The Big Talent Drain
I have been screaming it from the mountaintops for more than a decade now: “When you pay peanuts, you get monkeys.” Now it seems the so-called industry press is finally catching up with me. I have read several recent articles talking about the ongoing talent drain in the retail automobile business. Qualified leaders are becoming incredibly hard to find, particularly for the general manager and general sales manager roles.
These days, a GM with any kind of track record can demand stupid money to make a move. Some dealers are putting off buy-sell agreements and postponing acquisitions until they can find a qualified operator. You have to offer a substantial guarantee and a buy-in just to get them to talk to you.
You family-owned dealers need to get busy, have more kids, and send them all to dealer school. … Oh, never mind, I forgot. There’s also a real shortage of qualified instructors. (“I used to be a dealer” doesn’t guarantee good credentials.) So there’s a brain drain to go along with the talent drain, and nobody knows how to plug them.
Read the whole article here on AutoDealerMonthly.