All posts in Incentives

5 personalized incentives for employees that make sales pop

Team-focused or individual performance-focused, sales managers who offer personalized incentives for employees will see their sales numbers pop.

Personalized rewards can be as simple as “a job well done” remark or as costly as the redesign of a competitor’s home kitchen. Knowing how to develop sales contest rewards – like these 5 personalized incentives for employees that make sales pop – is a management skill and talent.

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Individual Incentive Plans: pros and cons of rewarding the individual win

A reward is a prize given for sales achievement. A sales incentive is something that drives performance towards achievement. In a sales department, we wrestle with the strategy of offering incentives on a team or individual basis. In previous articles, we examined the positive and negatives surrounding sales strategies that recognize the sales team win; here, we want to weigh the pros and cons of individual incentive plans.

Advantage to Individual Incentive plans

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Individual vs team incentives: 12 pros and cons of rewarding the team win

When sports teams win, they exchange chest bumps, high-fives, and pats on the back. They strut before the crowds and pour the champagne. Wins are greeted with less fanfare in the sales office, but sales team members relish some of the same victory dance. Focusing your sales incentive plans on teamwork has advantages and disadvantages worth considering.

Read our analysis about individual vs team incentives, 12 pros and cons:

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Sales Incentive Ideas that work

Without the consistent and motivational support of sales incentive plans, sales is a very tough career. The sales incentive plans with some element of fun keep that performance push from being a negative pressure. Here are 10 sales incentive ideas that work.

Any sales incentive plan should have an element of gamification. People expect it nowadays. Fun drives more things than you know; fundraising, school performance, online training, and more. Your sales incentive plan hits its target bull’s-eye when the sales incentive ideas are fun to participate it.

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Gamification: cheating and gaming – how keep sales contests clean

Gamification? Good! Gaming the system? Bad! Human nature devalues your sales contest by cheating and gaming the system. You owe it to the business and the contestants to structure sales contest to discourage or eliminate cheating. The business owner or sales leadership needs to learn why people cheat, how big prizes drive bad behavior, and what you can do to minimize or eliminate gaming the sales contest gamification system.

Cheating will always be with us.

There is cheating, and there is gaming. The only real difference is degree. Cheating is a blatant violation of business ethics and, in some cases, the law and moral conscience. Gaming abuses exploits system loopholes, fudges the rules, or misdirects sleight-of-hand. Studies show people will do what they have to in order to get ahead; some do so at any cost.

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Sales reps compensation plans: minimize errors in bonus calculations

Well-conceived sales compensation plan create strong sales contest incentives. If you expect your sales compensation plans to motivate sales performance, it takes planning and communication.

When sales compensation plans are commission-based, it takes even more clarity to produce sales performance results. And, while the language may be important, accuracy in sales reps bonus calculations is essential to success and reduced employee turnover.

Ideally, sales compensation plans wed sales performance and financial rewards. It does so by placing a segment of pay at risk until a sales objective is accomplished. Ideally, it directs the focus of individual and team sales performance to achieving individual, team, and organization goals.

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10 BEST Sales Contest Prizes Ideas

Sales management leaders know that competition will improve sales performance. Sales workers are outgoing and gregarious. They are naturally competitive and enjoy a challenge. However, only outstanding sales contest prizes keep them fully engaged and motivated towards long-term sales performance improvement. Read about 10 BEST Sales Contest Prizes Ideas

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Rewards and recognition programs: The differences matter

Any good sales manager knows that employee rewards and recognition programs gives positive attitude and increases chance to meet company sales goals.

The idea that sales teams need to be rewarded for their efforts is not a new one.

However, sales leaders often use these two concepts synonymously. In order to reap the maximum benefit from your incentives, knowing the difference is crucial.

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Intrinsic and extrinsic motivation – nature of rewards

Intrinsic and extrinsic motivation – nature of employee engagement and motivation.

When it comes to understanding the difference between rewards that motivate people, it helps to understand which ones have a longer, lasting effect versus those that are momentary and only work like a bit of a flash in the pan. Unfortunately, there’s no general standard that works all the time. People are different from each other and their motivation drives them differently as well. There will be groups that respond to the same motivation, but no particular reward will capture everyone 100 percent. So it’s a smart idea to understand how to work with a portfolio of motivations to move and lead employees to better productivity.

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Sales Incentive Compensation management best practices

Incentives are a fantastic way to get your employees excited about improving their performance. Using proper sales incentive compensation management you can increase your sales revenue and employee engagement.

Sales contests are a wonderful way to measure the overall performance of your employees, motivate your staff members and increase the company’s revenue. Studies have shown that satisfied employees tend to work harder and get more done. Sales incentives are a way to show employees that they are respected and that their efforts have been noticed by upper management. When choosing between sales performance management and sales incentive compensation, many companies may find that a blend of both tactics is beneficial.

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