Posted by Jason McCallum on Wed, Feb 22, 2012 @ 09:05 AM
A recently released
study by the Arberdeen Group highlights how "Best in Class" companies are more than twice as likely than all other companies to provide non cash incentives. Organizations who provide non cash rewards and recognition to their sales professionals had a 23.1 % average year over year growth in corporate revenue vs.7.2% for industry average companies. So how did these companies in the study acheive a 15.9% difference in year over year growth compared to their competitors? The answer is by providing a measurable benefits and reward system with non cash rewards and recogntion for their sales professionals that is supported and communicated at all levels of the organization. Sales professionals will view cash rewards as part of their compensation. Rewards and recogntion programs provide performance enhancement opportunities in a way that payroll-based incentives cannot and in turn grow your bottom line and make your company Best in Class.
