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Need More Sales? Establish Quotas, Compensation Packages

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It may seem obvious, but setting quotas for the sales team is the best way to grow your company’s revenue. Yet less than 50 percent of middle market companies establish quotas and compensate accordingly, says the National Center for the Middle Market (NCMM) at Ohio State University.

The center found that companies with sales quotas produced revenue gains by more than 10% compared to slower-growing organizations.

While you, the entrepreneurial head of the company, may dread the thought of committing to a sales structure, your salespeople will perform better if expectations are set and clearly communicated. This requires not only sales quotas but also a well-designed compensation program.

Here are some tips on getting sales quotas and sales compensation right. [Read more…]

Why On-Site Medical Care Is Good For Business

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Your assistant has a cough that won’t go away but keeps putting off going to the doctor. Your HR manager needs half a day off to get her annual physical. Another employee wants to check to make sure his new medication is controlling his blood pressure properly.

Each of these scenarios take place in businesses across America every day, and each doctor visit means several hours off work and pricey office visits, maybe even ER visits. That coughing assistant could be infecting others as well as getting sicker herself.

Think on-site health care is too expensive for your mid-sized business? It may be time to change your thinking. Many medium-sized businesses are using on-site wellness programs to differentiate themselves from other employers – and keep their workforce healthier while lowering expenses. [Read more…]

One Thing That Will Make You More Attractive When Recruiting Top Talent

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When you’re searching for the ideal employee  – a person that has the smarts, knowledge, and talent to take your business to the next level – you also need to consider what potential hires will be looking for in their future employer. Without knowing what they desire in a new job, you will be challenged when enticing them to work for you.

Sure, employees want the highest salary possible. But beyond that, what’s most important? The answer will vary from person to person, but recent data indicates that one thing can separate you from the rest of the pack: your company’s retirement benefits. Retirement benefits as used in this article include 401Ks, cash balance plans, and profit sharing plans. [Read more…]