Incentra Insights

Generation Y’s Impact on Sales Incentives

Posted by David Chittock on Sep 21, 2018 1:24:00 PM

Guess What? They’re Here.

There’s has been volumes written about what was going to happen when millennials hit the workplace. Well…they’ve arrived. And they’re taking on more and more senior roles in leadership, management and sales. In fact, the Pew Research Center estimates that by 2020 millennials will be the largest percentage of the workforce.  So what does this mean for incentivizing your sales force?  Will it have an impact on how you motivate and reward your sales teams?

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Topics: Millenials, sales incentive, Sales Incentives

Best Practices in Sales Incentive Planning

Posted by David Chittock on Aug 24, 2018 1:01:00 PM

The Time to Plan Is Now

Okay, so your sales operation has gone digital. You’ve embraced multi-channel sales and Internet sourcing. Your sales team is social media savvy and armed with mobile devices. Now it’s time to bring your sales incentive plan into the 21st century. You might have already started the planning process. But before you jump in, you may want to consider some fundamental principles that will be key to your success in today’s digital marketplace.

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Topics: sales incentive plans, sales incentive plans best practices, Sales Incentives

Going Digital with Your Sales Incentive Plan

Posted by David Chittock on Jul 13, 2018 11:00:00 AM

Taking the Plunge

So you’ve read everything you can about the digital economy, multi-channel sales, and social media sourcing. You’re ready to take the deep dive into redesigning your sales force reward strategy. But where should you start? Having a digitally enabled workforce and an Internet savvy customer base will inevitably change your entire sales culture.  So, how will this affect your sales incentive planning?

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Topics: Channel Partner Sales, sales incentive plans, Sales Incentives

Is Your Sales Incentive Plan So Yesterday?

Posted by David Chittock on Jun 8, 2018 10:00:00 AM

What Happened to My Sales Incentive Plan?

So your sales incentive plan is just not producing the great results you used to get. Tweaking and updating it is just not getting the job done. Unfortunately, it’s not the time for a simple upgrade. It’s time for a whole new approach; an entirely new strategy that can transform your sales culture into one that can win in today’s multichannel sales environment.

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Topics: sales incentive plans, Sales Incentives

Sales Incentive Plans – Easier Than You Think!

Posted by David Chittock on May 2, 2017 9:27:14 AM

A Changing Environment

Many Sales Managers dread the thought that each year they need to create a new sales incentive plan.  This task can be even more daunting in the light of current dramatic changes in sales roles and processes.  As we discussed in a recent blog, subject matter experts are swiftly becoming key contributors to successful sales efforts.  Changing buying patterns and more informed customers are truly impacting sales processes and the ways we compensate sales performance.  So how does a manager begin to plan?  Where do you start?

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Topics: sales incentive plans, Sales Incentives

2017 Sales Trends - Is Your Incentive Plan Ready?

Posted by David Chittock on Apr 10, 2017 9:22:24 PM

What Can We Expect?

Recently, Forbes published an article entitled “Leading Sales Trends Expected to Drive Success In 2017”.  In it, the author states that these developments will have a direct impact on a company’s bottom line.  If sales managers are not planning for these trends, there is a good chance they could be falling behind their competitors. So what do you need to know about these trends and how they will affect your sales incentive plan?

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Topics: Sales Incentives

So How Do You Get Organic Employee Recognition?

Posted by David Chittock on Feb 29, 2016 11:44:02 PM

Where Do You Start?

HR.com just posted a blog of ours about Organic recognition that is worth a read, if you

missed it on our site. We made the case that if an employee recognition program is

going to achieve the results HR is hoping for, it will have to be organic; that is, part of

your company’s DNA. Here’s the post: http://tinyurl.com/hbzsx29

The question is - how are you going to ensure that your recognition program is an

intrinsic element within the living organism that makes up your company’s culture?

Here are some guidelines to help you get on the right track. . .

Keep It Natural

Organic means natural, that is; no additives or foreign elements are included. In other

words, don’t impose a recognition program on your employees. Rather, create it

naturally to reflect your mission, goals, performance measures and most importantly,

with input from your employees. Growing your employee recognition program from

within will ensure that it becomes part of your corporate culture and ultimately part of

your DNA. If your culture is one of appreciation, it will naturally take root within your

organization and flourish.

Make It Personal

It is so important to understand the diverse nature of your workforce. There can be no

cookie cutter approach here; one size does not fit all! People are different in many

ways and you’ll need to consider all those differences when deciding how to recognize

and reward your workers. Your managers will have to make a special effort to get to

know the people they manage and become sensitive to their individual needs, desires,

and preferences. The personal touch really does work.

Show Empathy

The watchword here is consideration and understanding. Workers don’t leave their

lives behind when they enter the workplace. They may have personal and family

issues, health concerns, financial distresses; any number of anxieties that impact their

daily lives. A little compassion will go a long way toward helping employees deal with

such difficulties and motivate them even more strongly to perform to the best of their

ability in their job.

Be Transparent

Probably the most important trait of an organic employee recognition program is

transparency. Most people can tell pretty quickly if their managers are not being totally

honest with them. Make sure your workers are always on the same page as you about

the company and its successes and challenges. Hold frequent “state of the state”

meetings where everyone is kept appraised of where the company is and where it’s

going. This will engender a comradery which will boost overall morale, loyalty, and

pride in the organization.

Promotion Speeds Utilization

Like anything organic, your employee recognition program will have to take root, grow,

and thrive. But with considerable tending and nourishing in the form of aggressive

communications, promotion, and celebrations, the end result will be totally worth it.

Once your recognition process becomes part of your DNA, there will be no limit to what

it will achieve for your organization.

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Topics: Sales Incentives

Best Practices in Channel Sales Incentive Programs

Posted by David Chittock on Aug 17, 2015 12:37:00 PM

How Do You Know if You Have Them?

 

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Topics: Sales Incentives

Sales Incentives – Experience is the Watchword

Posted by David Chittock on Apr 7, 2015 4:39:00 PM

Gift Cards and Incentives in the Experience Economy

shutterstock

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Topics: Sales Incentives, Employee Engagement

Sales Channel Incentives – A New Ballgame

Posted by David Chittock on Apr 1, 2015 11:50:00 AM

The Growth of Incentive Gift Cards

 Incentra-Blog-Recovered

Recently, the IRF conducted a study into the meteoric growth of the incentive and gift card market.in channel partner sales.  For over five years, merchandise and gift card incentives have been steadily building and show no signs of trending downward. During 2014, more than a third of planners increased their incentive merchandise/gift card budgets while less than 10 percent decreased them during this time. In 2015, the market is projected to continue to strengthen, with 44 percent of program owners increasing their budgets and a scant 6 percent decreasing them.

What’s Driving This Growth?

 

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Topics: Sales Incentives