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Internal Sources:
As the name says, it means the recruitment of people within the
organization. They fill in vacancies with the existing members
within the existing organization. This can also be termed as
promotion.
Merits:
Co-operation
Loyalty
Honest performance
No training
Same salary
Demerits:
Limited scope
Chances of favoritism
Time to adjust
External Sources:
Employment Exchange
Competitors’ organization.
Salesmen of non-competing firms
Educational institutions
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Unsolicited applications
QUESTIONS?
The process of selecting differs from one place
to another. Each firm has it’s own method of
selecting people. The qualities expected must
match with the job description and the person
should be qualified enough too. The steps
followed for selection is the same in all the
places.
Application Blank
Screening
Reference
Personal Interview
Test
Medical examination
Final interview
Training is the continuation of selection. After
selection, the sales manager will have two options.
Approach
Overcoming objections
Pre-approach
FINANCIAL NON-FINANCIAL
FINANCIAL INCENTIVES
* Salary package
* Flexible expenses
* Fringe benefits…etc…
NON-FINANCIAL BENEFITS
* Promotion
* Recognition
* Awards
To know whether the sales executives are
achieving the quotas set for them i.e sales plans,
the reports of their performances are compared
against the set standards.
On the basis of the information, the conclusions
are drawn and accordingly incentives are
announced.
If required the sales executives are motivated and
trained.
COMPENSATION is made in three ways.
Direct salary
Direct
Commission
Combined
plans
Direct salary:
In this method sales executives are given fixed salary
per month.
Direct commission:
In this case the executives will be working on
commission basis…Eg : Life insurance agents.
Combined Plans:
It is a mixture of straight salary and straight
commission plans. In this method the sales executives
are paid their regular salary plus their commission on
the sales they make.