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SelectOne Blog

How to Effectively Incentivize Your Sales Staff

Posted by SelectOne

A highly enthusiastic and motivated sales team can mean the difference between a company that just gets by and a company that’s truly flourishing. So while good leaders are always thinking about how to encourage employees to do their best, it makes sense to give extra consideration to those on whose personal drive so much success depends.

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Topics: Business, Workplace, Financial

Building a Commission Plan for Your Sales Staff

Posted by SelectOne

Commissions are a method used by many companies to incentivize their salespeople, and for good reason. Commissions help salespeople to feel ownership over their own careers and success, and allow you to reward those who do exceptionally well without destroying your payroll budget in the process.

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Topics: Business, Workplace, Financial

Determining How Valuable a Role is Within Your Company

Posted by SelectOne

When setting salaries, you need to determine how valuable the role in question is to your businesses. While this number likely won’t impact the low end of your salary range for the position (which will most likely be dictated by industry and area standards), it will have an impact on the maximum you’re willing to offer to an outstanding employee.

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Topics: Financial, Hiring Strategies

How Current Market Rates Affect the Salaries You Set

Posted by SelectOne

Market rates help you know your minimum salary.

When you’re trying to woo an amazing candidate, you’ll want to look at their potential value to the company when deciding how high you can go in salary negotiations. But when you’re trying to determine the minimum you’d offer to a candidate who’s either a bit of a wild card (career changers, self-taught, fresh out of school, etc) or just okay? You need to make sure your lower range is high enough to avoid insulting your applicants or turning them away.

This is where market rates come into play.

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Topics: Business, Hiring Strategies, Financial

How Much Should a Candidate's Experience Determine Their Salary?

Posted by SelectOne

“Requirements: 5+ years of experience.”

Lines like this are incredibly common in job postings. But within that requirement, there’s an awful lot of variability included in that little plus sign. 5 years? 20 years? Beyond the basics of hiring, what does that experience mean when you’re setting salary?

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Topics: Business, Hiring Strategies, Financial

How to Determine the Right Salary for a New Position

Posted by SelectOne

Determining the salary to offer for a position that already exists at your business is fairly straightforward. You look at the salary of the previous person or people in the role, take into account their skills, experience, and other qualities, and work from there.

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Topics: Hiring Strategies, Business, Financial

5 Mistakes to Avoid When Setting and Negotiating Salaries

Posted by SelectOne

Just as there are plenty of best practices when it comes to setting and negotiating salaries with new (and newly promoted) employees, there are also some major pitfalls that you will definitely want to avoid.

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Topics: Hiring Strategies, Business, Financial

Tips on Negotiating Salaries with New Employees

Posted by SelectOne

While it’s pretty well known that many (if not most) new employees will try to negotiate their salary once they’ve been provided with an offer, hiring managers still find themselves blindsided by the prospect of actually negotiating. Do you always need to meet them in the middle? Should you ever decline to negotiate? What do you do when there’s really no wiggle room in the budget at all?

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Topics: Hiring Strategies, Business, Financial

The Best Ways to Incentivize a Salaried Employee

Posted by SelectOne

When you need to ask an hourly employee to put in some extra hours, the carrot you’re offering is obvious: more pay for more time, and potentially overtime pay as well. When it comes to salaried employees, though, it becomes trickier.

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Topics: Business, Financial, Hiring Strategies

What Salary Guides Don't Teach You About Setting Salaries

Posted by SelectOne

When setting salaries for new positions at your business, it can be tempting to just pick up a salary guide for whatever job title you are running with and go with whatever range they recommend. And salary guides can be one source of information about salary ranges (although they’re increasingly being found to be unreliable).

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Topics: Hiring Strategies, Industry Trends, Business, Financial

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