Making people feel motivated about their jobs helps companies get the best possible performance out of them. There are many ways to create a positive fervor in an office, but one of the leading methods is through targeted sales compensation management tactics. These programs offer personnel a tangible reward for the effort they put forth, though there's an increasing amount of importance being placed on recognition and perks as well that encourage businesses to look into alternative ways of getting employees to exceed their regular expectations.
Offering new incentives
Auto News Online wrote that car dealerships in some areas have had luck with offering incentive compensation plans to their personnel in a variety of different job capacities in order to help the entire organization fare better. The source stated that one firm, Southwest Kia in Mesquite, Texas turned all their staff members over from commission-only to salaried personnel with the opportunity to earn bonuses. This takes some of the pressure off sales professionals and lets them focus on making better deals, thereby drawing in more overall revenue for the corporation rather than struggling to stay with the company in the first place.
"What we're finding out is we don't have to pay the higher amounts to get the same production, and we've got happier people because they're not working 80 hours a week," said James Seale, the dealership's manager.
Making big changes
This changeover has allowed the firm to improve its retention rates and promote higher-performing personnel to better positions in leadership and other sections of the organization, such as the finance department. What's more, by making all personnel salaried, the firm enjoys a much better satisfaction and engagement rate from personnel than ever before, and when sales professionals are happy, customer service levels go up.
Businessweek wrote that companies with higher job satisfaction rates saw better competition among applicants and were able to exert more control over their internal processes. Offering more perks and greater flexibility to employees were among some of the most sought-after options with firms providing incentive compensation. At the end of the day, the source stated the thing that can set two seemingly equal firms apart is the amount of money and kinds of benefits the organization offers its personnel. Regardless of the industry or level of pay, employees want to feel like they're getting the best deal and the most honest income for the effort and services they offer. It's up to employers to make them feel like their time is even more valuable.