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Incentives & Reward Schemes

Well-planned incentive and reward schemes can be an extremely powerful means of generating new customers and maximizing sales from existing ones. Whether you wish to incentivise your own people, reward your customers for their loyalty, or generate new customers from referrals, Visible can design and deliver effective solutions.

Whether employed in conjunction with training or one-to-one coaching or introduced as ‘stand-alone’ solutions, reward schemes based on the principles of “Performance Improvement” can be extremely powerful levers towards increased turnover.

“PI”, as those in the know call it, is the furthest from just another fluffy, feel-good HR programme that you can possibly get. It comes in four stages; research/setting benchmarks, skills assessment, communication and an appropriate choice of incentive, usually non-cash. The principle is simple. Set a performance standard, tell people what it is, reward participants for compliance…and then start again with a slightly higher base-line. It’s what all managers should do with their teams as a given but very few actually achieve. The exciting part is that these techniques have been tried and tested within sales and distribution for over 50 years and have worked well. ROI of between 10% and 50% are not uncommon for such schemes within the sales environment and now it is the employees’ turn to get rewarded for a job well done.

The aims of any incentive and reward scheme are to maximise the results for the business, in terms of increased sales and profits. Visible offer our clients assistance in the motivation and management of their sales people through the design and implementation of remuneration schemes that are designed to deliver results - by putting in place targeted bonus structures that ensure that your team are all pulling in the same direction.

 

 

 

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