Rewards are always welcomed, especially when they are work-related, as getting one motivates people, and providing them offers satisfaction. As an employer, what every one of us wants is that there is enough work, that employees complete all daily and monthly tasks, and even exceed them.
When employees surpass some goals, especially in sales, there is no better way to motivate them even further than to reward them, and what better way to do so than through a sales incentive program.
Every sales company has some kind of a sales incentive program, and if you work for one that doesn’t have, well, we think you know what you need to do. But, those who work at a sales company where rewards for excellent and exemplary results are a common practice are aware that these awards can vary and that they mostly depend on how great results some employer achieved.
Depending on that, the reward can be some kind of monetary compensation or a gift of some sort, but perhaps the best way to reward and motivate employees at the same time is to create a perfect combination of these two, and for some truly remarkable results, money as a reward along with some gift is the ideal choice. Since there are many things one can choose for their sales incentive program, we summarized some of the best ones, along with how to structure one, what the trends are, and what incentives already have proven results.
Gifts and non-monetary prizes
Although many would argue that there is no better present or reward to give someone than money, in reality, offering and giving something unique and personalized is a much better solution. It is the best way to show your employee that you are listening and that you as the employer know who each person working for you is, what they like and want. That is why sometimes the prizes that are not monetary have a better impact on motivating employees than monetary ones.
That is because of the fact that non-monetary rewards many people can actually see, ask and discuss that, and every time you talk about it, you will feel proud about it. These rewards have a huge psychological effect and make people work harder to get another one, and can also inspire others to work harder and get one for themselves.
Of course, monetary rewards are something that no one will reject, but non-monetary ones have a much greater emotional value and can make the person who gets them feel proud and important. Everything can be a perfect gift, from the shirt or watch to a new laptop, and the more diverse rewards are, the more employees will be satisfied.
Set the incentives by roles
Keep in mind that different roles in the company require different efforts and different talents, so it is necessary to set the incentives for each position separately. In that way, you will create the rewards regarding the individual capabilities of the employees, so each of them will try harder to get the prize according to their abilities.
Setting the incentives by roles also means that employees who work better than others also need to try even harder to get the reward, and those who are not that good at their job will also have a chance. Another good idea is to learn more about the people from the company, find out what is significant to them, and set that as an incentive.
It might take more time, depending on the number of employees, but it will help the company because they will surely work harder if they are aware that the prize is something they love.
Keep it nice and simple
Simple things are much better than complex ones in most cases because it is always much easier to understand them. Because of that, the incentive program of your company should remain as simple as possible because it is the only way to be sure that employees know what you expect from them.
Every employee needs to understand the program and exactly know what is expected from them in order to do the job successfully, and the goals need to be set and explained to every person to the company because it is the only way to achieve them. On the other side, a too complex program can confuse new workers, and if they are not sure what is expected from them, they cannot do the job properly, and the company can lose a lot of money.
Give a chance to every employee
Many companies have their superstar, and that is the employee who is with the best work score, which is great but can make the others feel inferior. Because of superstars, it is necessary to change the rules of competition between the employees, and give the reward for a different behavior every time, to make sure that each of them has a chance to participate.
By doing so, the relationships between employees will be much better because if everyone has a chance to win a prize, there will be less jealousy among them, and each of them will feel important and valuable.
The bottom line
Everyone loves gifts, and when they come for being the best at something or for achieving the best results, no matter what the awards are, they mean much more to us. Besides that, creating a positive, healthy atmosphere and a competitive work environment can boost the company’s rates but also the team chemistry, without which good results are hard to achieve since we all know how good relationships at work can have an immeasurable impact on the entire businesses.
If these tips on how to properly structure sales incentive program are enough or for those who want more info, there is no better place to get them than @lift-and-shift.com/wholesaler-and-distributor-programs, as you will also be able to order a demo, just to have a look at how Lift and Shift’s powerful loyalty platform actually works and why it produces such great results.