Red Ventures ends sales training program, with dozens of young workers impacted

Red Ventures CEO Ric Elias

Red Ventures CEO Ric Elias talks during a recent interview.
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Red Ventures CEO Ric Elias talks during a recent interview.

Red Ventures has decided to end a sales training program that it launched this year, a move that affects 67 young workers.

The fast-growing Internet marketing firm just south of the state line started the two-year Sales Associate Program in January as a way to reduce turnover in its sales department, as well as groom recent college graduates for careers in sales, leadership, digital marketing and technology, according to a job posting from March.

The company recruited from four-year colleges and universities, and promised “insane perks” and professional development.

The company said it ended the program on Wednesday because it was not able to achieve its sales goals.

At its peak, the program had 95 participants. Red Ventures said those affected have the option of transferring to another role within the sales department, or accepting a severance package. The company did not provide a breakdown of how many are opting to stay.

During the program, Red Ventures offered participants time throughout their day for personal development, during which they could job shadow in other departments within the company, or network with other employees.

Started in 2000, Red Ventures has been growing rapidly over the years, fueled in large part by its recent acquisitions of companies like the personal finance website Bankrate. The company employs about 3,700 globally.

Red Ventures has offices in Indian Land that employ about 2,000 people and boast a number of amenities to appeal to millennials, including basketball courts, a bowling alley and a beer garden. Red Ventures’ sales department employs about 750.