 |  | Retaining Top Personnel MOTIVATION | | ||
|  The Cost of Turnover Orientation Motivation Coaching and Mentoring Training Goal Setting Performance Assessment Resignation and Termination More Resources: Retaining Top Personnel Code of Ethics: Retaining Top Personnel | 5 Contest Variations Vary contest formats so that they continue to create excitement. 1. All salespeople compete against each other. Plus: If you’re offering only one prize, it can be a good one. Minus: Only one winner, so everyone else may be discouraged. 2. Salespeople are divided into competing teams. Plus: Team idea helps foster cooperation and lets salespeople learn from each other. Minus: Teams may allow some slackers to win. 3. Salespeople compete against their past performance. Plus: Fair, since each person is matched only against what he or she has accomplished. Minus: Competing against yourself may not inspire as much excitement and camaraderie. 4. Salespeople perform tasks to participate in a drawing for prizes. Plus: Gives all associates some chance to win. Minus: May not motivate top performers. 5. Salespeople are awarded smaller, weekly prizes while working toward a larger prize. Plus: Helps build enthusiasm, since there are more frequent winners. Minus: May distract attention from the contest’s main goal. Adapted from Real Estate Brokerage Management, 4th edition, Bruce Lindeman, Prentice Hall, 1998 TIP: Consider holding a contest in the last 90 days of the year, when business is usually slow, to spark sales. —Marianne McClure-Barkman, CRB, John L. Scott Real Estate, Bellevue, Wash. 8 Tips for Great Contests There’s no magic contest formula, but keep these ideas in mind in planning your next skill. 1. Know your objectives—are you targeting more listings, more closed sales, etc.? 2. Publicize the contest—build excitement and you’ll get more participation. 3. Support it with training—use the contest period as a time to help associates hone their skills. 4. Keep it simple—don’t let the rules become too complex or salespeople will lose interest. 5. Keep it short—sustain enthusiasm by setting short deadlines. 6. Have fun—don’t let the competition become so fierce that it results in lingering animosity. 7. Let sales associates choose the prize—be sure that the prize is compatible with your salespeople’s goals and lifestyles. 8. Keep accurate records—don’t let a great contest be spoiled by a dispute over tabulations. TIP: A favorite contest prize is a chance to turn the tables on management—give out a free car wash by the sales manager or the right to use the owner’s reserved parking space. —James Kincaie, ABIDE, Inc. REALTORS®, Warwick, Okla. 5 Signs You Have a Motivation Problem > | |
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