I think every employee especially sales persons all focus on 3 main things at work: income;incentive and self development. To a certain extent,a sales team can represent a company's value ,culture or branding. this part of people are so though to handle , So motivation strategies can really drive them and help company to get win-win .
Today's class case is between 2 real estate company JB Miller and Bond Properties. 2 famous Real Estate company in America, we have a huge discussion about their Motivation strategies:
All the discussions were base on a assumption that :The average house sales in America is US$120k
lets look at these 2 company's incentive strategies :JB Miller
Each year JB Miller recruited dozens of real estate agents to work in BJ Miller’s network of over 100 offices across the San Francisco Bay area.
Each sales person received a base salary of US$24k/year plus a commission based on sales volume. JB Miller’s monthly bonus system was based on the following:
Target A: Sales of US$100k – receive US$2k
Target B: Sales of US$250k – receive US$4k
Target C: Sales of US$500k – receive US$10k
The company and the board was focused on sales. besides above they also had some spacial extra incentive plan to the top sales:
Each year the company invited top sales people to an offsite in Las Vegas
in 2004 instituted a “Gold Key” club through which the top sales people in each region each month would be admitted to the club – they would receive certain dinners, be listed on plaques and would have a gold key on their name cards.
Bond Properties
Bond Properties less focused on motivational trips or clubs, Bond’s attracted sales staff through a simple compensation system.
Bonds paid an annual base of US$35k plus a straight bonus of 4% of any home sold.
Actually these two strategies all have pros and cons, JB Miller's bonus parabola is steeper than Bond Properties, it means that you will feel stable in Bond properties, and face more big challenges in JB Miller, for instance, for the month bonus, if you sale less than 3 houses a month , than be a Bond Properties' stuff will earn more than JbMiller, if you can sale more than 4 house a month , you will get higher bones as a JBMiller's stuff.
For me , I rather prefer JB Miller's strategies but make some changes:
1.I will put more percentages bonus to the Target B sales, because just few people can be the top, your main business will from this middle area.
2. I will keep it's top 10 sales incentive programme but add some self development project and health or family benefit .
3.Also, I will have another incentive project for the most 10 top potential sales, although their sales volumes are not so much at the beginning , but they have passion , have some potential qualities to be the top sales, so I will give them more training and chance to let them feel be care``````
Lots discussion in our class, finally in the group discussion part, I was voted again to be our group's presenter , I feel proud that every time they vote me to speak and present in front of our class, it is a chance to practise my speaking English and my dialectic logic thinking,I really treasure this and will keep attend this class, to improve my Business case analysis skill .
