Marlin Business Services Corp.® is a US provider of commercial financing and depository products, specializing in innovative financial solutions for small and mid-size businesses. After the financial crisis of the 2010’s, all eyes were on Marlin sales to grow very rapidly. To begin, they needed to hire 60-70 sales reps in a very short period of time, bringing Marlin’s head count to 80 sales representatives. However, over the next year, close to half of those people left or were released.
Their inside sales role, which requires being inside at their desks making 70 calls every day, is not the easiest job. And the turnover rate was alarming. In order to meet their sales goals and business objectives, the executive team at Marlin Leasing knew they needed to drastically reduce their turnover and improve productivity. Marlin Leasing determined it was time to re-evaluate how they went about finding—and keeping—talent.
Marlin Leasing brought in PSI to determine the personality profile of a successful Marlin Leasing sales representative. Marlin Leasing took its top 15 employees and put them through the Caliper Profile assessment.
From there, they pulled aggregate results to determine what a top Marlin sales representative looks like. That gave the organization a blueprint for success in their sales roles.
The organization also took a fresh look at how their salespeople were being trained and realized that they needed to invest more in their employees. They started “The Marlin Academy, “a six-week intensive training program where participants learn all the skills needed for Marlin Leasing’s business. Only those people who possess the requisite raw skills, as determined by the Caliper Profile results, are admitted to the Marlin Academy. The training is industry and company specific while also teaching generic sales lessons.
In addition to identifying who has the right qualities and skills to succeed in Marlin Leasing’s culture, the information the Caliper Profile provided is used for ongoing employee coaching and development.
The Caliper Profile helped me determine what a Marlin top sales rep looks like, and since we began hiring from that model, our turnover has dropped from nearly 50% to 16%.
During the time Marlin Leasing began using the Caliper Profile, the company hired 62 people and only lost 10, which factors out to be 84% retention.
Additionally, Marlin Leasing:
- Reduced turnover to better than the industry average
- Increased productivity to the highest it’s ever been
- Decreased the cost of sales
- Increased profits for the company
- Created a predictable hiring model with a proven track record of return