If your business relies on sales, you need the best professionals for the job. Of course, your employees will need to be paid accordingly. Therefore, you must consider your ongoing sales compensation strategy and be ready to make changes if needed. Here are some signs your company needs a new sales compensation strategy.

1. Recruitment

One of the main aspects of any business is recruiting the best talent you can find. According to the U.S. Small Business Association Office of Advocacy, there are 33,185,550 small businesses in the United States. If you have a small sales firm, you have many other businesses to compete with when you’re trying to get the best workers. If you find it hard to recruit the best people, it may be due to your sales compensation strategy. After all, if other companies are offering better packages, it’s no shock when top candidates want to go to other places.

2. Low Performance

What is the overall performance of your existing salespeople? Does their performance seem to get lower and lower or remain stagnant? Consistently low performance may be a sign your crew simply isn’t motivated to work that hard anymore. After all, if they feel that there’s little incentive when they do make a sale, they may be less likely to go above and beyond to increase their performance.

3. High Turnover Rates

A high turnover rate is the last thing any company wants. When people keep leaving your company, one of the main reasons is either due to poor treatment or compensation. Review your turnover rate for the past couple of years and see if you notice any patterns. It’s highly unlikely people would leave a company where they’re getting a high compensation for sales or if they feel that there’s room for growth in their position.

Do you care about having a successful business? If so, you need to ensure you have people you can rely on to stick around for the long haul. Just remember that your salespeople aren’t working for free. They want fair payment for their efforts, and you can’t blame them. Take a cold, hard look at your existing sales compensation strategy to see where such changes could be made. For further information, contact our experienced team at Double Loop Performance today. We can help you turn your company around to create a better sales payout that can please existing and incoming employees.