Thought Leadership
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Article
The power of personalized goals
Goals give us purpose and a path forward. They also affect the intensity of our actions and emotions, according to Locke and Gary Latham’s research. In business, having goals increases employee motivation and organizational commitment. One way to get the most out of the goals your team is working towards is to personalize them. When […]
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Designing successful sales incentives
Competitiveness is hard-wired in most salespeople. If you’re able to add a compelling sales incentive structure that ties in relevant rewards, you’ll see that excitement grow exponentially. The challenge with sales motivation isn’t as simple as choosing a desired outcome (like increased calls or higher conversion percentages) and promising an award to the winner. To effectively motivate reps, there […]
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How much should you spend on SPIFFs?
A SPIFF, also known as a Sales Performance Incentive Fund (sometimes written as SPIF or SPIV), represents a unique incentive program. In this setup, salespeople receive a discreet bonus for successfully closing a sale or scheduling a demo. Unlike conventional sales incentives, SPIFFs often come with a cash value. Currently, the prevalent method of delivering […]
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Cash vs. non-cash incentives
Do cash incentives work better than non-cash incentives? On the surface, it’s a relatively simple, straightforward question but in truth, it’s one of the great debates in the field of sales compensation plans — and one that requires a remarkably complex and nuanced answer. We recently hosted a webinar on this cash vs. non-cash rewards topic featuring […]
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6 Ways to Modernize Employee Rewards and Recognition
Every time one of us succeeds at something — anything — our nerve cells release a chemical called dopamine, which stimulates the reward centre of our brain. It feels good! When you recognize a peer, it produces a double-dopamine rush: doing the behaviour feels great — and being recognized for it does, too. The Modern […]
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Recognition for the hybrid workforce
What is a hybrid workforce? Most of us think of a hybrid workforce as a group of employees who can work from their company’s workplace as well as remotely. However, what we realized from working with our clients these past 18 months is that a hybrid workforce is more diversified than we originally thought. […]
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Sales contests guide
Successful sales contests include three critical elements: goal setting, emotional commitment, and focus. These elements will serve as the foundation for both short-term and long-term programs that will ultimately help you engage your sales reps to achieve your business objectives. Explore our guide to learn best practices to follow when designing your next incentive program. […]
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Rethinking the rebate
However, rebates have become ubiquitous in the channel and are not impactful in capturing the attention of channel partners or differentiating your business and products from the competition. Often rebates are hastily implemented as a reaction to a competitor’s offer of a rebate for a similar product at a lower price. What if your competitor’s […]
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How do you win with incentives?
With incentives, it starts with: “Why would you do one in the first place?” We all like to win, we all like to feel appreciated for the effort we put forward, and we all like to be rewarded. It’s called the “dopamine effect” — the rush we get when something good happens to us. You might ask, […]