Implementing Employee Sales Incentives
The success of any small business or big company is directly proportional to how motivated its employees are. This is why small business owners should look for the best employee sales incentives to reward their employees based on behavior and performance. Here are some incentive programs which will definitely boost the success of your business:
If you are a small business owner, you should implement any of the following bonuses; spot bonuses, referral bonuses and signing bonuses. Spot bonuses are awarded based on employee behavior. For example, employees are awarded for going above and beyond, completing projects or special recognition. Spot bonuses should be about $25 or more.
Referral bonuses, just as the name suggest, are granted to employees who refer job candidates and get hired. However, these candidates must complete a probationary period at your business.
Signing bonuses are not often used in small businesses, but they can be. They are used to motivate and generate more positive attitude towards new employers. Furthermore, if you are operating under a tight budget, this incentive can enable you to hire experienced employees at low starting salaries.
Introducing flextime allows employees to work outside the traditional rules of your company. This creates more flexible schedules which in turn boosts high-performance. The good news is that virtual business are generally already on a flextime schedule, so you can use that as your incentive when hiring. Of course, if you need your virtual employees to be working set office hours, this may be a more difficult incentive to offer.
Paid Days Off
If your employees are paid on a commission basis, this could just be a set amount of money you offer. If however, they get paid a certain daily rate you could offer to give them an additional day’s pay if they meet certain quotas. For example, if they sell X number of units in a given week, they get $100 on their next paycheck. Or if they receive $10/hr and work 8 hours a day and sell that number of units they receive an additional $80 for no extra work.
Gift Cards and Certificates
If giving cash doesn’t work for you, and flextime isn’t feasible, perhaps you could give employees gift cards as an incentive. Dinner and a movie, certificates to get their hair and nails done, or gift card to their favorite department store. The cool thing about this incentive is you can cater it to the employee.
Show that you care about your employees
Incentives show your employees that you care. They show that you’re willing to reward them for their efforts on top of any annual raises you may or may not give them. In addition to these types of incentives be sure to consistently praise them for a job well done. The happier the workforce, the harder they will work and your business will see major benefits from this.
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