Rewarding and Recognizing Top-Performing Sales People: Keys to Program Success

STUDY OVERVIEW

Sales leaders and organizations that regularly meet and exceed revenue targets have mastered the art of motivating their sales representatives. Organizations that desire to recruit and retain top sales personnel can use the findings in this study to determine strategies and best practices for understanding and engaging top-performing sales personnel. This study was undertaken utilizing key benchmark metrics and executive insights to assess current trends and future directions of rewards and recognition programs targeting top-performing sales representatives.

KEY TOPICS

• Incentives for Driving Sales Performance
• Incentive Program Investment
• Incentive Program Excellence
• Planning Successful Communications
• Measuring Incentive Program Success

• Sales Personnel Turnover Rates
• Top-Tier Incentives Provided
• Top-Tier Incentive Expenditures
• Travel Reward Incentive Values
• Cash Reward Incentive Values
• Incentive Values of Points/Vouchers and Gifts/Prizes
• Second-Tier Incentive Values
• Second-Tier Incentive Expenditures
• Effectiveness of Premium Travel
• Effectiveness of "Other" Travel Incentives
• Free Time Versus Planned Activities in Incentive Travel
• Management Interaction in Incentive Travel
• Accompaniment for Incentive Travel
• Alternatives to Incentive Travel
• Effectiveness of Cash & Voucher Incentives
• Duration to Measure Incentive Program Effectiveness
• Frequency of Incentive Program Communications
• Modes of Incentive Program Communications
• Rewards & Recognition Program Budgets
• Rewards & Recognition Program Staffing

• Incentive travel is perceived to have a greater impact on long-term performance and retention than cash alternatives
• Programs targeting top sales personnel often fail to effectively motivate the majority of the sales force
• On average, companies in the benchmark class spend about $13K per year on incentives for each employee in the top 5 percent of sales personnel versus an average spend of approximately $12K for the large pharma segment
  

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