Compensation plans for the sales people
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Based on the attached chart please address the following in 500 or more words. Compensation plans for the sales people ONLY not marketing people.
Compensation plans for sales personnel. How can sales personnel be compensated so that they are motivated within each of the areas by both monetary and non-monetary means? How can sales managers control the sales staff through compensation methods?
Please provide references/links (prefer U.S. internet articles ONLY) so that I could refer to the articles.
I really appreciate your help and thank you.
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Compensation plans for sales personnel. How can sales personnel be compensated so that they are motivated within each of the areas by both monetary and non-monetary means? How can sales managers control the sales staff through compensation methods?
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Recognition for the job well done is the top motivator of employee performance. For the recognition to be effective and positively influence person's performance it must meet the following criteria: Reward must match to the person, reward must match the achievement and reward must be timely and specific. "All in all, recognizing successful sales-people may be the single most critical way to boost sales results" Sales personnel can be motivated through compensation that can be either monetary or non-monetary:
Monetary Compensation:
? Sales Commission for Existing Clients
? Sales Commission for New Clients - in order to increase its client base, a higher commission is to be paid for sales to new clients (few percent higher than the sales commission for Existing Clients)
? Sales Blits contests - weekly/monthly campaign focusing on maximizing sales, where all qualified sales people are entered into a draw for cash prizes
? Stock/Ownership for ...
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