{"id":130,"date":"2006-06-23T09:56:58","date_gmt":"2006-06-23T14:56:58","guid":{"rendered":"http:\/\/selectmetrix.com\/blogs\/?p=130"},"modified":"2006-06-23T09:56:14","modified_gmt":"2006-06-23T14:56:14","slug":"frequency-of-rewardsincentives","status":"publish","type":"post","link":"http:\/\/selectmetrix.com\/blogs\/2006\/06\/frequency-of-rewardsincentives\/","title":{"rendered":"Frequency of Rewards\/Incentives"},"content":{"rendered":"<p>I&#8217;m not a fan of gambling, but <a href=\"http:\/\/www.careerjournal.com\/columnists\/theorypractice\/20060623-theorypractice.html?mod=RSS_Career_Journal&#038;cjrss=frontpage\" target=\"_blank\">this CareerJournal article<\/a> contains an interesting point:<\/p>\n<blockquote><p>Many newer programs incorporate elements of behavioral psychology, offering more targeted incentives for increasing sales or productivity, for example. They tend to <font color=\"#ff0000\">offer smaller rewards more frequently so that employees make a mental link between their behavior and the reward<\/font>. Ravin Jesuthasan, managing principal at consulting firm Towers Perrin, says employers are shifting to instant-recognition programs, instead of quarterly or yearly incentives.<\/p><\/blockquote>\n<p>The article is clearly based on more of a B2C selling model (banks are prominently mentioned), but as a psych major, I appreciate their Pavlovian approach to reinforcement. Reminds me of rat lab &#8211; we had to train our rat to press a lever to receive food or to avoid a shock. Don&#8217;t worry &#8211; no rats were hurt in the lab. When it was over, they were sent to the Raptor Center at the U of MN and fed to the injured birds of prey.<\/p>\n<p>It&#8217;s Friday and I am getting off topic. The frequency of the reward is an excellent topic to address in your variable compensation. The simple reinforcement for commission-only salespeople is that they are rewarded for success. In essence, you eat what you kill.<\/p>\n<p>I&#8217;m noting the carniverous tone in this post. I promise to back off the Animal Planet viewing this weekend.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>I&#8217;m not a fan of gambling, but this CareerJournal article contains an interesting point: Many newer programs incorporate elements of behavioral psychology, offering more targeted incentives for increasing sales or productivity, for example. They tend to offer smaller rewards more frequently so that employees make a mental link between their behavior and the reward. Ravin Jesuthasan, managing principal at consulting firm Towers Perrin, says employers are shifting to instant-recognition programs, instead of quarterly or yearly incentives. The article is clearly based on more of a B2C selling model (banks are prominently mentioned), but as a psych major, I appreciate their Pavlovian approach to reinforcement. Reminds me of rat lab &#8211;&hellip; <a class=\"read-more\" href=\"http:\/\/selectmetrix.com\/blogs\/2006\/06\/frequency-of-rewardsincentives\/\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"bgseo_title":"","bgseo_description":"","bgseo_robots_index":"","bgseo_robots_follow":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4],"tags":[],"class_list":["post-130","post","type-post","status-publish","format-standard","hentry","category-sales-management"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p5Oho-26","jetpack-related-posts":[{"id":71,"url":"http:\/\/selectmetrix.com\/blogs\/2006\/06\/incentives-vs-motivation\/","url_meta":{"origin":130,"position":0},"title":"Incentives vs. Motivation","author":"Derrick Moe","date":"June 1, 2006","format":false,"excerpt":"Rewarding salespeople is a tricky endeavor. Yes, most salespeople are motivated by money, but what rewards do they seek? This seems like a fine point, but motivations are different than rewards. This Selling Power article provides some examples of misaligned rewards, or incentives, that companies have thrust upon their sales\u2026","rel":"","context":"In &quot;Sales Management&quot;","block_context":{"text":"Sales Management","link":"http:\/\/selectmetrix.com\/blogs\/category\/sales-management\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":791,"url":"http:\/\/selectmetrix.com\/blogs\/2007\/03\/small-company-incentive-programs\/","url_meta":{"origin":130,"position":1},"title":"Small Company Incentive Programs","author":"Derrick Moe","date":"March 31, 2007","format":false,"excerpt":"Good article here from Selling Power's Incentives newsletter - Big Motivation at Small Companies.\u00a0 The topic is how to run effective incentive campaigns when you aren't a Fortune 500 company. Still, as a recent article in Incentive Magazine points out, smaller companies do enjoy a few incentives-related benefits compared with\u2026","rel":"","context":"In &quot;Assessing&quot;","block_context":{"text":"Assessing","link":"http:\/\/selectmetrix.com\/blogs\/category\/hiring\/assessing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":160,"url":"http:\/\/selectmetrix.com\/blogs\/2006\/07\/right-rewards-for-a-money-motivation\/","url_meta":{"origin":130,"position":2},"title":"Right Rewards for a Money Motivation","author":"Derrick Moe","date":"July 8, 2006","format":false,"excerpt":"Money motivation amongst salespeople is one of the most misconstrued points in successful sales management and hiring. At the risk of splitting hairs, motivation needs to be separated from reward. This distinction is the key to differentiating between what motivates strong salespeople - money - and what rewards them. This\u2026","rel":"","context":"In &quot;Hiring Salespeople&quot;","block_context":{"text":"Hiring Salespeople","link":"http:\/\/selectmetrix.com\/blogs\/category\/hiring\/hiring-salespeople\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2445,"url":"http:\/\/selectmetrix.com\/blogs\/2010\/10\/chipotle-rewards-and-retention\/","url_meta":{"origin":130,"position":3},"title":"Chipotle Rewards And Retention","author":"Derrick Moe","date":"October 13, 2010","format":false,"excerpt":"Retention does not seem to be a topic of great concern in this present economy.\u00a0 However, the economy will turn and hiring will accelerate.\u00a0 When this happens (hopefully sooner rather than later), retention will become a key topic for many companies. In a surprising story, CNNMoney.com provides a brief description\u2026","rel":"","context":"In &quot;Retention&quot;","block_context":{"text":"Retention","link":"http:\/\/selectmetrix.com\/blogs\/category\/retention\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":190,"url":"http:\/\/selectmetrix.com\/blogs\/2006\/07\/whether-to-use-the-stick-or-carrot\/","url_meta":{"origin":130,"position":4},"title":"Whether to Use the Stick or Carrot","author":"Derrick Moe","date":"July 26, 2006","format":false,"excerpt":"Sales&Marketing Management posts this online article - Iron-Fisted Management - regarding negative motivation. Being a psychology major, I am always drawn to these discussions. From the article: Matt McCann, district sales manager at ACSIA, a Darien, Illinois-based long-term insurance agency, agrees. \"I think [negative incentives] are counterproductive. You may see\u2026","rel":"","context":"In &quot;Sales Management&quot;","block_context":{"text":"Sales Management","link":"http:\/\/selectmetrix.com\/blogs\/category\/sales-management\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1595,"url":"http:\/\/selectmetrix.com\/blogs\/2008\/05\/managing-the-bottom-20\/","url_meta":{"origin":130,"position":5},"title":"Managing The Bottom 20%","author":"Derrick Moe","date":"May 29, 2008","format":false,"excerpt":"As a sales manager, it is easy to get caught up encouraging the top 20% and accepting the mediocre performance of the middle 60%.\u00a0 But what to do with the bottom 20%? At a minimum, the sales manager should be riding herd on the bottom 20%.\u00a0 This is a group\u2026","rel":"","context":"In &quot;Sales Management&quot;","block_context":{"text":"Sales Management","link":"http:\/\/selectmetrix.com\/blogs\/category\/sales-management\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"jetpack_featured_media_url":"","_links":{"self":[{"href":"http:\/\/selectmetrix.com\/blogs\/wp-json\/wp\/v2\/posts\/130","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/selectmetrix.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/selectmetrix.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/selectmetrix.com\/blogs\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/selectmetrix.com\/blogs\/wp-json\/wp\/v2\/comments?post=130"}],"version-history":[{"count":0,"href":"http:\/\/selectmetrix.com\/blogs\/wp-json\/wp\/v2\/posts\/130\/revisions"}],"wp:attachment":[{"href":"http:\/\/selectmetrix.com\/blogs\/wp-json\/wp\/v2\/media?parent=130"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/selectmetrix.com\/blogs\/wp-json\/wp\/v2\/categories?post=130"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/selectmetrix.com\/blogs\/wp-json\/wp\/v2\/tags?post=130"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}<!-- WP Super Cache is installed but broken. The path to wp-cache-phase1.php in wp-content/advanced-cache.php must be fixed! -->