The great resignation is real and it’s happening at a rate much faster than companies can hope to manage. Thousands of employees are eyeing opportunities and organizations need to adapt fast. Companies that cannot find battle-ready replacements are left reeling. The remaining employees face the burden of extra workload and low productivity.
The scenario in sales is no different. Losing talent here can have the strongest consequences because sales are built on trust, transparency, and relationships. And building trust and relationships take a lot of investment in time and effort. As companies rush to reimagine and refurbish their sales talent pool, the really smart ones are investing in employee happiness and development. They add a layer of transparency, a dash of simplicity, a dose of opportunities and furnish it with rich rewards for the right work.
It is time for employers to take the bold route and use technology to improve their relationships with sales professionals. Let us explain how.
Automating the commission payout process helps strengthen the bond between a company and its sales team.
A transparent system allows more visibility and adds trust
Gifting your company with centralized compensation software gives both the sales representative and the company any-time access to goals, commissions, feedback, and performance among other things.
This gives the sales professionals the numbers they need at regular intervals and pushes them to focus their efforts on meeting their goals.
A transparent, accessible commission calculation process and the lack of manual intervention mean the sales representatives know there is the truth behind the numbers they see. The trust factor gets better with automated payments assuring your employees that the payouts will be accurate and punctual.
Focus on value creation
Any time that is not spent on value creation in sales is time and sales opportunities lost. When sales representatives spend time on mundane and repetitive tasks - logging in their efforts, calculating their commissions, checking the accuracy of their commissions, calibrating goals, etc. - they are losing out on opportunities to meaningfully engage with their clients.
A Sales Compensation Management (SCM) platform sets the sales representatives free by taking the aforementioned tasks out of their hands. It allows them to focus their efforts on actually adding value and gives a renewed sense of purpose to their roles.
An error-free ecosystem
Manual sales logging and compensation calculation and management are prone to errors that are often invisible to the human eye. It takes more people, time, and money to weed out these errors. More damagingly, errors during compensation could have a domino effect that leads to your star sales representatives feeling disillusioned and uncared for.
Automation is an easy, efficient alternative. It ensures accuracy throughout the sales process and eliminates errors. It completely removes the concept of bias and ensures a fair, accurate payout every time.
No micromanagement
Whether as a sales representative or a manager, micromanaging takes its toll in the long run. And everyone knows having someone constantly watching from behind your back not only curbs the drive within but also clips your wings.
Automation allows both the representative and the manager to function without any inhibitions. The manager gets timely reports on performances, records, and the history of the team regularly. The representative benefits from data inputs regarding his/her compensation, payouts, goals, and feedback.
This helps transform managers into leaders who can inspire sales representatives into motivated and creative employees. It also promotes a culture of trust and innovation, giving the sales staff another reason to stay back.
Access to data and insights
There is no shortcut to success, but there are highways that can speed up the journey. The key to that is learning.
Empowering your sales representatives with the power of data and insights opens up a world of opportunities for them. Regular reports on performance, historical data, company data, region data, etc. give the sales rep detailed insights. These resources can help make the difference between failure and success.
Automation allows companies to set up sales reps with regular reports and insights to view and better their performances, eventually improving their own sales records and compensations. This gives the company a higher chance of retaining top talent.
According to a McKinsey report, more than 19 million US workers have quit their jobs since April 2021. Unfortunately, companies are scurrying to find quick fixes to this problem.
Beat the Great Resignation - Automate your commission payment processes
The need of the hour, however, is to make your employees feel valued and trusted. By empowering your compensation payment process with automation, your sales reps will have the advantage of transparency, accuracy, development, and trust. Investing in an automated platform will also reduce administration time and enhance your employee experience.
Blitz is the commission management software that will help you automate processes and ramp up your business productivity. Give your business the Blitz advantage and ensure a happy, productive, and efficient sales team.