Those in and out of sales usually think of sales executives as entitled prima donnas. Unfortunately the stereotype is proven over and over again to be true. Use this stereotype to your advantage when developing a strong rewards and recognition program.
The fundamental criteria for any reward or recognition is that it be timely and relevant. This is true regardless of if it involves a sales person or not. While annual gatherings or bonus plans are great, in order to reinforce good behaviors it needs to be far more frequent.
There is no doubt that top performers place a high value on monetary rewards. Financial rewards are usually established when doing annual budgets, once locked in they can seldom be changed. Monetary rewards also require a lengthy approval process when not established up front.
Sales executives also crave regular feedback, autonomy and wide degrees of freedom. All of these things are easily within your control and do not require approval from other members of your organization. When you consider the plethora of other ways to reward and recognize through non-monetary means, you have a well-rounded plan to motivate your sales team that will likely lead to success.
Have you recognized a member of your team lately? There is no better time than today to do that and it will go a long way in driving your team to meet their objectives.
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