There are several ways to motivate your team to reach superior results, and contests and incentives are one of the most effective ways. Why? Because getting your work praised is great, but getting an actual reward is even better.
Offering the right incentives can help you boost your team’s productivity by adding motivation and improving workplace morale. The compensation plan includes the financial incentives that are a great way to reward outstanding achievements, but when it comes to motivation, they may become dull and insufficient. Of course, everyone likes to get extra money. But if you want to spark up new ideas in people and encourage teamwork, you may want to look into the non-monetary ones as well.
This kind of incentives is connected directly to the workplace and the work process. Work incentives may prove to be quite cost-effective for your company, so they’re definitely worth being considered. Some examples of work-related incentives are:
- Home office privileges
- Extra days of paid holiday
- Reserved parking spot
- Improvements in the office space
- Lunch vouchers
Whenever you’re thinking of a new way to reward and motivate your team, always make sure that the value delivered is proportional to the expected value from the salesperson. For example, having a salesperson out of the office one extra paid day will cost you something, but when they come back well rested and motivated after a surprise 3 day weekend, the extra productivity will more than make up for it.
Merchandise or any other goodies that your salespeople a) would really appreciate and b) don’t already have is another incredibly effective kind of motivation. You’ve got to get a little bit more personal with your salespeople to find out what they may appreciate. Someone could really use a new smartphone, someone else would rather get a set of lava stone plates. You can either give them something personal that will make them happy, or choose for something to indirectly boost up their productivity.
- Tech gadgets (smartphone, tablet, notebook)
- A fashion piece or accessory (suit, watch, briefcase)
- Hobby-related items (a set of steak knives, golf club, National Geographic subscription)
Career & Experience Incentives
This last group of incentives for your sales team may get a bit on the more expensive side, depending on how you decide to tackle it. Career and experience incentives generally lie in spending some extra time with your team with some educating and development activity, with an appropriate amount of fun and relaxation. It doesn’t need to be a weekend-long training with a free drink at the end — that doesn’t really sound like an incentive in the first place. An one-on-one golf course on a workday may be a much more effective way to go. Here are some ideas:
- An all-inclusive weekend in Vegas
- A group dinner, bowling or mini golf night
- Paying for professional group memberships
- Organizing team trips with added value of a lecture or a discussion board
As you can see, here the choice you have is extremely broad. However, don’t think that a low budget only brings bad results. Carefully considering your options, getting to know your team’s desires will help you come up with the right way to energize your team.
However, watch out. Lack of motivation is a possible holdup in your business, but it doesn’t always have to be the case. Make sure you’re observing your team closely enough, so that you can successfully determine the real cause of your team’s lower performance. It could be a bad sales technique, a need of pitch improvement, an error in pipeline prioritizing and so on. Knowing exactly what’s holding your team down and being able to come up with the right patch for the crack is the number one skill of a sales manager.