Revisiting Money Motivation in Sales – 2011 Trends

We previously wrote about the impact of compensation plans on the behavior of sales reps (see Sales Comp Plans and The Age-Old Debate About What Motivates Sales Reps and Are Sales Reps Motivated by Money) and I just ran across this insightful post at the Sales 2.0 Network which shows in 2010, when the sales professionals were asked what motivates them, the number one response was Compensation and Incentives (49%).  A similar survey conducted in 2011 was more subjective, with non-sales professionals answering the questions, but it shows that sales compensation is less of a priority. As with all surveys, the methodology and segmentation of respondees usually provides useful insight into what is really going on.

Nevertheless, we have see some indications that money is becoming less of a factor for sales professionals, particularly for younger sales professionals (I wonder if this has more to do with growing up during strong economic times than with evolving human nature).

Dave Kurlan also see’s the same trend and notes the following in his article, Money Motivated Salespeople –  a Dying Breed:

50% fewer salespeople are money motivated today as compared to the findings from 2007.

Should you change your compensation model? Probably not. Salespeople still measure their success by their commissions, and a payoff for a closed sale or account is still good. It’s just money is not necessarily the be-all, end-all that motivates them to take action. Awards and contests are still beneficial if they run for short periods of time.

Salespeople that still fit the old description of “hungry” will perform as you expect them to.  But salespeople who simply love selling and want to master its challenges may perform even better!

See > > Money Motivated Salespeople –  a Dying Breed

See > > What Motivates Sales People? Results / Analysis / Commentary

If you liked this article, you may also be interested in these similar posts:

1. Are Sales Reps Motivated by Money
2. Four Sales Trends that Affect Sales Hiring in 2011
3. Set Big 2011 Goals Now!
4. How does your compensation plan stack up?
5. How to Use 1099 Contractors as Sales Reps