Congratulations to the 2019
IES Premier Sales Employers!
About the Guide
Companies are challenged with acquiring, motivating, retaining and elevating top-tier sales talent more than ever.
In the Premier Sales Employer guide, the IES recognizes companies that are doing great things to make themselves exceptional.
We’re excited to see sales leaders and companies that are developing a workforce environment to attract, motivate and retain top-tier sales talent.
The costs of losing a high-quality performer can be extreme and the challenges of bringing on new talent are exorbitant.
The pdf version of this guide quarterly and the website updates will be on-going.
If your company is a premier sales employer, apply now. If you’re a sales professional looking for an excellent place to work, consider the companies in the guide.
About the Designation
There is no charge for companies to apply to become an IES Premier Sales Employer. There is no charge to be placed in the guide or to display the badge once a company achieves “IES Premier Sales Employer” status. The IES is uniquely positioned to recognize companies that are exceptional for salespeople to work.
Any company can apply for the IES Premier Sales Employer designation. Once the IES has confirmed that the 10-question application form has been completely filled out, it will be sent to a 3-person judging committee. The judges will review each of the 10 questions, with the applying company’s name hidden,and score each question 1 to 10. If the score is above 70%, the company will be invited to accept this designation and be included on the web site and in the guide.
The annual pdf guide will be published on November 15. It will be updated quarterly on an on-going basis to recognize new companies that achieve this designation. Designations will be acknowledged for the year. For example, the 2020 designation will start in November 2020 and continue through November 2021. Companies need to reapply each year to maintain Premier Sales Employer status
HR HANOVER
General Inquiries: info@hanoverresearch.com
Recruiting Inquiries: careers@hanoverresearch.com
Phone: 202-559-0050
CVENT
Contact: Alexis Richardson
Email: ARichardson@cvent.com
Phone: 703-663-2871
DESCRIBE YOUR SALES CULTURE.
We regularly get comments about Cvent’s strong sales culture by folks who interview or visit our office. The culture is a high energy, engaged, competitive culture where the adrenaline flows. The sales culture sets the tone for the overall company culture. Another big differentiator that regularly gets called out by our sales staff is management’s willingness to engage in a deal, with all sales managers regularly involved in deals. That support goes beyond sales managers to the senior management suite where non-sales leaders such as our General Counsel and CISO get involved in security calls, senior tech leadership joins calls to talk about the product road map, sales VP’s adding a senior voice, and even our CEO who will engage regularly with top customers. Again, Cvent is a sales centric culture so it is a fun place to be in the company. And best of all, the majority of Cvent sales reps achieve their annual quota versus the 20% benchmark in the software industry. As a result we have a lot of tenured (5+ years) sales reps in the company and reps make money which is why most of them got into sales in the first place.
DESCRIBE YOUR SALES ON-BOARDING AND ONGOING TRAINING. HOW DO YOU INVEST IN SALES TRAINING EXTERNAL AND/OR INTERNAL?
The Cvent Sales Academy has become a cornerstone for sales rep success. This starts with a 30-day sales on-boarding program called Ignite, where every sales rep spends full days in training and do not become market facing until this training is completed. The next 60 days is a scripted reinforcement training called Launch where reps invest a couple of hours per week in different reinforcement and “second level trainings” in parallel with performing their core job function.
The last phase is called Accelerate, which incorporates some mandatory continuing education sessions, as well as optional self-paced programs with a library of over 1000 on-line trainings. This formal training program is supplemented by grass-roots sales meeting and expert led product trainings. And lastly, because people want to hear a different voice, Cvent employs outside groups such as IES and Toastmasters to provide a variety of training options for sales reps for professional growth.
WHAT MAKES YOUR OFFICE A FUN & FULFILLING WORK ENVIRONMENT FOR SALES?
One of the best aspects of Cvent is the people we attract and bonds that are created in a fun, yet high performing, culture. To drive personal connections, we put on many internal events including a paintball tournament, annual summer social, in-house keg gatherings, family inclusive Halloween event, and holiday parties around the world in each of our global offices supporting many different cultures. Cvent truly has an open-door culture, which keeps employees engaged and collaborating with one another. Each of our locations sports an open and collaborative layout with very few executive offices to encourage a culture of open communication and employee / management engagement. Lastly, Cvent is proud to promote and foster a culture of diversity and inclusion with many Cvent Community Groups including those for Women, Veterans, and LGBTQ employees. All these things connect sales to other departments on a personal level which contributes to a close-knit office culture. The result is an environment where employees respect and appreciate one-another and enjoy coming to work to solve tough problems.
IMMIXGROUP
Contact: David Tong
Email: david_tong@immixgroup.com
Phone: 571-405-2958
WHAT RECOGNITION PROGRAMS DO YOU HAVE, BOTH BIG AND SMALL?
We set goals annually and encourage managers and employees to dialogue throughout the year. We celebrate successes and promote proactive communication — from team meetings, to townhalls with leaders, to a simple thank you from a direct line manager — we work hard, and we make sure our team is rewarded and recognized.
President’s Club is a reward program for the employees who demonstrate a steadfast commitment to customer service, extraordinary business performance, and outstanding sales achievement.
We also have a peer recognition program where our employees recognize their colleagues through a nomination and selection process highlighting urgency, focus and ownership. Employees must have demonstrated key attributes that contributed to a collective company success. Employees are invited to a dinner with a colleague, of their own selection, who has helped them obtain their success.
DESCRIBE YOUR SALES CULTURE.
We aim to make development opportunities accessible in our work environments and provide challenging assignments that prepare employees for greater responsibility. Our Global Career Framework enables employees to explore and manage their career growth opportunities within the broader organization.
We also provide management, leadership and personal development programs designed to support employees at key career milestones.
We also have some unique offerings such as cross-training opportunities for various roles, a Leadership Book Club, quarterly Women in Sales workshop, and other resources and events to foster inter-company collaboration and professional growth.
DESCRIBE YOUR SALES ON-BOARDING AND ONGOING TRAINING. HOW DO YOU INVEST IN SALES TRAINING EXTERNAL AND/OR INTERNAL?
Our training department provides a premier learning and development experience that enables employees to receive timely and structured learning experiences, operational training and career development programs that improve job performance and supports the company business objectives. The training program is a blended learning experience that helps employees become productive in their first 45-90 days. This is a tremendous value for the organization as it allows us to reach company objectives effectively and efficiently.
Our onboarding process includes a week-long employee orientation called “Phase 1: Orientation.” It consists of 16 micro level instructor-led courses within the employee’s first week of employment. Secondly, our “Intelligent Conversations” curriculum was designed to help the company’s Inside Sales positions and Lead Development Associates hold strong, meaningful conversations with our customers. The goal of the training program is to prepare all levels of our public sector sales professionals with the skills needed to facilitate “Intelligent Conversations” that result in qualified meetings with prospective clients or business leads for our public sector clients. Lastly, our “Phase 3- Job Specific” training is linked to performance and hitting financial metrics set by the executive leadership team. We ensure that employees have the tools and resources available to reach quotas and performance metrics throughout the organization.
Our ability to provide hands-on training while on the job sets us apart from other companies in our industry. Employees see not only the personal investment, but also the value and passion we put into their development to be successful. Thus, our retention increases, performance increases, employees’ skillset improve and we create an environment where we cultivate growth and development for all levels within the organization.
RED HAT
Opportunities are open.
Apply now: www.redhat.com/en/jobs
WHY IS YOUR COMPANY A GREAT PLACE TO WORK FOR SALES PROFESSIONALS?
From on-premise infrastructure to modern, cloud-native application development, Red Hat’s vision of open hybrid cloud positions our sales professionals at the center point between customer challenges and innovative technological solutions. It is a powerful motivational force for our sales teams to know that whatever comes next in this fast-paced world of technological development, our stewardship of open source development and leadership in hybrid cloud enterprise software will position us to help our customers to thrive.
WHAT RECOGNITION PROGRAMS DO YOU HAVE, BOTH BIG AND SMALL?
Red Hat is a meritocracy where merit is earned by how well you help others succeed. Recognition is essential to creating those winners. By calling out great work and rewarding Red Hatters who go the extra mile, we make associates feel valued and appreciated. We’re proud to recognize associates that go above and beyond to help the company succeed.
President’s Club
The President’s Club is designed to recognize outstanding contributions to the company from Red Hat’s top sales professionals as well as associates who support sales efforts. It is to acknowledge significant contributions to our revenue, which directly affects the company’s financial success.
Chairman’s Award
Named in honor of Red Hat’s retired Chairman of the Board, the General H. Hugh Shelton Chairman’s Award recognizes leaders who drive change in business every day, regardless of level, location, or job function. In the spirit of General Shelton’s leadership, the award celebrates Red Hatters who exemplify our core values, create a positive customer experience, promote collaboration, and demonstrate expertise in their fields.
Reward Zone
All Red Hat associates are allocated a quarterly Reward Zone points budget to spend on rewarding their peers who best represent our values and culture. In support of our closely held value of meritocracy, everyone gets the same number of points, regardless of their role in the organization. Points are redeemed by selecting an item in the Red Hat Reward Zone rewards catalog.
Honoring service and tenure
Many talented people work at Red Hat, and let’s face it, they could go work anywhere. But our unique, open source culture keeps many here. We believe it’s important to recognize these associates for their commitment to our mission, vision, and the spread of open source principles.
Celebrating the associates that expand our talent pool
We know that no one can spot a potential Red Hatter like a current one. We trust our associates to refer talented individuals who will flourish in our unique culture. The Red Hat Ambassadors Program, our associate referral program, rewards eligible Red Hatters who refer talented people from their networks to come work with us.
DESCRIBE YOUR SALES CULTURE.
Our corporate culture is pervasive and doesn’t stop where sales starts. Our sales culture focuses on fostering diverse and inclusive environments, knowing that the best answers can come from anywhere in the company. Trust-based conflict leads to commitment and accountability, both supporting our industry leading performance of 70 quarters of consecutive revenue growth.
Managers are trained to focus on the connection between professional development and high performance. We have an annual internal goal of having 100% of our sales force complete annual professional development planning.
JK MOVING
Contact: Vince Burruano
Email: vince.burruano@jkmoving.com
Phone: 703-260-3099
LIST SOME OF THE MARKETING ACTIVITIES YOUR COMPANY DOES TO SUPPORT SALES.
The JK Marketing Department is an integral part of our efforts to cultivate new opportunities. We have a staff of five full-time employees that support the enterprise with one of those staff members dedicated to JK Commercial. The Sales Team receives support in all aspects of branding and lead development. This includes brand awareness, digital and social media, advertisements, sponsorships and related activities. We develop marketing collateral and purchase gifts for our clients. We also invest significant funds in industry associations and networking groups including IFMA, ALA, NOVA ALA, CoreNet, Master Minds and others. We encourage our team to join committees and be leaders in these organizations to drive increased awareness and build relationships.
DESCRIBE SOME OF YOUR COMMUNITY INVOLVEMENT (CHARITY, POSITIVE PRESS IN THE COMMUNITY).
At JK, we live by the core values of care of respect – which, to us, means giving back to each other and the communities we live and work in – whether these communities are in our backyards or across the globe. We never want to lose sight of what matters most. Through donations, in-kind service, and volunteering, we support direct services to people in need, accessible education for people of all ages and backgrounds, and assistance to U.S. service members, military families, veterans, and first responders.
Recognizing that hunger was a real need in Loudoun County, VA and surrounding areas, JK Moving Services launched the JK Community Farm in 2018 to help those struggling with food insecurity, including children, senior citizens, families, and individuals in need.
Located in Purcellville, VA, the 150-acre Farm is a 501(c)(3) that provides organic fruit, vegetables, and protein to area hunger relief programs and shelters.
JK Moving Services partnered with the Loudoun Wildlife Conservancy to protect an 87-acre parcel of land in northern Loudoun County, near Lucketts, VA. JK purchased the property in 2018 with the intent to place it into conservation easement to protect from development in perpetuity. The Land Trust of Virginia, based in Middleburg, executed the easement for the property, which will be known as JK Wildlife Sanctuary.
WHAT MAKES YOUR OFFICE A FUN & FULFILLING WORK ENVIRONMENT FOR SALES?
We have ducks. Little rubber ducks. A few years ago we started a new recognition program for the entire staff by giving each person a duck (various styles) and allowed anyone to issue a duck when the recipient went above and beyond. We regularly have team members presenting ducks to teammates with a heartfelt thank you. The team is so enamored with the program that they proudly display their flock on their desks and workstations. We always said we were a bunch of weird ducks – now there’s proof!
There is a positive and supportive work environment. While the Sales Team does not spend a lot of time in the office they know there is a team here to support them. When the team is gathered they are positive and jovial. They help each other, tell stories, and generally enjoy each other’s company. We have many opportunities for “team selling” – with multiple sales professionals working on the same account and sharing the bounty of success.
KERI SHULL TEAM
Email: contact@kerishullteam.com
Phone: 703-952-7653
WHAT RECOGNITION PROGRAMS DO YOU HAVE, BOTH BIG AND SMALL?
We love to celebrate our wins! We have incentive programs for all of our departments in which they have to hit their monthly goal to get. At the end of the year, each department creates a board of difference incentives they want to win and they set their monthly goal with leadership. Some examples of incentives are concerts, airline tickets, spa days, etc. We also do small shout-outs in every single weekly team meeting. The shout-outs are given by other team members to other team members. We have them pop a balloon and give them a Starbucks gift card. This year we are doing a “Win a Benz” contest. Every referral of a candidate a team member sends in, team members are entered in a drawing we will pull at our end of year holiday party. Each referral counts as one entry. The winner will receive a leased car of their choice & get $500 per month paid toward it for 3 years. It has been amazing for recruiting. We also take a big trip each year as a team if we hit our annual sales goal for 2 nights, all expenses paid. The last two years we went to Miami & it was a blast. This year we did a Q1 contest for the top 5 sales people who brought in the most GCI & went to Florida for a few days, went boating, relaxed, etc. We called it the “Winner’s Circle.”
LIST SOME OF THE MARKETING ACTIVITIES YOUR COMPANY DOES TO SUPPORT SALES.
Our company has a 12+ person marketing team that includes SEO, webmasters, videographers, photographers, designers and social media managers. The depth and diversity of our marketing team provides agents with robust lead generation and unique opportunities for personal branding, such as producing professional video content. Our marketing team trains our salespeople how they can leverage social media, email and text marketing to best convert their sphere, get more referrals and become dynamic content creators. Our marketing team goes over the exciting, current efforts they’re working on and relays it to the group in weekly staff meetings.
DESCRIBE YOUR SALES ON-BOARDING AND ONGOING TRAINING. HOW DO YOU INVEST IN SALES TRAINING EXTERNAL AND/OR INTERNAL?
Our sales on-boarding and mentor program is an intensive into the DMV real estate market, sales techniques and shadowing of top tier agents. Once on-boarded, agents continue through a one-on-one mentorship program and with an experienced agent until they have closed their first few deals and have established the daily activities to build a strong business for themselves. We meet weekly as an entire sales team and for role playing and specialized training sessions based on position. All salespeople are reimbursed up to $2000 for annual enrichment and career growth.
DLT
Contact: Amy Kelly
Email: amy.kelly@dlt.com
WHY IS YOUR COMPANY A GREAT PLACE TO WORK FOR SALES PROFESSIONALS?
Our company’s EVP (or Employee Value Proposition) is aligned to development of exceptional talent. Our EVP is “Accelerating careers, transforming our future.” It is aligned with our company’s mission of “Accelerating public sector growth for technology companies”.
The focus on accelerated learning is heavily oriented toward our sales team. This team makes up almost 50% of our workforce, and our learning and development programs are purpose-built to address the skills needed to drive the growth of our client and partner business. When you come to DLT, you get a master’s degree to selling into the largest enterprise technology market on the planet – the US Government.
WHAT RECOGNITION PROGRAMS DO YOU HAVE, BOTH BIG AND SMALL?
We have a market-differentiated Technology Domain Training program that teaches our sales professionals how to build growth business plans (sales plans) that increase sales success in their focus domain. This training program teaches them how to identify market opportunities and drive execution to close deals. Each month we recognize a top sales performer with the TDT belt. It is a champion boxing belt with TDT on the middle (Tech Domain Training). The winner is rewarded with the belt for a month and a monetary award. This is presented at our monthly all sales meeting.
In addition we have a monthly sales call blitz. There are multiple opportunities to be rewarded and recognized in sales successes from building pipeline to lead passes to closed deals. We have a large award ceremony at the end of each sales blitz day where the winners receive money and recognition for their sales successes.
Another recognition program is via our quarterly all hands meetings. At these meetings submissions for BIG WINS and other business successes are evaluated by the executive team, and winners can receive a Power of One Award and/or an Elephant Award.
Each year there are sales awards at our annual kick off, as well. In addition, each team has regular spiffs and contests for gift cards and other prizes related to closed deals and building pipeline and lead passes.
LIST SOME OF THE MARKETING ACTIVITIES YOUR COMPANY DOES TO SUPPORT SALES.
Our marketing organization creates comprehensive campaigns to support the sales teams’ business plans to drive sales growth.
The marketing activities span from events, to strategic email campaigns, to webinars, to thought leadership creation, to our strategic technology-domain-focused “hubs.” The hubs are online and combine thought leadership that creates a community of interest around a particular technology domain. We have a Digital Design hub and we recently launched the Cyber Hub during October – Cyber security hub. Marketing also drives media focus via Press Releases related to our expertise in the public sector market. This could be around contract wins (which produces sales leads and opportunities) to big announcements based on our partnerships that provide sales opportunities.
We have end-to-end marketing capabilities and a proprietary COIN (coin scoring) capability that takes our Communities of Interest Concept and tracks the customer engagement with marketing materials. Our sales teams can view and target individuals that are consuming our thought leadership and visiting our hubs to drive the most strategic sales outreach possible.
J.G. WENTWORTH
Contact: Gary Milwit
Email: gmilwit@jgwentworth.com
Phone: 301-347-4462
WHAT RECOGNITION PROGRAMS DO YOU HAVE, BOTH BIG AND SMALL?
Rep of the Month and Quarter for each Brand: JG Wentworth, Peachtree Financial, Stone Street Capital, JGW Debt Settlement Rep of the month and Quarter by product: Structured settlements, Lottery and prizes, Life contingent, annuity purchase plan Year End: MVP for each Brand Year End: Rookie of the Year Year End: Team of the year by brand These awards all come with a bonus check! The MVP of Peachtree sales group has a framed jersey hung up on their Wall of Fame; The JG Wentworth MVP gets a VIP parking spot with their name on the blacktop for the entire year. Lottery, Stone Street, and Debt settlement are all new to the company and are deciding on what they want to do as this goes to press.
Top Talent Program: Each Quarter the Vice Presidents of Sales nominate up to 10 Reps. Top Talent Reps get special 1:1 and small group sessions done in person and through our new video conferencing system. For two months 9 sessions are hosted by the Executive Director and a different Senior Director will attend for an exclusive 20 minute Q&A session during 4 of the 9 sessions.
DESCRIBE YOUR SALES CULTURE
Our Sales Reps work in an environment that is modeled from a Wall Street Trading floor. No offices with a fast pace. Our Sales Leaders work on the sales floor and make it part of the daily routine to speak with our customers. The two VPs of Sales both work on the floor and use their offices only for meetings. Reps can expect to be coached and trained on regular cadence, Sales Reps at the Company never experience a boring day and their work is respected by everyone and the job itself never easy. It is called work for a reason but working at JG Wentworth is invigorating. If an outsider came to visit any of our locations they’d be surprised at how many people are smiling and enjoying making good things happen for other people. The culture is competitive, team oriented, and comes with a strong undercurrent of Continuous Learning. The compensation plans are aggressive, Top performers earn promotions and they routinely will out-earn their managers.
Sales Reps, Sales Managers, Sales Directors, and Sales Executives account for nearly 67% of the company’s total full time employees.
WHAT MAKES YOUR OFFICE A FUN & FULFILLING WORK ENVIRONMENT FOR SALES?
Our office environment is an exciting place to work. Our Headquarters in Chesterbrook, PA has two large sales floors, each has its own ping pong table, gourmet coffee machine and kitchen. Our offices in Rockville, MD and Radnor are both new, they are equipped with a state of the art video conference systems and each has its own training room. Both locations only have executive offices all of which are used for Corp. executives, an open floor plan, multiple huddle rooms for coaching and online learning, all of our sales floors have gourmet coffee machines, a kitchen, lounge areas and ping pong tables.
Each of our locations host a monthly luncheon for all employees, and each host a monthly themed happy hour as well. This past month each office had its own Oktoberfest Happy Hour. Friday is jersey day when all employees are encouraged to wear the jersey of their favorite sports team. From Memorial Day to Labor Day every Friday is a half day and on Friday’s wearing shorts is the norm. The dress code is business casual every day of the week all year long.
When people come to our offices they will feel the energy, they will see multiple television monitors with different customized gamification channels including leaderboards. They will hear music being played, and if they look closely, no matter which office they are located, they will notice an ecliptic group of salespeople who are intently engaged with customers, and each other and lots of smiling faces.
HR HANOVER
General Inquiries: info@hanoverresearch.com
Recruiting Inquiries: careers@hanoverresearch.com
Phone: 202-559-0050
WHY IS YOUR COMPANY A GREAT PLACE TO WORK FOR SALES PROFESSIONALS?
Through the work of our revenue teams, including business development and account management personnel, Hanover has achieved a 25% CAGR over the past five years and been recognized by the American Marketing Association’s Gold Report as a Top 50 Market Research Firm each year since 2015. Within the last five years, Hanover has twice been named one of Washington Business Journal’s 50 Fastest Growing Companies in the Washington, D.C. Area and the 2nd Fastest Growing Firm in the market research industry worldwide.
Beyond the company’s success as an attractor to top revenue professionals, there are three pillars that make Hanover a key destination for top sales and account management talent.
1. A culture of meritocracy, recognition, and opportunity for advancement
High-performing members of the revenue team are some of the first to be considered for internal transitions and promotions, as they continue their tenure at the company. Hanover is focused on providing end-to-end coaching and professional development opportunities that have proven to turn college graduates into C-level officers and senior leadership roles within 6-8 years. Currently, 60% of managers and executives in the revenue function started their careers as entry-level members of the sales team. This includes Hanover’s Chief Revenue Officer overseeing the education practice.
2. A constant and organization-wide focus on training and development
Hanover Research has been recognized as the winner of the 9th Annual Institute for Excellence in Sales (IES) Awards in the Sales Training award category. This excellence has been driven by a constant focus on developing team members toward the next step in their sales careers through regular coaching and training. Hanover approaches sales training holistically: the training programs address every stage of the sales career lifecycle from entry level through senior leadership.
3. An unlimited compensation structure that rewards top performers
Hanover believes in providing a competitive base salary for all revenue contributors in recognition of the importance and difficulty of sales as a calling. In addition to rewarding revenue performance with monthly, quarterly, and yearly incentives and competitions, the Hanover revenue commission structure is unlimited at every level of the organization.
4. Ability to make an impact
The opportunity to sell and serve to c-level executives and executive directors at highly ranked educational institutions, high-achieving and large school districts, and various industry-specific organizations allows our sales directors to not only keep a real time pulse on what is happening in the business and education world— but also allows us to set these organizations up for disproportionate growth through the use of Hanover’s services.
DESCRIBE YOUR SALES ON-BOARDING AND ONGOING TRAINING. HOW DO YOU INVEST IN SALES TRAINING EXTERNAL AND/OR INTERNAL?
Recognized by the Institute for Excellence in Sales as the winner of the “Excellence in Sales Training” category in 2019, Hanover offers a robust sales training program. This commitment to training starts with a 120-day onboarding program that combines classroom training, live and recorded call reviews, extensive role plays, and a tested signoff process. Hanover continues to educate established and senior team members with access to on-demand online training sessions, monthly classroom continued development sessions, access to outside training experts, and participation in outside professional development programs. The training programs culminate with a multi-tiered management training curriculum for new managers and a ‘Coach the Coaches’ curriculum for established managers.
Hanover invests in extensive internal resources devoted to development and training with both a Learning and Development team under its human resources function and a Sales Training team under the revenue function that focuses primarily on building current sales skills through coaching and introducing team members to new techniques that further their effectiveness as expert communicators and consultants for their clients. Beyond the ongoing training and development these teams provide, their work culminates in two-day training kickoffs for the entire department twice a year.
In addition to internal resources, Hanover regularly provides revenue teams with outside development opportunities. These include monthly speaking sessions from experts in the sales industry (The Institute for Excellence in Sales ), yearly conferences (Sandler Sales Training), management training workshops (emotional intelligence workshops, transitioning from contributor to manager), as well as access to on-demand training resources such as Coursera for less traditional sales skills (Project management, etc.).
Hanover also equips staff with the sales training tools required to help them develop themselves. These include an on-demand learning management system (Adobe Captivate Prime), a centralized training database with all collateral and examples of great templates and calls (ClearSlide), and finally a recorded call coaching platform (ExecVision) that allows comprehensive self-review and coaching feedback as well as the ability to score your execution and development against your peers in a gamification system.
HOW DO YOU COMPENSATE IN GENERAL? (COMMISSION VS. BASE, ETC.) DO YOU OFFER SALES INCENTIVE PROGRAMS?
Hanover’s sales contributors can expect three primary elements to their compensation: competitive base, unlimited commissions, and numerous incentive programs.
1. Salary – Hanover has conducted extensive market research to set some of the most appealing pay scales in the northeast. Entry-level sales associates enter the company at one of the highest base salaries for college graduates in the DC region and earn a salary increase with each promotion.
2. Commissions – Hanover’s variable pay is based upon a percentage of the revenue attained by quarter. That percentage increases with each tier of goal attainment achieved. In other words, the more you sell, the higher the percentage of that deal you take home in commission. The total monetary value of these commissions is unlimited and there is no cap based or maximum commission threshold.
3. Incentives – Hanover offers too many incentives to list here but the most critical are the firm-builder, pacing incentives, multi-year incentives, average price point incentives, and an all-expense paid trip.
a. Firm-builder is an annual incentive in the tens of thousands awarded to those reps that bring in more than $1.5MM to the company for two or more years in a row. If that rep achieves a third year of firm-builder that incentive doubles.
b. Pacing incentives are a critical part of helping reps achieve quarterly goals by rewarding them for achieving 20% revenue attainment after the first month of the quarter, then 50% revenue attainment by the end of month two. There are cash incentives for each of these targets.
c. Multi-year incentives are critical because Hanover members renew at astronomical rates if they remain a member for two years as it helps them to understand the holistic and embedded nature of a Hanover membership. Hanover rewards these types of deals with higher commissions and bonus incentives.
d. Average price point incentives, each deal over a set price point in the fourth quarter represent a raffle ticket which is drawn at the end of the year. Each drawn raffle ticket represents additional bonuses in the thousands of dollars and represents an exciting additional year end bonus for those that most effectively communicate and share the value of Hanover.
e. The directors that achieve over $1MM in revenue are invited to attend an all-expenses paid company trip to the tropics with their fellow top performers and a plus one. These trips have been to the Dominican Republic and the USVI in the past.
