When it comes to motivating your sales team, it’s important to match the right employee rewards and recognition with the right type of rep. Everyone is different, with different goals, aptitudes, and degrees of motivation. Therefore, it’s important to back your sales incentive program with different types of employee rewards, for every level of performance – so that top performers, new hires, and even the slackers all have something to work towards.
However, while letting your sales reps pick from millions of rewards makes your employee incentive program feel personalized, how do you know where to start? At Incentive Solutions, we recommend segmenting your target audience by the 20-60-20 rule. You can read more about the 20-60-20 rule here:
- Choose the Right Audience for Your Incentive Program
- You forgot to Include These Strategies in Your Sales Plan
- Ways to Improve Sales Performance
Or you can check out our latest infographic!
What Types of Employee Rewards Will Motivate Different Members of Your Sales Team?
Examples of Employee Rewards for Each Type of Sales Rep
While the infographic provides a good overview, it might be useful to include specific examples for each type of sales rep.
Top performers are intrinsically motivated and will most likely maintain a high level of performance. You just want to make sure that they maintain that level of performance for you and not the competition! Employee rewards for top performers should be commiserate with their level of performance. They should be highly personalized, meaningful, and memorable. Employee rewards for your star performers might include:
- A group incentive travel trip to a destination like Hawaii or Tahiti, where your star performers have a chance to let their hair down, enjoy some fun in the sun, and network with members of company leadership.
- A custom reward redemption from Uniquely Yours, so your star performers can pick out exactly what they want, whether that’s a new home renovation or a driveway full of Chevy Silverados. One of our client’s participants even redeemed his points towards an engagement ring to propose to his fiancé!
- The opportunity to earn high-end merchandise catalog rewards, such as a 4K TV or a new mountain bike.
- Meaningful recognition from company management and from their peers. An interactive Leaderboard is a great way to give their achievements some company-wide visibility!
Your middling majority, in a lot of ways, is the lifeblood of your organization. While they’re not as flashy as star performers, they make up almost 60% of your organization. Inspiring growth across this segment, even if it’s just a little bit, can produce a huge return. For your ‘Average Joes,’ a wide range of tiered rewards can motivate each sales rep to make a small (or big!) leap forward:
- Millions of points-based rewards that are highly scalable, ranging from easily attainable rewards (like an Amazon Echo) to big-ticket merchandise (like an HD projector).
- Debit and gift card rewards, although less personal and memorable than merchandise rewards, are an effective, scalable way to motivate a large audience.
- Give your middling majority employee rewards that equip them to improve performance. Learn-and-Earn is an incentive technology module that can help these reps improves their product knowledge, which will boost their sales performance.
You don’t want to invest too much in the bottom 20% of your sales organization. Unfortunately, the return for this segment won’t usually be as high. But, while most of these reps will never be star performers, a lot of them can do better – and you may even find some diamonds in the rough!
- Start small, with recognition or the chance to cross thresh holds to qualify for low investment rewards like movie tickets, Redbox movie rentals, or small gift cards.
- Set minimum thresh holds to eliminate sunk costs.
As your sales incentive program starts building momentum to create culture of high performance throughout your organization, it’s important that you get new hires started off on the right foot! Choose types of employee rewards that educate them about company core values, get them trained in their roles, and give them a chance to feel like they fit in with your other employees. These incentive technology modules can help them get pointed in the right direction:
- As we mentioned earlier, Learn-and-Earn is an engaging way to get sales reps learning more about your brand and your product offerings. This is especially important for new hires.
- Quick Points are a tool for providing immediate, on-the-spot recognition for new hires who exemplify core values or who meet their training milestones.
- Total Recognition is a social media-inspired wall, where new hires can receive recognition from their peers or manager. This type of positive affirmation is crucial for new hires, who are often eager to feel like they’re doing the right thing and are gaining acceptance from their more established coworkers.
- Plus, all of these modules get your new hires earning reward points,
Starting a Culture of High Performance
Are you interested in learning more about the type of employee rewards that motivate your sales reps? Are you ready to start building a culture of high performance within your organization in a way that’s sustainable and measurable?
We’re always happy to start those conversations. Shoot us a call at (866) 567-7432!