Rewards are an important part of motivating and incentivizing your sales team to perform. Traditionally, rewards are part of your sales compensation plan in the form of a monetary incentive. However, additional incentives or rewards are sometimes needed to keep your employees motivated. Non-monetary incentives can be just as, or even more motivating for employees than those involving traditional financial rewards. It is no secret that happy companies are influenced by the company culture.
For example, employees who are given positive feedback and recognition for their work have been shown to increase work-time productivity, proactively engage with their coworkers, and convey enhanced loyalty to the company where they are employed.
Employees want to feel that their work is valued. While their sales commission structures are typically the primary motivator, that doesn’t always mean they want more money. In fact, motivated and happy employees also provide better customer service. To help motivate your employees, here are 10 non-financial rewards that can motivate your employees.
Non-Financial Sales Rewards Examples
1. Take Your Team to Lunch
Non-financial compensation doesn’t need to be fancy or lavish. The café down the street is more likely to be a much better treat than the lunch they packed from home. This also allows for time to discuss matters that are not specifically work-related.
Taking your entire team or just a couple of sales reps to lunch shows that you care about them beyond the office walls. Plus, it is a nice change of scenery –definitely better than sitting at a desk or in a cubicle all day. For millennials, all sales employees, motivation takes more than money. Afterwards, you may notice your team returns to work more refreshed and rejuvenated.
2. Throw a Small Company or Department Party
Sales reps get can stressed no matter what their role entails. When your team struggles with disengagement or are burnt out, getting them to produce quality work can be quite difficult. This is especially true when morale is low—so why not give the opportunity for some fun? (Plus here are 23 ways to improve sales team morale).
Events can make great non-financial rewards. Plan the event ahead of time, and let your team know to mark it on their calendar. Work parties offer an opportunity for coworkers to become more than just colleagues—and to relieve some work-related stress.
It also helps to boost your team's morale, which is critical to workplace success. As a result, they feel supported by their team, build bonds and enjoy work more when they realize there is some leeway for fun. Plus, a party enhances a team setting.
3. Offer Leadership Opportunities
Good sales reps and managers understand their roles and strive to produce accordingly. Yet, great team members often want the chance to go above and beyond. Have a big project coming up? Let an employee take a leadership role.
Give them guidelines for to how the project should work. Do not abandon them though. Offer your guidance throughout the project, without stealing any of their thunder. They will appreciate the mentorship and advice. Not only does it show their ability to tackle a new project but, it also shows that you value their leadership and effort.
As your team gains experience and tenure, career and leadership opportunities can play a huge role in retaining top performers—especially after the 5 year mark—when, according to Xactly Insights data, performance can start to decline.
4. Give Reps the Recognition They Deserve
Let your team know that their work is appreciated. In addition, recognition can go much further than money. Post a shout out on social media, or send a mass email to the entire company detailing their job well done. This gives employees a sense of pride and ownership over their work.
The good news is there is a ripple effect to recognition. Other employees will crave similar accolades and put forth more effort into their own work to get the desired attention and praise from management. It’s a win-win.
5. Get to Know Your Sales Team
Your sales reps make choices and sacrifices to get to work on time every single day. They also have families of their own, bills and unexpected occurrences that make life even more exciting. Certainly, they have had days where they worked while sick or missed their child’s recent game because it was scheduled during work hours. While they probably need the money, they are also there by choice.
So, you might consider getting to know them. Instead of sitting down with them to discuss business, talk to them about something deeper. This shows that you are actually interested in the people who work with and for you. The topics don’t need to be too personal. You might talk about kids, sports or hobbies. And, you may notice a positive change in their persona as a result.
6. Write a Letter
Sitting down to pen a handwritten letter conveys both respect and care. Handwritten letters are tangible and are something that the receiver can keep for years to come. They are something that employees can also proudly display on their desk or keep tucked away somewhere safe.
People would much rather receive a card that thanks them for a job well done than to see another bland email in their inbox. Grab a ‘Thank-you’ card from the store down the street and let the grateful words flow.
7. Ask for Input on Important Projects or Other Office-related Topics
Most people dislike being told what to do over and over. Instead, ask them how they think a task could be accomplished. It breaks the boundaries regarding how roles are traditionally set. It may seem like a small task, but employees will relish the chance to share their ideas and opinions. You hired them for a reason, let them shine.
8. Share Management Rewards
When a company does well, it is usually the result of a team effort. During times like these, it is important to share the wealth accordingly. If the company has exceeded their sales goals for the month, have a fun activity on hand for employees such as a sporting event outing or perhaps even a company trip. Other options include days off for jobs well done or even a spa package. Here are 10 more simple steps for motivating employees.
9. Give Top Performers More Flexibility
If sales reps consistently rise beyond expectations, it is because they spend more time than is required learning about and executing the work. These are the types of reps you want to keep. In recognition of their hard work, you might consider giving them the opportunity to work from home a few hours per week or to leave a bit earlier on a Friday.
Today's sales teams want to work from home more often because they cherish a work and life balance. Plus, there are many times when the work is complete and employees feel they are wasting time just waiting for the day to pass. Of course, the flexible work schedule can be rescinded if the quality of the work declines. On the other hand, if expectations continue to be met, then there is no reason not to let them have a more flexible schedule.
10. Provide One-on-one Time
Team meetings and group discussions are helpful. Still, nothing beats sitting down with the boss to discuss matters that are truly relevant to the employee. Taking time out of the day to schedule time for one-on-one meetings shows employees that you value their time and input.
During these sessions, you can discuss both short-term and long-term goals, as well as how you can help them reach their objectives. Employees are more loyal to companies when they feel their goals are supported. Again, this is something money can’t buy.
Taking Non-Financial Sales Rewards Further
Rewards to motivate employees do not always have to involve monetary incentives. There are many interesting, memorable, and creative non-monetary incentives that can act as motivational tools to increase and stabilize rep engagement and loyalty. Taking the time to understand their needs and goals is the first step towards planning the right form of recognition.
Sales rewards of all kinds encourage every person on your team to stay with the company to build their careers. Plus, the right types of rewards can help to reduce costly turnover. When your sales team is satisfied and happy, they perform better and you achieve more growth—which is a win-win for everyone.
Want to learn more about how you can motivate and incentivize reps successfully as they gain tenure? Download our guide, "How to Build and Retain Sales Reps to Drive Top Performance."