If you want your program to help boost sales figures, increase revenues, and attract top talent, here are a few potential conflicts to look out for as you go.
Sales incentives are a great tool for companies looking to increase employee engagement and loyalty. Finding creative ways to motivate you sales team is incredibly important, and in this process there are certain important pitfalls to keep in mind. When you're designing your own rewards program we recommend hiring a professional firm to help you avoid common mistakes, but if you want your program to help boost sales figures, increase revenues, and attract top talent, here are a few potential conflicts to look out for as you go.
Fair and square
The problem: The entire goal of a Sales Incentive Program is to reward your top performers for doing outstanding work. However, for many organisations, their roster of high-achieving salespeople is often populated with the same names and faces month after month, and even year after year.
While those star employees likely aren't too bothered about hogging the top spots, your less-accomplished (but still talented and hardworking) salespeople may start feeling disillusioned. Put simply, by rewarding the same team members over and over again, you may end up alienating and demotivating everyone else, which can hardly be considered progress.
The solution: Offering a healthy mix of personal and group-centric rewards is key to keeping everyone motivated. For example, peer to peer recognition which includes celebrating achievements as a group, and shouting out teammates for their hard work is a great way to highlight your top performers' progress without boxing everyone else out. Birthday awards are also a simple and easy way to give each worker a well-deserved moment in the spotlight.
The problem: In the world of rewards, there's a fine line between going above and beyond your job description and meeting the expectations for your role. One of the biggest challenges for HR teams is to communicate this difference gently and effectively.
For example, team members who routinely meet their sales goals and bring in a solid number of new leads on a monthly and annual basis are simply doing their job well not going above and beyond. However, they might start feeling entitled to the bonuses being doled out to the standout sales stars on the team. If those workers begin to feel underappreciated as a result of your incentive program, you'll quickly find yourself in hot water.
The solution: When you first roll out your sales incentive structure, your employees should never have to rely on guesswork to figure out what's what. Communicate clear guidelines for what constitutes regular, everyday achievements (which are also important!) and the kinds of successes that qualify for a reward.
No silver bullet
The problem: Some organisations believe that integrating a Sales Incentive Program is a one-size-fits-all answer for motivating employees and boosting sales figures. However, that could not be further from the truth. Committed, highly-engaged teams thrive off of a combination of factors, many of which are related to having a strong and competent management team. If your rewards structure is the only thing holding your team together, don't expect that glue to hold for very long.
The solution: Be optimistic yet realistic about what incentive programs can do for you; they are not a silver bullet that can solve your hiring and retention issues. Without a solid foundation, simply rewarding your employees might not be enough to create an inspiring, engaging work environment.
Don't fall victim to simple mistakes, contact the experts at Power2Motivate today to start building your very own Sales Incentive Program, the right way.