Any company which has employees that are purely focused on selling, must be offered a well thought out and smartly structured sales comp plan. To tie in with this and to help businesses to achieve a good plan, business and sales experthas written a fantastic blog post detailing how companies can support their staff and increase their sales, based on a well thought out and tight fitting sales comp plan.
This is such an important aspect of any sales business and here is exactly why you should focus on it so heavily. Josh has detailed how to do it, and here is exactly why you should do it.
Inspire, Incentivize and Motivate Your Team
There is one main reason why a percentage commission is offered by the company is so that staff feel more motivated to turn up for work, more incentivized to sell hard and more inspired to deliver on those sales. This is a great opportunity for employees to really deliver high levels of sales and in doing so they will be able to earn themselves more money than their current salary could possibly offer them. It is always a good idea to ensure that your team is motivated, and this is the perfect way to do just that.
Bringing In More Revenue
The core of this kind of payment system is that you will be able to bring in more by way of sales and revenue than you could do if you do not incentivize the staff. This is the ultimate way t drive your staff to make more money for themselves and in return they will be making more money for the business. When it comes to sales we have to ensure that we are really looking for our staff to perform as this makes the business more money, and of course giving the staff more money to do so is the best way to make this happen.
When you incentivize your employees in this way you will not only be seeking to dangle the cash in front of them, you will also be stoking some healthy competition between the employees. This is because if there is someone who is making much more money than someone else because of the way that they are selling, there will be others who are going to be prepared to put the work in so that they can make those big bucks too. This is a healthy situation to create and it is one which will no doubt be the best way for you to create a good quality and productive work environment for all involved. This is certainly one of the best ways for you to bring about that level of competition which will help everyone in the business in the long run.
These are just some of the reasons why Josh discusses the importance of getting this right, and getting it right first time.