In a BLR webinar entitled "Sales Compensation Strategies: How to Motivate and Re-Energize Your Sales Staff in a Challenging Economy," Dan Kleinman, principal of Dan Kleinman Consulting, a compensation and human resource consulting firm, encouraged the use of rewards, outside of actual sales, to acknowledge cost reduction actions.
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- Maximizing all sales channels
- Reducing travel expenses
- Negotiating better terms with low-margin, high-volume clients
- Timing closes to fit production schedules
- Selling product in stock
- Minimizing special deals and related customization
Additionally, time payments for the best overall impact for the company and its crew:
- Pay, at least partially, when dollars are received rather then when sale is booked or shipped.
- Avoid paying residuals (annuities) unless real selling is taking place.
- Don't pay a premium for ticket-taking.
Dan Kleinman is the principal of Dan Kleinman Consulting, a California-based compensation and human resource consulting firm. For the past 18 years, he has served as an independent consultant for a broad spectrum of regional, national, and international companies, providing compensation, performance, organizational planning, and reward-system design services. He may be reached at info@dankleinmanconsulting.com