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Usually, there are no complications involved in how an employee is compensated for his services. You decide the salary at the time of hiring, and that’s it! But it’s not so simple to decide on compensation for sales employees. And this is where the concept of commission sales comes in handy.
Let’s not forget, the sales department is one of the most crucial and valuable parts of a company. It’s the sales that generate your revenue. Hence, sales representatives have a lot riding on their shoulders. They are the ones responsible for attracting new customers and retaining old ones.
So how should they be compensated? You have to ensure the employees feel rewarded for their performance. At the same time, it’s also vital to ensure that you don’t set up too high expectations. Understanding how commission sales work can make things easier for you.
What Is Commission Sales: Everything You Should Know
Let’s start by introducing you to the concept of commission sales. Commission refers to the portion of your salary based on the number of sales you make. Or similar to other performance-based goals that your company has decided on!
Some positions remain completely commission-based. Employees only make money when successful in making sales. In other cases, commission sales solely mean an incentive. Employees get a flat pay rate along with a small percentage of commission for every sale they make.
How commission sales work tends to confuse many people. Typically, employers will calculate the commission depending on the sales during each pay period and include it in the salary check of the employee. Some companies follow a different approach wherein they deli… Read More
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