Has your company started planning for 2017 sales compensation and its impact on recruiting?
Although some companies are planning significant increases to sales base salaries in 2017, most employers are projecting lower increases compared to 2016 according to the Economic Research Institute (ERI), an organization that provides compensation information. In addition, some employers are planning to eliminate increases in base salaries in favor of non-recurring incentives for individual performance, such as quarterly and annual bonuses. This conflict in sales compensation projections mirrors the conflict in total 2017 compensation projections. (Please see CNI Recruiting’s post “2017 Salary Projections and Recruiting“.) Not surprisingly, most sales professionals continue to favor annual increases in base salaries.
Non Financial Compensation
As expected, financial compensation continues to be the leading motivator for sales personnel. According to a recent study by the Aberdeen Group, a research organization dedicated to improved business performance, the following are significant non-financial motivators, in order of priority: Recognition of positive performance, employer efforts to align employee values with company values, professional skills training, and opportunities for promotion. Others may be found in the above referenced article.