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Tailoring sales remuneration to attract the right candidate
(Part 1)
The advert says “Earn up to $100K” or the headline reads, “$70K plus commission plus benefits”. Base commission plus benefits or salary? It’s a double-edged sword for both employers and job-seekers who find themselves wondering which way to go.
Before you draw the line in the sand and decide one or the other, it’s important to stand back and consider the personality type of the candidate (if you are the employer); and do a self-assessment on the type of salesperson you have been, and are likely to be in the future (if you are the job-seeker).
What really motivates sales people?
Key motivators are highly important factors to help you balance the pros and cons of salary versus commission based remuneration. There are two important characteristics of salespeople:
1. one who aims for long-term relationships;
2. the other who aims for long-term compensation.
This suggests that there are serious implications for structuring reward systems and potential tools for recruiting, selection and assignment of salespeople based on these characteristics.
There has been years of research on the subject, and countless dollars spent trying to figure out what compensation structure encourages peak sales performance and the answer seems to be “it depends.”
It depends on the market, your product or service, and the personality of your sales professional.
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