Increased Job Satisfaction Outweighs Salary as Key Factor in 2019 Sales Compensation Survey Results
The Advertising Specialty Institute (ASI) has released the results of its 2019 Sales Compensation Survey, providing valuable insights into the priorities, preferences, and trends within the promotional products industry.
According to the survey, company culture, including healthy work environments and flexibility, is a top priority for employees. This finding underscores the importance of creating a positive and supportive work atmosphere in the industry.
The survey also reported a leveling off of declines in straight commission and an increase in the use of salary-plus plans. This shift suggests a preference among sales reps and sales managers for more stable income, with the added incentive of performance-based bonuses.
Younger distributor sales reps, in particular, seem to favour alternatives to straight commission pay, such as salary-plus plans. This trend could indicate a generational shift in expectations and preferences within the industry.
The survey showed that job satisfaction is a top priority for distributor sales reps and managers, reflecting a growing focus on employee well-being and happiness at work. In fact, the survey indicated that happiness at work is more important than money for most reps, a significant shift in priorities that mirrors broader trends in the workforce.
The survey results also highlighted the industry-wide growth experienced by the promotional products industry, with a 4.9% increase from 2017 to 2018. This growth is reflected in the average and median salaries, which are keeping pace with industry growth. The number of reps taking home more pay has grown the last three years, with the median salary now $65,000.
In addition to competitive salaries, the survey found that promo companies are increasingly offering benefits such as Paid Time Off (PTO), retirement plans, and insurance. These benefits not only attract and retain top talent but also contribute to a positive and supportive work environment.
ASI's flagship product, ESP, manages the industry's supply and marketing chain, while ASI's Counselor magazine provides the most authoritative business content in the industry. The ASI Education Certification Program features 200+ live and online education courses for industry professionals, ensuring that industry professionals have the skills and knowledge needed to succeed.
For more information about the survey, contact C.J. Mittica, the editor of Advantages magazine, where the survey was published. For information about advertising in any of ASI's three magazines, contact Matt Barnes, ASI's vice president of publishing and media services.
In conclusion, the 2019 Sales Compensation Survey offers valuable insights into the priorities, preferences, and trends within the promotional products industry. By focusing on company culture, competitive compensation, and employee well-being, promo companies can attract and retain top talent, foster a positive work environment, and contribute to the continued growth and success of the industry.
