Lee Salz is a Featured Columnist for The Business Journals.
In a keynote speech I deliver on hiring, onboarding and compensating world-class salesforces, I ask the audience members if they know a business owner’s favorite day of the month. While they shout out a myriad of answers, no one ever guesses the correct one.
After a few moments, I share the answer… salesperson pay days. That leaves a puzzled expression on the faces of my audience. Perhaps, your eyebrow is raised as well. Allow me to explain.
Taking a step back, what is the primary purpose of having salespeople? It’s to bring in revenue. Given that, why wouldn’t an executive be smiling from ear to ear when writing those checks?
The common answer is that the sales compensation plan isn’t designed properly. If you aren’t thrilled to pay the salespeople, take a close look at the structure of your compensation plan.