In today’s tight labor market, it is critical to keep your most valued employees – especially those in sales! Study after study has shown that
money isn’t a significant factor to retain employees. So, what can YOU do to keep your sales people motivated and happy to remain with your company?
- What tactics can you employ to increase employee engagement?
- How can you improve morale to better retain key talent?
There are several timeless factors that are likely to motivate sales people to achieve huge success – for themselves, for their sales team, and for your company.
In this week’s article, we will share 7 tips to help motivate and retain your salespeople.
Show me the money? Although money may seem like the obvious motivator for sales people, this is certainly not always true. While receiving a handsome compensation package can be motivating for many, it is by no means the sole motivational factor to consider when trying to inspire your sales people to succeed. And, it is not usually cited as the most important employee retention factor either…
So, how else can you motivate and retain your sales people? Read on…
- Reward with Incentives. Commission incentives are an obvious motivation factor for sales people. Using commissions to reward sales people is a common approach to motivate a sales staff. But, before you think you’re all set and decide to skip this section, take note: Be certain your commission structure is designed to actually incentivize desired outcomes. Do you want to increase profit margins? Push a new product line? Develop a new market? Be sure you are properly incentivizing those specific goals. A bonus system that motivates employees to improve performance and reach or exceed desired corporate outcomes can have a huge positive impact on your bottom line.
- Peer pressure. Most sales people respond well to some degree of positive peer pressure. Publicly post goals, # dials, conversion rates and other sales stats. Make it fun! Use a “free lunch coupon”, or similar reward to spur people on to reach certain targets. Create a fun, enthusiastic environment in which everyone can participate and benefit from a little dose of positive peer pressure.
- Align, Engage, Inform. Company alignment and employee engagement are also significant motivating factors for most professional sales people. Inform employees of corporate plans and goals. Knowing that the company is goal-driven and focused on improvement helps motivate and lift up all employees. Align, align, align… Be sure your company’s 1-year, 5-year and 10-year goals are publicly known and that each individual understands their role in reaching the broader company goals. Engage and involve your employees whenever possible. Develop employee-led, goal-driven teams. When employees are given a say in the company, they feel heard, thereby increasing employee motivation. Keep them informed and involved. (Remember, it is often the employee closest to the “work” who really knows how to improve and streamline a process or improve working conditions for the betterment of all.)
- Public Recognition. Publicly acknowledging a job well done to further motivate your sales staff. Some managers believe that if a sales person is doing well and receiving proper monetary compensation for their efforts, this should be enough. Counter to that thinking, it has been proven that public recognition and praise is highly rewarding for most people. So, take the time to publicly recognize people’s contributions and efforts – it means more than you might think.
- Give Thanks. Similarly, a sincere and simple “thank you” for a job well done can also provide fuel for the motivational fire that burns within each of your sales reps. Be sure to offer sincere thanks for a job well done. Encourage and compliment individual efforts and contributions. These small gestures can have a big impact on employee motivation. So, don’t forget to dish out a well-deserved compliment now and again.
- Provide Growth Opportunities. Demonstrate interest in your employees’ long term development. Show that you care. Discuss their goals and interests. This kind of attention can boost morale and employee commitment to your organization. Knowing management understands the sales person’s need for achievement and professional growth helps build employee trust, commitment and motivation. Offer professional development classes or workshops. Offer leadership opportunities whenever possible, to help foster leadership growth and succession opportunities. Identify key employee skills or talents. Seek out and utilize an employee’s natural strengths to build morale, job satisfaction and employee motivation.
- Give them the Tools to Succeed! While this may be obvious, making sales people dig around to find their own leads devalues and demotivates them. If you want to motivate and retain the top sales people in your organization, you must provide the tools that allow them to succeed. If they are in sales, this means giving them tools that free up their time to SELL! One critical sales tool is a high quality corporate training and HR database. Providing your sales team with the exact decision maker contacts they seek is a huge boost to their morale and productivity. They will finally have access to the exact decision-makers they need! Not only will your sales staff reap the financial rewards as a result, but your corporate bottom line will benefit as well! So, give your sales people the training and HR decision-maker database they need, and increased motivation and employee retention will follow.
Implementing these important motivational factors can go a long way toward creating a positive, motivated and high-energy sales team…
And when you decide you’re ready to give your sales team the corporate training & HR decision maker contacts they’re looking for, contact Mentor Tech Group. We can help. Call: (651) 457-8600 Ext. 1.
Happy Selling!