Our topic, for this month’s newsletter and blogs, is keeping your company’s attention on year-end goals despite the major distractions of an emotionally charged Presidential election.
A critical component of achieving year-end goals in this time is making it incredibly attractive for your salespeople and staff to meet those targets.
Bonuses and Rewards
If you examine the operating structure of any company that routinely achieves its targets and their overall success, you’ll find it has a healthy plan of bonuses and rewards. These aren’t just for the salespeople—they’re also for non-sales staff.
The truth of the matter is that no business is successful and achieves its goals on the backs of its salespeople alone (although some salespeople would certainly make that claim). Every part of the company has something to contribute to the overall forward momentum of the business.
In a company that manufactures its own products, manufacturing must produce high-quality products for sale, so that customers are satisfied and keep coming back. Marketing is tasked with growing an ever-increasing pool of potential customers through creating desire and reach for the business’s products and services. Accounting makes sure that all funds are properly taken care of, bills are paid on time, funds owed are promptly collected, and expenditures are kept under control. Delivery makes sure all products and services are gotten to customers on time. Customer service ensures that customers are always kept satisfied and, when they’re not, any troubles are rapidly rectified. And executives are tasked with providing effective leadership and guidance for all areas of the company.
So that every department does its bit to make sure the company continuously succeeds, everyone involved (and that’s everyone in the company) should be rewarded when they meet their own targets and effectively contribute to the business making its overall quarterly and yearly goals.
In Times of Distraction
Now, given that a company has implemented such a structure for every employee, what should it do in a time period as distracting as an election year? Not just an election year, but one as charged with rampant emotions as this one is?
Since the distractions have been increased, the rewards for outpacing those distractions should also be increased.
As this is written, there are a couple of months before the election. The bonuses and rewards for making targets and achieving quotas leading up to the election should be made even more attractive than they normally are.
This would include bonuses for all employees in non-sales positions. And it would, of course, include bonuses for salespeople who meet the targets for themselves, for their sales units, and for the overall sales team.
Now if a company really wants to spread its wings, it should make it possible that the rewards and bonuses for exceeding targets are even higher. In other words, employees and salespeople are already rewarded for making targets and quotas before the election—but bonuses and rewards can be incrementally higher for every level above and beyond those targets and quotas achieved before the election.
Operating in this fashion will give the company the extra momentum required to wind up ahead of where it needs to be by election time—and will position it nicely to finish up the year successfully.
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