Money isn't everything

Traditional monetary incentives are often not enough to ensure peak performance, let alone loyalty, from top performers. This realization translates with particular importance into sales, where motivation has to be built into compensation programs. A recent poll of salespeople indicated that increas...

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Bibliographic Details
Published in:Sales & marketing management 1991-05, Vol.143 (5), p.10
Main Authors: Greenberg, Jeanne, Greenberg, Herb
Format: Magazinearticle
Language:English
Subjects:
Analysis
Beliefs, opinions and attitudes
Compensation plans
Economic aspects
Effectiveness
Employee motivation
Employment
Evaluation
Factors
Goal setting
Human resource management
Incentives (Business)
Methods
Motivation
Personal development
Productivity incentives
Professional development
Sales management
Sales managers
Sales personnel
Salespeople
Wages & salaries
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Summary:Traditional monetary incentives are often not enough to ensure peak performance, let alone loyalty, from top performers. This realization translates with particular importance into sales, where motivation has to be built into compensation programs. A recent poll of salespeople indicated that increased compensation was the least commonly cited reason for their changing companies. The most effective managers are those who understand how each salesperson is motivated. Knowing this, they can develop individual compensatory incentive approaches that address the inner motivations of each of their key people. For instance, salespeople motivated to control usually also want to direct the activities of others in their company. Perhaps the most important type of emotional need is that of personal development. One way of bringing new interest to a seasoned salesperson's career is to enlist the salesperson's expertise in a mentorship program.
ISSN:0163-7517
1943-7250