ANCHOR CASE STUDY
Submitted by Pankaj Yadav MBA - B
TRAINING Training has been defined as " systematic development of knowledge , skills and attitude required by and individual to perform his her job.
Role of training I. Help in addressing employee weaknesses: Most workers have certain weaknesses in their workplace, which hinder them from giving the best services. Training assists in eliminating these weaknesses, by strengthening workers skills. A well organized development program helps employees gain similar skills and knowledge, thus bringing them all to a higher uniform level. This simply means that the whole workforce is reliable, so the company or organization doesn’t have to rely only on specific employees. II. Improvement in workers performance A properly trained employee becomes more informed about procedures for various tasks. The worker confidence is also boosted by training and development. This confidence comes from the fact that the employee is fully aware of his/her roles and responsibilities. It helps the worker carry out the duties in better way and even find new ideas to incorporate in the daily execution of duty. III. Consistency in duty performance A well organized training and development program gives the workers constant knowledge and experience. Consistency is very vital when it comes to an organization’s or company’s procedures and policies. This mostly includes administrative procedures and ethics during execution of duty. IV. Ensuring worker satisfaction Training and development makes the employee also feel satisfied with the role they play in the company or organization. This is driven by the great ability they gain to execute their duties. They feel they belong to the company or the organization that they work for and the only way to reward it is giving the best services they can. V. Increased productivity Through training and development the employee acquires all the knowledge and skills needed in their day to day tasks. Workers can perform at a faster rate and with efficiency thus increasing overall productivity of the company. They also gain new tactics of overcoming challenges when they face them. VI. Improved quality of services and products Employees gain standard methods to use in their tasks. They are also able to maintain uniformity in the output they give. This results with a company that gives satisfying services or goods.
VII. Reduced cost Training and development results with optimal utilization of resources in a company or organization. There is no wastage of resources, which may cause extra expenses. Accidents are also reduced during working. All the machines and resources are used economically, reducing expenditure. VIII. Reduction in supervision The moment they gain the necessary skills and knowledge, employees will become more confident . They will become self reliant and require only little guidance as they perform their tasks. The supervisor can depend on the employee’s decision to give quality output. This relieves supervisors the burden of constantly having to give directives on what should be done. Types of Training Programs Most businesses offer their employees some type of training. Managers know that the investment in employee training programs in a wide variety of areas is important to the bottom line, or profitability, of the business. In this lesson, we will take a look at how the implementation of several types of employee training programs is used as well as those programs' benefits aboard the Breezy Ocean cruise ship, including:
Literacy training
Interpersonal skills training
Technical training
Problem-solving training
Diversity or sensitivity training
ANCHOR CASE STUDY AIM: To formulate training programs of salespersons from both acquired company and the new recruits of Anchor toothpaste division and formulate a training process for overall growth of employees. QUALITIES TO BE POSSESSED BY SALESPERSON: 1. Ability to think from the customer's point of view 2. Understand and sell customer benefits not product features 3. Manage time and territory efficiently 4. Gain better information about customer needs by o Asking better questions o Listening more constructively 5. Increase personal problem solving ability 6. Regard themselves as customers' advisors, consultants and partners 7. Master the art of collaborative negotiation NEED ASSESSMENT: 1. Scrutinize new employees to notice points on which training is needed. 2. The kind of training needed by existing employees in the company. The existing employees acquired from toothpaste manufacturing facility must be scrutinized on the basis of previous sales reports: Weaknesses can be highlighted and uncovered. Uncovering areas where they lack expertise. 3. Training needs must be based on job specification of employees.
4. Employees can be divided into groups based on needs: new recruits and existing employees. TRAINING APPROACH: I.
New employees: Comprehensive long term training that includes initial or basic level training as well as advanced. They must be provided with: i. Product knowledge: how it is made, features and benefits, prices, features as compared to competitors. ii. Industry knowledge: history, goals and policies, vision of company, organizational structure, how compensation structure works,, what are expectations of company from them. iii. Market and market condition knowledge iv. How to communicate knowledge to qualified prospects. v. Present time with buyers and show perseverance to make number of attempts to win over the decision makers. vi. Non selling activities: customer services, sales inquiries and paperwork. vii. Attitude change: to alter existing beliefs. viii. Interpersonal skills: improved effectiveness with others. ix. Problem solving skills: improved objection handling and negotiations x. Selling approaches and strategies xi. Time management xii. Prioritising: what to prioritise and how
II.
Existing employees: Intensive short term training which includes periodic refreshment courses. They must be provided with: i. Brainstorming to stimulate creativity ii. Periodic refreshment courses iii. Developing coordination with new recruits of Anchor toothpaste iv. Management must convey the objective of training to them so they attend meetings regularly v. Stress on value addition to performance of sales person vi. Sales quota based actions for those who don’t attend meetings vii. Refreshing fundamentals, features, objection handling etc. viii. Updating them about changing products, competitors and environment change. ix. Remotivating to boost sales.
METHODS: 1. Lectures and demonstrations: using visual aids
2. Group discussions panels where real time participation of employees occurs 3. Role playing for practicing learned skills. Observers will also be benefited from this method. 4. On job training: new employees can spend a day or two listening to customer service calls where supervisor makes first few presentation calls and trainee can take one or two calls themselves. 5. Association of old and new employees 6. Tech support training manuals and documentation must be handy for new recruits 7. Simulations: by using made up situations where individuals or group competes. 8. Cases from buyers perspective 9. Round table discussions in lunch breaks 10. Brainstorming to stimulate creativity and new ideas in group atmospheres. TYPE OF TRAINING AND LOCATIONS: i. ii.
Company specialist training in a Central location Company specialist in training at Field Sales location: Benefits – Specialised training Keeps existing sales force on job Related training to real life situations Training regarding local markets
EVALUATION: Filling up of feedback forms by employees undergoing training, also telling about future needs of training and areas they want to work on.
REFERENCE STUDIES 1.) Sales Managers Programme of FMCG. Outline and objectives of the programme:
Overview of the role: Review of the three key drivers of the role in FMCG, strategy, tactical and operational. What is changing in the role, what are the key skill sets required for the role now and into the future?
Planning, structuring & organising your sales team. Have you enough salespeople, have you too many, putting a science behind working out the required amount of salespeople needed to deliver the company’s required call ratio and account coverage into existing accounts, centralised accounts , c-stores and new channels.
Recruiting Salespeople: Looking at the latest methods of recruiting sales people from van sales people, merchandisers, Territory managers, business developers into the FMCG industry through criteria based interviews, job profiling and bench marking against your best performing sales team members.
Current Team Analysis: Full team analysis of your direct team reporting into you, reviewing their behavioural traits, personality types and where you sit in relation to them. How best to manage each type at sales meetings and one on one sessions. (Max 10 people).If more than 10 people or required to be profiled this can be arranged.
Measuring the team’s performance: We show: what is not measured will not happen, how you can create a measurement system for centralised calls Supervalu, Tesco, Supervalu & C-stores. Implementing measurement for other key performance areas from tactical displays to calls per day to distribution drives, and promotional support. Reviewing an IT option and paper system. Setting sales targets and specific product target drives.
Team motivation: Reviewing the theory and how it relates to a modern FMCG team and business and how you can adapt it to your team. Reviewing the new sales roles in the industry, incentives and team employment conditions and pay across the sector. Tackling the senior team members who are long serving members and are finding the Industry changes difficult.
Sales Meetings: Running effective sales meetings which are fun, interesting, highly participative and motivating.
Kerb side coaching: Implementing a coaching plan for each team member when visiting them in the field. Using a unique system which will allow you to give really detailed feedback while spending a day or half day in the field which will help you to develop and strengthen your team’s skills in a positive way.
Dealing with other departments: Logistics, IT , Finance, HR, NAMS and in particular the Marketing department and how best to support them in their role while achieving the support that you require.
Regional key accounts: Putting in place account plans and ensuring that the team implements these plans.
Creating an annual field sales plan: Creating a document which can be presented to your business annually outlying the opportunities, total budgeting process for your team, account coverage plans, display achievement, tactical location stands, training plans, coaching plans and meetings planner for the year 2005.
Stress Management: Understanding stress and how it affects you, your colleagues and your team. We address how you can tackle it in the immediate, short and long term. This module is specifically designed for sales managers.
2.) JP MORGAN training program J.P. Morgan's training programs are distinguished by extensive business engagement. J.P. Morgan's professionals are actively involved in training design and instruction on a global basis. This means you will learn about the work we do from the people who actually do it. Since programs host Associates from around the globe together in New York, you will be able to build a global network of colleagues right from the start.
Global Investment Banking training program provides Associates who will move into investment banking coverage, capital markets, M&A, public finance, equity research, or credit risk management with the tools they need to succeed.
Global Markets training program provides Associates who will be in Sales and Trading, credit research, and market risk skills to enhance cross-asset and cross-product knowledge.
Global Private Bank training program provides Associates with advanced product knowledge and the client skills required for dealing with ultra-high-net-worth individuals.
BIBLIOGRAPHY http://www.mckernantraining.com/mckernantraining/Main/TrainingSalesProgrammes-FMCG.htm http://study.com/academy/lesson/types-of-employee-trainingprograms.html http://careers.jpmorgan.com/student/jpmorgan/careers/us/programs /ftgrad/ib www.google.com