6 Incentives To Motivate Your Sales Reps
It goes without saying that individuals are the most valuable resource at any organization. With an economy that can feel like a roller coaster ride, it is more critical than ever to have a motivated workforce. When an employee is more productive, they become more profitable. And conversely, a less productive employee becomes less profitable for your business. With a tight budget, motivating employees can feel daunting and a company-wide raise might not be a viable option. That is why managers need to find other alternative options to motivate their staff. The good news is employees are motivated by more than just cash. Continue reading to learn of great incentives for companies on a tight budget.
Hold Special Events At The Office
You might create a staff committee for the sole purpose of setting up fun workplace events a few times a year--with a set budget of course. We've all heard of Casual Friday--that day is not as exciting as it used to be. So, why not have special events such as "Mardi Gras Day or "Bring Your Pet to Work Day. These days should be held on a Friday, since that can be a slower day of week. As a result, employees are more excited and motivated to get work done in order to enjoy the festivities.
Have a Quota Achievement Party
When a sales team meets a goal, they will be happy to receive some type of recognition. A party does not have to be expensive to be enjoyable. Pizza is always an inexpensive option, so are catered sandwiches and cookies from your favorite sandwich shop. The fact is, your team gets free food, recognition and some social time!
Use Social Media
One of your sales reps worked tirelessly, getting the most out of their CRM system and overachieving their sales quota. Or, perhaps they closed a large deal your company badly wanted. What's a free way to recognize that employee for a job well done? A social media mention. With their permission, you might even include their photo and details of their accomplishment. Your social media followers see this recognition and might be more apt to contact this stellar employee. Other staff members will notice the recognition and may work harder to receive the same praise.
Offer Paid Days Off
Technically, this doesn't involve spending any additional funds. Make sure your employees understand this is an option for specific types of behaviors. Also make sure that the recipient schedules the days off so that deadlines and meetings aren't missed. Coworkers won't mind sharing the work if it means they can win a paid day off in the future, as well.
When an employee performs exceptionally well, you might offer them exposure to C-level executives at your company. You might give a top performer a mentor. On the other hand, you can let that employee lead a sales meeting or plan the day for the team. You might not be able to afford a significant salary increase, but this type of reward will be appreciated because it can help boost their career.
Keep it Individualized
Remember that a team is composed of unique parts and each member has different needs and wants. Sometimes, it just helps to ask what each team member really values. One might prefer a day off while another would like to telecommute and still another would enjoy a plaque to hang. Understanding what each of your staff wants goes a long way in terms of sales incentives on a tight budget. Your employees will also feel more valued, leading to increased motivation and productivity.
As you can see, sales incentives don't have to cost an arm and a leg. With some planning and creativity, you can go a long way towards offering great sales incentives on a tight budget.