Insights on Incentives has as its sole purpose the facilitation of thought and discussion on the subject of incentive compensation for banks and credit unions. Once a month NSS will be sending out an e-mail with one insight on the area of incentive compensation. The insights will come from our research, discussion with customers and finally, those of you who decide to offer an insight on this important sales management issue.
Driving Investment Services Referrals
The first answer is to pay incentive compensation to reinforce the behavior. However, that may not be the total answer to achieving excellence regarding this performance metric. Consider the personal touch. The investment services sales force should be encouraged to visit your branches and meet with your employees. Their mission is to add a modicum of product knowledge while developing a level of confidence in your staff in what they have to offer and much of what they have to offer is themselves.
Make sure they bring the coffee when they come to visit the branches. That will help too.
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Insights on Incentives is brought to you by NSS Corp.
