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    What Type of Incentive Program to Retain Sales Representatives

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    My company is struggling to retain its sales representatives. It seems the employees go through the company's training program, work for the organization for about 6 months and then leave to work for your company's top competitor.

    Exit interviews are being held with the sales representatives and it has been determined that they are leaving because they don't feel they are financially rewarded for their efforts.

    Project:

    With this in mind, what type of incentive program would you recommend for these sales employees?

    What rationale do you have for your approach?

    Important: Be sure to utilize and cite research to support your response.

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    https://brainmass.com/business/human-resources-management/type-incentive-program-retain-sales-representatives-340151

    Solution Preview

    Incentive Program for Sales Employees

    Introduction

    An incentive program is a conventional scheme that is used to promote specific actions or behaviour in a group of people throughout a defined period of time. The incentive programs are being used from several years but now it has become quite common for motivating employees and more and more companies are using it (Armstrong, 2000). Nowadays, having an incentive plan is become critical so that employees can be retained. In present employees are attracted with higher salaries and packages from competitors that evidence the need of an incentive plan.

    In the given situation as the company is struggling to retain its sales representatives, it becomes critical for it to design an incentive program that may be based on different aspects like commissions, profit sharing, piece rates and bonuses. In the given company scenario, it is mentioned that employees of the company are given training and then they work for about 6 months and then leave the work and join company's top competitors. For handling this situation, it is essential that the company develops different incentive programs like piece rate, commissions, bonuses and profit sharing. The incentive programs that are appropriate for the company are discussed in this paper.

    Incentive Program for Sales Employees

    An incentive plan is a kind of pay or benefits related to an employee's performance as an individual, group member or member of organization. Well-organized and effectual incentive plans work as a tool of motivation for company employees. With effective incentive plans employees will get motivated and they will try to give their maximum and will not switch over to competitors (Mathis & Jackson, 2006). For retaining its sales employees, the company ...

    Solution Summary

    The solution discusses the type of incentive program to retain sales representatives.

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