5 Things That Will Keep Your Team Satisfied Without Paying Them More
Money isn’t the only motivator.
Tag: Compensation
Sales Bonuses Are Supposed to Motivate, So Don’t Waste Them on Easy Targets
Most companies pay salespeople a combination of a salary, a commission, and a bonus for hitting a quota, putting a portion of their pay at risk. The belief is that at-risk pay motivates salespeople to work hard and direct effort towards sales activities that encourage achievement of sales goals.
Your Quota and Your Real Goals
Your quota is the number that your company assigned to you. It’s your revenue goal or, in some cases, it might be a goal assigned to profit. Your number is what your company needs from you, and they have attached a certain commission or bonus to that goal. Your company wants you to max out your compensation, but your number has a certain income attached to it.
How Do You Measure Sales Management?
In some ways, the sales force is the most measured function in any company. All salespeople have a number (a quota) assigned to them, and progress toward that number is tracked maniacally. However, anyone who has ever tried to measure the ability of a sales team knows that this number is insufficient to determine whether a seller is actually good or bad at their job. But if you really want a challenge, try to measure the performance of the salesperson’s boss—the frontline sales manager.
7 New Trends Top Companies Use to Separate Performance from Compensation
Whether you place emphasis on teamwork or individual performance, it’s essential to research which method will work best for you.
Why Sales Commissions Don’t Work (in the Long Run)
Republished from INC, August 12, 2014
By Aaron Skonnard
Think about salespeople and you think of stereotypes: people who are motivated only by money; risk takers who thrive on the adrenaline of a potential massive payoff; territorial lone wolves who aren’t team players; nine-to-fivers who are inherently lazy and will only work hard if incentivized with a big carrot.