Money motivates. It’s a simple yet powerful fact that you should use to your advantage to get more performance from your team while simultaneously putting more money in their pockets — and yours. That’s a truism Tim Huckabee of FloralStrategies shared this month in Floral Management, when he wrote about effective ways to set targets and hit sales goals using incentives.
One tactic he particularly likes? Thoughtful, easy-to-implement sales incentives.
“I am a huge fan of incentive programs but don’t like contests as they invariably pit staff members against each other and cause animosity,” Huckabee explained.
There are many creative ways to reward good performance, and here are Huckabee’s two favorites. (Psst… Both involve very little administration and are easy to launch):
- Buy low value ($5, for example) gift cards to local food and retail outlets and give those out on the spot for exemplary performance or a big sale.
- Create a team dynamic and tell your staff that the store average sale is now at $X. “If that number rises to or above $Y at the end of the month, everyone gets $X as a bonus,” Huckabee said. “If the increase goes to $Z or higher, then everyone gets $XX.”
Get additional tips from Huckabee — including advice on how to get a low-performing sales team member back on track — in the July issue.
