Compensating Salesforce

In: Business and Management

Submitted By adman
Words 1114
Pages 5
Compensating Salesforce

Compensating a sales person is one of the most important part of the sales management . It is factor which may be crucial in achieving phenomenal sales growth or result in a negative manner to . The basic benefits of a compensation plan is that
• Helps attract potential salespersons
• Impacts a salesperson’s motivation
• Is a determinant of status and value
• Determines lifestyle and purchasing power

Theories suggest people’s actions are driven by one or more of the following factors like:
• Economic. Sure, economic reasons drive a lot of behavior. Defining the word “economic” broadly allows us to include not only money, but also health protection, security, wealth, physical safety and purchasing power. Sales compensation payments are a natural fit for this factor, but not universally. Sales compensation payments, for example, do not fully satiate the need for security and physical safety.

• Social. When people think about and act upon what others think about them, we are tapping into their social psyche. As a general rule, most people want to receive positive recognition and live in harmony within their social environment. People gravitate to actions that earn themselves positive feedback and avoid performance that garners negative feedback. Measurement (with or without money) is a compelling social lever.

• Self-Construct. Often cited as the “wild card” in human behavior, a person’s “self-construct” provides an inner voice that answers the question: “What is right for me?” Self-constructs can be enduring, maturing or ephemeral. An important component found in self-constructs is the pursuit of self-accomplishment.

Each of these factors meanders and crisscrosses each other, then doubles back. The point is: No matter how much we want to, it’s not easy to reduce humans to a presumption; this includes sales…...

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