- a business tool used to motivate and compensate a sales professional or sales agent to meet goals or metrics over a specific period of time, usually broken into a plan for a fiscal quarter or fiscal year.
A sales incentive program is a plan or strategy that motivates salespeople to surpass status-quo performance metrics. A sales incentive programs may use non-cash incentive rewards, cash-based sales performance incentive funds (SPIFFs), or both.
Step-by-step explanation:
Sales incentives have been proven to boost employee engagement: One study by the Incentive Research Foundation found that when an incentive program is built correctly, it can increase performance by up to 44%.
Answers & Comments
Sales Incentive Plan (SIP)
- a business tool used to motivate and compensate a sales professional or sales agent to meet goals or metrics over a specific period of time, usually broken into a plan for a fiscal quarter or fiscal year.
Answer:
A sales incentive program is a plan or strategy that motivates salespeople to surpass status-quo performance metrics. A sales incentive programs may use non-cash incentive rewards, cash-based sales performance incentive funds (SPIFFs), or both.
Step-by-step explanation:
Sales incentives have been proven to boost employee engagement: One study by the Incentive Research Foundation found that when an incentive program is built correctly, it can increase performance by up to 44%.
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