Rewarding the Right Behaviors
Sales people are highly sensitive to their compensation and incentive plans.
Creating a plan that drives them toward company goals, profitability and customer relations is a critical piece of any sales system. There are a number of approaches and philosophies when it comes to pay. It is critical that your compensation and incentive plans are aligned with your overall strategy.
Compensation alone is not the only driving factor for sales reps. Rewards can come in the form of personal or public recognition, contests, or just personal one-on-one discussions. The sales leader's role is to find the right combination of rewards (monetary and non-monetary) to drive the desired behaviors.
Are you experiencing any of the following symptoms/issues?
- Plans that are “gamed” by the field leading to the wrong behaviors
- Using compensation as a management tool rather than a reward system
- Unmotivated employees
- Underestimating the value of non-compensation recognition and rewards
- Reps wasting time re-calculating commission rather than selling
- Losing people to competition for more pay or because reps feel unappreciated
- New reps feel treated unfairly because they are put on the same plan as existing reps
Pivotal Advisors can help you:
- Develop and model an affordable compensation strategy
- Balance salary and incentives
- Deal with new hires, reward systems, and ramp up periods
- Develop non-compensation recognition and rewards
- Communicate changes to the plan
- Use technology to report and motivate