Sales teams are at the heart of any organization, serving on the front lines of product and service selling in order to create personal and corporate capital. This essential function can be done in an array of arrangements from single, individual sellers to teams to intermittent competitions.
Similarly, sales departments can have a vast assortment of compensation strategies geared toward motivating and empowering salespeople to achieve greater and greater heights. Payroll infrastructures that involve incentive compensation management (ICM), merit increases and other incentive-based plans that hinge upon seller performance often provide the best, mutually beneficial blueprints for financial prosperity.
However, before ever bringing someone on to the sales team, it’s important to assess their personality and professional qualities, as the sales sector requires a highly competitive, self-motivated, savvy person. Here are a few things to keep in mind when assembling a star sales team:
- Find the right personality: “Not all salespeople are created equal,” posited Inc. Magazine – and they’re right. Just like any other skilled profession, it takes a certain set of personal attributes to be a successful salesperson. Confidence over arrogance backed by a history of closed deals, customer references and product knowledge help set some apart as sales superstars.
- Combine training methods: As each organization has their own unique, personal sales style, it can take a lot of employer time and resources to onboard new additions to the force. Distributing cross-sectional training packets, and holding seminars and meetings will help to consolidate timely, but necessary, training while still educating salespeople on best company practices, Chief Executive wrote.
- Motivate: Although an inherent quality in many salespeople is self-motivation, the company must play a role in helping sales employees feel empowered and autonomous, while also supported by the organization, according to Chief Executive. The ability for a business to encourage and energize employees will be reflected in the overall profitability and productivity of the company.
When considering motivation, an important factor to keep in mind is the financial incentive many salespeople work to achieve. Companies that offer performance-based pay, such as merit increases, allow more flexibility and higher earning power by employees, contributing to the overarching success of the company – especially when done in teams.
Teams, technology and compensation
When already powerful sales individuals come together as a cohesive force, not only is their monetary potential amplified, but so is the company’s. According to World at Work, benefits of sales teams as compared to individual-based strucsures include fostering a “no problem, that’s what I’m here for,” environment while also delving deeper into the needs of customers. In addition, complex sales issues are solved more efficiently and in a timelier manner.
Once sales teams are assembled, it’s important to choose a compensation structure that will be transparent, such as ICM software that allows both employees and managers access to income data. Technology and sales have an integral relationship necessary to propel salespeople toward potential clients and financial rewards.
Part of the compensation process will be evaluating and rewarding sales performance, Entrepreneur said, a concept that can be integrated into ICM software. For example, salespeople could have the option of higher earnings after reaching certain benchmark numbers or achieving personal or corporate milestones that are incorporated into their ICM plans. This system allows managers and sales associates to track progress together. Especially in an increasingly competitive world, the use of technology in sales team planning and compensation distribution is a must, said Inc.
“Explosive innovation in sales-support technologies over the past several years has allowed companies to juice the effectiveness of their entire sales organizations, especially inside sales teams,” Inc wrote.
As companies grow and evolve their sales teams into selling powerhouses, they should be mindful of the qualities it takes to be successful in the field as well as ways to motivate sellers through innovative compensation solutions.
