Benefits for Sales Reps: To Pay or Not to Pay?
Should you give your sales representatives benefits? It's a contentious question, and one that different companies answer very differently. Many companies believe that giving benefits to employees they may view as relatively expendable or likely to quit doesn't make sense.
While the anti-benefit argument may seem logical on the surface, here's how giving your sales representatives benefits can help your company attract better sales professionals, retain them longer, build morale, and get better, more consistent sales results.
Make the Job Attractive
One of the primary challenges for any sales department is attracting a sufficient number of quality candidates to build a strong sales team. When you're unable to locate enough applicants for your open positions, you may struggle with maintaining headcount, or even resort to hiring candidates with less experience and fewer skills than they really need to succeed at the job. So anything you can do to make a job more attractive to potential applicants is worth considering.
For prospective employees, a job that offers benefits will be much more attractive than a job that doesn't. Not only do they actually want the benefits, but offering benefits also signals to them that your company is serious about respecting and valuing its employees. Offering benefits lets job candidates know that this is a legitimate position that won't evaporate tomorrow. There's nothing sales professionals hate worse than a job that will "give anyone a chance," but is such a terrible job that nobody really has a chance at succeeding and making money.
Keep Them Around
Just as offering benefits can help you attract experienced and professional sales representatives, those same benefits can help them stay at the job long-term. Most people want a good, stable job that they can stay at and support themselves and possibly their families. Things like health insurance and retirement planning are important in long-term career strategy. If you aren't offering those things, you run the risk of turning your sales team into a revolving door and making it impossible to maintain headcount or sales team morale.
Offering benefits to your sales representatives encourages them to think of the position as a a permanent one, and not just a step on the way to a better job tomorrow. If benefits aren't available at your company, they might keep working there for awhile, but they will have their eyes open for a better position at another company. If you don't offer them benefits, someone else will.
Build Morale and Value
How your sales representatives feel about your company has a huge influence on how they portray your company to potential customers. It can be very difficult to build morale for a sales team that does not feel like a valued and well-treated part of your company. A sales team that gets benefits is more likely to see itself as an integral part of the company, and really take ownership of the brand.
As a company, your employees are some of your greatest assets. The way you treat them will translate directly into they way they will treat your customers. Encourage quality brand representation by offering your sales representatives benefits and giving them a reason to tell your customers that your company is awesome.
Not Sure How to Implement Benefits?
Here at Netpique sales outsourcing, we help companies with all aspects of running a successful sales team, including compensation design and benefit packages, recruiting, and sales training. We offer free consultations and would be happy to help you determine what type of compensation and benefits package would be most effective in attracting and retaining the type of sales representatives you want. Contact Netpique sales outsourcing today!