
SourcingJul 25, 2024
De Beers’ H1 Revenue Falls 21% in ‘Weak’ Market

Lab-grown diamond sales in the United States and ongoing economic challenges in China are impacting natural diamond demand.

1872 x 1052 Gemolite.jpg
Brought to you by
Meet Gemology’s Next Generation Microscope: GIA® Gemolite® NXT Professional Edition

GIA®’s most advanced microscope has new features to optimize greater precision and comfort.

Pomellato Malachite Pom Pom Dot bracelet
FinancialsJul 25, 2024
Boucheron, Pomellato Post Double-Digit Growth in Q2

The gains come amid a tough time for parent company Kering, which saw sales slide 11 percent in the first half of the year.

Shane Co. and the Kids in Need foundation logo
MajorsJul 25, 2024
Shane Co. Partners With Kids In Need Foundation to Donate 7,200 Backpacks

The fine jewelry retailer filled backpacks with back-to-school essentials for students in 13 states.

Bulgari high jewelry campaign
FinancialsJul 24, 2024
LVMH’s First-Half Jewelry, Watch Sales Dip 5%

Tiffany & Co. is focusing on its “iconic” collections while the company has made changes at the top at TAG Heuer and Hublot.

Chaumet Paris 2024 Olympics medals
MajorsJul 24, 2024
See Chaumet’s Paris Olympic Medals Inspired by its High Jewelry

The Parisian brand is the first jewelry company in the history of the Olympic and Paralympic Games to design the medals.

Jewelers Mutual and Union Life and Casualty logos
MajorsJul 24, 2024
Jewelers Mutual Acquires Pawnbroker Insurance Provider

Union Life & Casualty will join JM Insurance Agency Partners, expanding the provider’s pawnbroker coverage.

Bradlei Smith
MajorsJul 24, 2024
Ben Bridge Announces 2024 Lonia Tate Scholarship Winner

Los Angeles-based Bradlei Smith was selected for this year’s award.

National Jeweler columnist Peter Smith
ColumnistsJul 23, 2024
Peter Smith: The Case for Optimism in Sales

In his latest column, Smith shares multiple reasons why people who look at the glass as being hall full often make better salespeople.

De Beers rough diamond display
SourcingJul 23, 2024
De Beers’ Production Drops 15% in Q2

The company also reported the $150 million sale of an iron ore royalty right, part of its ongoing effort to divest “non-core” assets.

Sophia Moreno-Bunge of Isa Isa modeling Guzema’s Hidden Beauty collection
CollectionsJul 23, 2024
Guzema Debuts ‘Flower Power’ Campaign

The ad features three celebrity florists creating floral sculptures while wearing jewelry by Guzema.

Tresia Shituula, Monkgogi Moshaga, Mohamed Samu
Policies & IssuesJul 23, 2024
Diamonds Do Good Announces Its 2024 Entrepreneurship Grant Winners

The grant provided a total of $100,000 to support 13 entrepreneurs from diamond communities in Africa and India.

Ghazi “Gus” Michel Osta
CrimeJul 22, 2024
Florida Jeweler Shot, Killed Following Argument With Customer

Ghazi Michel Osta, or “Gus,” was killed Friday by an 83-year-old man said to be a frequent customer at his store, Volusia Gold & Diamond.

Elyssa Jenkins-Perez and Effie Marinos
Policies & IssuesJul 22, 2024
JVC’s Elyssa Jenkins-Pérez Joins RJC

The organization also announced Effie Marinos as its new specialist advisor for technical standards, as well as four other appointments.

Karen Rentmeesters
SourcingJul 22, 2024
AWDC Names Karen Rentmeesters as CEO

Rentmeesters has served as interim CEO since April following former CEO Ari Epstein’s resignation.

Brian and Jessie Mann
IndependentsJul 19, 2024
Longtime D.C. Jeweler Brian Mann Dies at 70

Mann, whose family’s jewelry store was located inside the Pentagon, is remembered for being a thoughtful champion of the industry.

Tudor store in Denver
IndependentsJul 19, 2024
The 1916 Company Opens New Tudor Boutique

The 500-square-foot boutique is located in Denver’s Cherry Creek Shopping Center.

Messika’s So Move Max Necklace
CollectionsJul 19, 2024
Piece of the Week: Messika’s ‘So Move Max’ Necklace

Dance all night long with the “So Move Max” set’s necklace.

Julien Tornare and Antoine Pin
WatchesJul 18, 2024
TAG Heuer, Hublot Will Have New CEOs

Luxury giant LVMH is reshuffling the leadership in its watches division.

Etsy billboard rendering in NYC
MajorsJul 18, 2024
New Etsy Campaign Prioritizes Creators Amid Backlash

Sellers and shoppers have spoken out against a rise in mass-produced merchandise on the platform meant to highlight handmade goods.

Ariana Grande Modeling in Swarovski Jewelry
MajorsJul 18, 2024
Swarovski Names Ariana Grande as Its New Brand Ambassador

The celebrity will star in Swarovski’s holiday campaign.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy