Companies neglect reward strategy for sales jobs

A majority of companies are failing to get the most out of their employees, research by Thompson Online Benefits suggests.

Only 29 per cent of companies have a reward strategy in place for employees despite nearly two-thirds of those that do claiming it is effective at meeting their objectives, according to the Employee Rewards Watch 2008.

Reward strategies are an excellent way for companies to ensure they get the best talent in sales jobs at the sales recruitment stage and are also employed by 81 per cent of companies to retain talent too.

However, chief executive of Thompsons Online Benefits, Michael Whitfield, claims that understanding what elements of the strategy work is just as important as having one in the first place.

He said: "Professionals can expect to be put under increasing pressure to demonstrate that this spending is being properly directed.

Mr Whitfield added that employers offering a reward strategy for sales jobs should strive to "get a real time handle on what they are spending and where" so they can get "more bang for their buck".

The research also showed that strategy awareness was a key issue as one third (36 per cent) of employees indicate that the reward strategy is not well communicated.

Filed: 23-04-2008