Sunday , December 8 2019
Home / Projects/Reports / Incentives Plan for Sales Team

Incentives Plan for Sales Team

The product of my company is Rain-X; improves the visibility of the glass, any type of glass could be cleaned, bestIncentives Plan for Sales Team suitable for the glass of cars. I want to sell Rain-X through the motivation of my employees; employees are important asset to any organization, sincere and train employees can give benefits to the organization (Rainx, 2016). As much as there are sells, the profitability will be increased. For the motivation and bestselling of the products, I will design incentives plan for sales team that will be associated to them, following are some incentives plans.

Incentives Plan for Sales Team

Pay Plan

The pay of all employees should be equal, however, should be increases with the better performance. The budget of the pays should be according to the job market data, annual budget process and organization compensation objectives, the salaries of the employees, should be adjusted to maintain the ranks of the employees. For the good selling f my product Rain-X, I will give according to the ranks, as if the supervisor or leader will have the maximum pay compared to the other employees.

Commission

The commission will be given to the employees, according to how much they sell, maximum commission will be given on the maximum sales for the motivation of the employees, due to the commissions, the existing employees will l perform better and others will try to maintain the commission. The percentage will be given according to how much Rain X they have sell, and how many of them can motivate the people or customers to buy the product (Gibbs, 2012).

Bonuses

The bonus made the employees to respect their organization; the bonuses could also be given on the best performance, example the situation could be, I day to my employees, the one who sell the maximum products (Rain-X) to the customers will be given bonuses. In the end of the year, I will plan the bonuses as it could affect ones performance for the achievement of the goal and the performance or target could be achieved.

Rewards

Rewards are given timely for the motivation of the employees, the rewards could improve one’s performance, I will also give rewards o my employees, on their achievements and if they succeed to enhance the organization productively and effectiveness. The rewards help to meet the demand of the employees, there will be monetary and non-monetary rewards for the employees, the rewards will base on the selling of the Rain-X product (Marsdd, 2016).

Benefits

On the good selling if the Rain-X product, the benefits will also given to my employees, the benefits are the total compensation for the employees, as much as the employees understand the product the selling would be effective, the benefits components should be made clear, that what employees going to get. Example the vacations, the sick leaves, accidents and health facilities, social security, retirement plans and private pension, could also be included in developing the benefits plans.

Expenses

I will plan to give expenses to my workers, the expenses payment is given based on, to pay weekly, monthly, yearly or approximating to one expense, which can cover the tax accordingly. The expenses are the addition to the one’s salary; the expanses could be in form of meals, canteen meals, vouchers etc. Company could achieve it target by designing the expenses effectively, foe the selling of Rain-X the expenses will be treated accordingly.

Sales Contest

It is the motivational program, that are offered based on one’s sales, for the motivation of my employees, sales contest will also part of my policy and plans, the sales contest could be of 3 types, the direct competition, the team competition and the sales. The best performer will be given reward after sales contest, example, I could give the wristwatch to the best performer.

You may also study:

Types of Economic Incentives with Examples

References:
  • Gibbs, M. (2012). Designing Incentive Plans. University of Chicago Booth School of Buisness , 30-47.
  • Marsdd. (2016). Designing the right employee incentive programs and bonus plans. Retrieved April 25, 2016, from https://www.marsdd.com/mars-library/designing-the-right-employee-incentive-programs-and-bonus-plans/
  • Rainx. (2016). Rain‑X Original Glass Water Repellent. Retrieved April 25, 2016, from https://www.rainx.com/product/glass-water-repellents-cleaners/rainx-original-glass-treatment/#.Vx2spvl97ct

Leave a Reply

Your email address will not be published. Required fields are marked *