GLT LTD NEEDS INCENTIVES FOR THEIR EMPLOYEES TO MOTIVATE THEMSELVE

Sales Incentive Ideas

Implement Personal SPIFs

Because motivation is so specific to the individual, I use personal SPIFs in addition to team-wide
contests. Let's say I notice one of my reps seems disengaged. They're still hitting their quota, but
their body language and tone-of-voice suggest they're not as enthusiastic as they used to be.

Cash Rewards
If cash wasn't an appealing sales incentive, it wouldn't be the basis of commissions and
compensation. At the end of the day, money is always a motivator. When it comes to SPIFs and
rewards outside of your compensation plan, the main goal is to ensure that the cash incentive is
compelling and encourages sales reps to focus on a specific goal.

Gift Cards: These are probably the most common non-cash incentives. While gift cards are still
technically monetary incentives, they give reps a physical prize to strive for. You can add a little more
creativity to this incentive by giving reps the freedom to select the gift card they want.

Fine Dining Experience: A reservation at a popular restaurant that's difficult to get into often works
well as a team incentive, but it also could be effective for individual reps. If possible, get reps input
beforehand to provide a few different restaurant options.

Entertainment Tickets: Entertainment incentives, such as sporting events, ballet tickets, or off-
broadway shows, can be a popular incentive for reps to get away from the office. You can also
consider offering the option for the winner to attend an out-of-town event, and take care of their
travel and lodging, too.

Tech Gadgets: Popular tech gadgets, such as tablets and smart watches make great incentives. You
can allow reps to customize color or functionality.

President's Club: While the president's club is often an incentive for all sales reps to work towards, it
can make a great incentive for non-sales employees. Let's be honest—everyone loves a free, all-
expenses-paid trip!

Preferred Parking: Who can forget that scene in Office Space where Peter parks in Lumbergh’s
reserved parking space, resulting in Lumbergh later getting his car towed for using a handicap space!
The long and the short of it is: there is no VIP statement like a reserved parking spot.

Spa Day, Round of Golf, or Other Activity: Some of your sales team members might enjoy a day at
the spa, while others would rather be out swinging clubs. Others might enjoy something else
entirely, so do your best to get to the bottom of what will really drive your people to earn a day out
of the office.
Employee’s Choice: Think about your primary goal here—to motivate your sales team to work
harder and smarter on their way to closing more deals. With that being case, why not just give them
their choice of perks, within reason, of course!

Wine Club Membership: Have a wine lover on your team? How about a beer lover? Actually, these
days, you can probably find a subscription service for any interest. Take inventory of your team's
likes (and dislikes) and see if you can't find the perfect match.

Travel Vouchers for a Weekend Getaway: Traveling to a new destination is always thrilling, and
tough to beat... unless you're given the option to do so at the expense of someone else. Treat your
top performers to the likes of a weekend trip or go bigger and set them up with a weeklong cruise.

Learning Opportunities: Many companies provide opportunities for employees to attend classes,
seminars, etc. to learn more about their specific craft. The problem is: not every city is considered a
hub for such activity. So, look for ways to get your people to larger, high-profile conferences in
neighboring states or across the country.

Lunch with Executives: For some, the ultimate reward is being publicly recognized by their peers.
Lunch with the CEO is a nice option because it offers such recognition, and allows the winner to pick
the brain of your company’s leader.

Subscription Boxes: Subscription services like HelloFresh, Book of the Month, and Stitch Fix are all
the rage right now. You could offer reps a 6-month or year-long subscription. Again, you can
personalize this to the rep's choice, allowing them to take in some personal hobby time outside the
office.

A Gym Membership: Many of today's employees strive for a healthy work-life balance, which often
includes a way to get out, exercise, and be healthy. Offering your reps a gym membership, whether
it's the gym down the road, or a subscription service like Class Pass or Orange Theory, you're
encouraging your team to get out and be active!

Culinary Classes: From pasta to brew making, there are a number of budding Chopped Champions
out there. Appeal to their culinary spirit with a series of cooking lessons. Many local restaurants offer
cooking classes, allowing attendees to pick their meals and bring friends to share with. Check around
your teams' favorite food spots!

Extreme Adventures: According to a recent study from the Incentive Research Foundation, the top
“wow” incentive amongst millennial employees was “adventure activities," such as hiking and
extreme sports. These workers are looking for unforgettable experiences—not just goods, so why
not treat them to the adventure of a lifetime, such as skydiving or rock climbing

QUESTION2

compensation plan for the sales people

. Salary plus Commission

Salary plus commission sales compensation plans are possibly the most common plans used today.
They’re structured in a way that sales people receive a lower base salary along with commission
pay that makes up the majority of the total compensation.
Organizations use salary plus commission sales compensation plans when there are opportunities
to support all sales people on this structure and when there are proper metrics in place for
tracking sales to ensure that the splits are fair and accurate.

This type of plan is often the better choice as opposed to straight salary because it offers
motivation to increase productivity and to achieve goals. It also offers more stability—sales people
will still get some type of pay even if they’re in training, when sales are low during certain months,
or if market conditions get volatile. However, it can be more complex to administer. Territory
Volume

Territory volume sales compensation plans are most often used in team-based corporate cultures.
They work through the calculation of territory volume at the end a compensation period. The total
sales for the territory are then split equally among all of the sales reps who worked that territory.
This plan works best when your sales territories are clearly outlined, when your sales team
supports each other to reach common goals, and when your territories are rich enough to support
competitive wages.

5. Profit Margin

Last but not least, we have profit margin sales compensation plans. These plans compensate sales
people based on how well the company is performing. Profit margin plans are most often used by
startups that have a lack of liquidity. It’s best to use the profit margin plan if you know that your
sales people are able to support themselves through your lean periods, when you can also
incorporate long-term incentives such as stock shares, and when you have other incentives and
job benefits to attract sales people, such as flex time.