Episode 99: How Can You Design a Remuneration Package that Motivates Your Team

Stronger Sales Teams with Ben Wright

In this episode of Stronger Sales Teams, Ben Wright shares his insights on creating sales incentive programs that really work. With years of experience working with startups, fast-growing businesses, and established companies, he offers practical tips on designing pay strategies that align with company goals, boost team morale, and deliver outstanding sales results. This episode is a goldmine of advice on shaping sales incentive structures for businesses at any stage – whether you’re just starting out, in the growth phase, or fully established.

Key Takeaways:

• Startups, growth-phase, and mature businesses should each design remuneration packages that reflect their specific needs and growth stages, balancing base salaries, commissions, and bonuses.
• Sales compensation should weigh both revenue and gross margin growth, particularly in growth and mature businesses, ensuring compensation drives both short-term and long-term value.
• Offering uncapped commissions in growth-oriented environments can attract top sales talent and incentivize exceptional performance.
• As businesses mature, shifting focus to non-monetary benefits like career progression and unique perks can be vital to retaining top sales talent.
• Recognizing different sales roles and competencies allows for flexibility in pay structures, enabling businesses to attract and retain high performers or “career gorillas.”

Time Stamps:

0:00 Intro

1:58 Types of Business Framworks In Rumeneration Strategies

3:30 For Star Up Business

6:50 For Growth Driven Businesses

12:35 For Mature Businesses

16:00 Other Frameworks

22:24 Recap

23:18 Outro

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