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Need More Sales? Establish Quotas, Compensation Packages

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increase sales establish quotas compensation

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…]

7+ Science-Based Things Every Boss Needs To Know About Happiness At Work [Infographic]

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Being happy at work isn’t just about work. People that are satisfied with their lives all around are more likely to be happy at work. And productivity is positively influenced by good moods, with happy workers being 31% more productive than unhappy ones, according to an infographic from Happify, a company that uses science and technology to empower people to lead happier lives.

This information is nothing new, but we always need a little nudge every now and then to remind us to review, reflect, and improve our workplace practices to ensure we’re setting our employees and our companies up for success. [Read more…]

Three Tips for Spotting Rising Stars in Your Company

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You’ve already hired the most promising job candidates using your list of non-negotiables to weed out the bad hires for your entry-level positions. A few months pass. You’re happy with the hiring decisions, and your newer employees appear satisfied as well. You’ve successfully completed the first hurdle to building a great team. Congrats!

But what’s happens next?

Do you have a process in place to identify and reward those rising stars to increase your chances that they stay on your team? If not, you could lose a future leader and not even know it. [Read more…]

How To Use Analytics To Create A Rock Star Sales Team

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recruiting-hiring-predictive-analytic-toolsAnalytics – while sometimes overwhelming – play an important role in the marketing sphere of a business. It’s easy to look at online ads, identify the ones that have the highest click-through rate, and create more ads like them. However, not all divisions in the corporate world are accustomed to leveraging analytics nor do all departments have data that would be helpful.

One area that doesn’t incorporate analytics is recruiting and human resources. According to Deloitte’s Global Human Capital Trends 2014 report, 86 percent of human resources professionals don’t use analytics at all. But that’s changing. [Read more…]