Compensation plans can be as different as the salespeople they are going to. For Salem Farm Supply, the diversity and volatility of its market influenced the dealership to go with a fixed salary comp plan.
When it comes to recruiting, hiring and retaining top-level sales talent, the compensation plan can often times be the make or break part of the negotiation that will have people running to join your team or continuing their search elsewhere.
Dealers lament about the struggles of keeping salespeople focused on moving used equipment rather than just the shiny new units. A sure way to light a fire under your sales team is with compensation plans designed specifically to move used equipment — where the biggest impact exists. From withholding commission until a trade is sold to attaching bonuses to the used units, compensation plans tied to used equipment vary greatly — all with their own pros and cons.
AgriVision (John Deere) and Livingston Machinery (AGCO) detail the compensation programs they’ve developed to keep attention on used equipment — and the actions they most want to drive.
Used equipment experts agree that there’s no silver bullet when it comes to a compensation plan. There are numerous variables, personalities and ways of doing business and no single program is a panacea. But like most things, as a manager, you get to choose which behaviors you most want to drive, and also the set of challenges that go along with them.
Built on 90 years of expertise, Yetter Farm Equipment leads the agriculture industry in designing effective and innovative equipment for residue management, seedbed preparation, precision fertilizer placement, harvest attachments, strip-tillage, and more.
At Machinery Scope, we believe you deserve the best risk management solutions for your investments in heavy equipment. Since 2013, we have been proud to offer extended warranty, appraisals, and inspections. Machinery Scope is a family-owned business built on our experience in farming and equipment dealerships. We understand your business and provide a personalized and professional level of customer service. Machinery Scope has built a strong warranty product with our customers in mind, offering the same professional level of service from the time you get a quote, through the processing of a claim.
Finance Scope is able to provide the best financing opportunities for equipment dealers and customers through a diverse mix of lending companies under one single platform. Our large group of lenders, allows for competitive rates regardless of credit scores. Additionally, dealers and customers have access to the industry’s best expertise surrounding finance and lease structures, for all purposes, within the agricultural and construction industries. We provide all of this into one online platform to provide our customers with the best available tailored finance solution for their equipment.