Incentives For Employees To Increase Sales

Incentives For Employees To Increase Sales

Posted by AA on 21st Feb 2019

Using the right incentives in the workplace will encourage employees to increase their sales. If your business sells products or a service, you should constantly work to improve your numbers. One of the most effective ways to achieve higher sales is by offering incentives to your employees. When employees are rewarded and shown appreciation, they’ll naturally push themselves to achieve greater sales. But what types of incentives should you use?

Job Promotion

Offering a new job position to your employees is one way to encourage more sales. Most employees are eager to work their way up the corporate ladder, but unfortunately few bosses allow for professional growth. If there’s an open position in the same field of work they are currently in, the perhaps you should let them know about it. This will give them a newfound drive and determination to make more sales while striving for excellence.

Cash Bonus

Of course, a cash bonus is another highly effective incentive that’s sure to translate into more sales for your company. Plan out a tiered bonus system beforehand so both you and your employees will have a clear understanding of how many sales are required to earn the cash bonus. When the goal is written down on a poster board, it will be easier for employees to reach.

It’s important to note that business owners and managers must choose a cash bonus that’s within their financial means; otherwise, this may not be a cost-effective incentive. Go through your business’s finances to determine how much ‘extra’ cash you can offer as an incentive.

Trophy and/or Plaque

Arguably, the best all-around incentives to improve sales are trophies and plaque awards. Giving your employees an elegant crystal award engraved with their name is a meaningful incentive that beats generic ideas like gift cards or free dinners. A personalized trophy or plaque is also something the employee can look back on for inspiration in the future. Unlike gift cards or cash that are here today and gone tomorrow, a trophy or plaque will remain with the employee for countless years to come.

Regardless of which incentive you choose, let your employees know the amount of sales required to reach. It’s also not a bad idea to set up a tiered system with multiple levels of incentives. If an employee really knocks it out of the park one quarter with an exceptionally high amount of sales, perhaps they can receive a unique incentive