February revenue attainment dropped to 49%, down 17% from January. This was mainly due to tough market conditions, longer sales cycles, and increased churn.

But it’s not all doom and gloom. Some companies found their stride by cutting waste, focusing on Profitable Efficient Growth (PEG), and sharpening their pipeline management, which helped them meet or even surpass their February targets.

Some good news - quota attainment has increased month-over-month in 2024, with 44.4% of reps hitting quota in March, compared to 41.5% in January. Reps selling deals in the $50k - $100k range have the most difficulty hitting quota.

On the employment side, the picture is mixed. While nearly 70% of executives are on the lookout for new hires, February saw a 20% layoff rate, slightly up from January. Sales and marketing roles bore the brunt of these cuts, highlighting the volatility of these positions. With one in four executives bracing for layoffs this year, many anticipate a challenging road ahead in April and June.