Be strategic, the best incentive plans promote behaviours that are consistent with the company’s strategic plan, marketing efforts, financial goals, productivity processes, and personnel development. Without purposeful linkage to your performance incentive strategy, sales and channel incentive plan risk promoting behaviours that are contradictory to the stated strategy.
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Employees must be measured to determine if they comply with the goals set out in the performance, sales and channel programme. If there is no clear evaluation process, neither you nor the employee will know whether the goal has been met or not. And if you don’t know if the goal was met, then you […]
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Sales and Channel Incentives don’t motivate people unless they see value in the reward. It doesn’t have to be money, but it does need to be meaningful. Rewards have to be desirable to a range of people with different motivations. This is why offering a variety of rewards is a good idea. Employees can then […]
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The best plans are derailed by poor communication. It is important for every participant to know what is expected and how it will be rewarded. Specifically, they must know “how much extra money or what reward will I receive by accomplishing a specific goal?” Your employees must know their own and the company’s objectives, which […]