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Compensation
According to marketing manager of WCCL, The Company provides the reward based on kind of work each member performs and they were rated annually. The organizations compensate is tied with the performance of the sales force. The compensation is called the bonus and Performance Based Allowance. At the end of the year all the sales force shall be rated against their performance and based on it the bonus and PBVA shall be awarded. Apart from that WCCL, a policy for awarding incentives to the Sales Team where the employees under sales receives incentive for achieving over and above every monthly sales target. The sales force team of the business is given different types of compensation like:
1. Voucher Allowance
Being as a sales force of the company, their main duty is not only to sale the product but also to communicate with the different customers. For that purpose WCCL company give voucher allowance to the sales force team of the company and this makes smooth communication with company.
2. Yearly Bonus
According to wood crafts center limited annual reports (2019), it states that the company is providing the yearly bonus which is more than their monthly salary.
3. Daily Subsistence Allowance
When the sales force teams are send to different places for business purpose, WCCL company has system of providing the daily subsistence allowance (DSA) as motivating factor to work.
Motivation
Motivation is essential for any companies as motivated employees will be able to bring creativity, effectiveness, efficiency and most importantly will be commited. There are numerous ways to motivate the people working and following are some of the ways WCCL takes to encourage its sales team:
1. Training
Working people often become more motivated when they understand how their works matters. The WCCL company, particularly provide the training to the employees in different field to improve work quality and outcomes. As a result, employees feel happier in their work, become more excited about the prospect of success and develop a higher self worth.
2. Incentives
Employees of different companies like to feel appreciated and known for good work. In order to motivate the sales force team of WCCL, incentives are one way to show them that good work garners rewards. The WCCL Company mainly gives incentives to the staff to encourage them to work hard and grow. Incentives are the one way where the WCCL Company motivates the employees.
3. Promotions
It is also one of the factors that are used by the WCCL Company to motivate the employees in the company. When the employees were promoted, that built satisfaction in their mind and attempt to work harder in than before by demonstrating their supervisory and leadership skills. When they show their interest to the job that brings a light in the companys performance and improve outcomes.
4. Offering Bonus
The company offers bonus to the employees to develop their way of performing to meet business goals. The WCCL Company provides the employees with cash and non cash bonus such as holiday bonus, commission, profit sharing bonus and non cash bonus like awards and honors. The company mainly provides bonus to the employees to improve productivity and in order to raise profits to the company. However, providing bonus really helps to improves or motivates the workers in the company.
5. By raising payments
The WCCL Company is very creative enough to make the employees of organization motivated by using different technique. One of the most technique used by the WCCL company is they usually increase the payment of the workers annually. Every year WCCL company keeps on increasing the salary by 2% of their basic salary, this accelerate the energy of the workers and brings performance at the top.
Reference
- B, R. (n.d.). Types of Compensation. Retrieved from Accounting Notes: https://www.accountingnotes.net/human-resource-management/compensation/types-of-compensation/17489
- Kanhar, S. (n.d.). Types of compensation. Retrieved from Business Management Ideas: https://www.businessmanagementideas.com/human-resources-management/types-of-compensation/types-of-compensation/types-of-compensation-employees-hrm/19789
- Steinbrink, J. P. (1978, July). How to Pay Your Sales Force. Retrieved from Harvard Business Review: https://hbr.org/1978/07/how-to-pay-your-sales-force
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