Market study: How do you incentivise staff performance?

This research stems from CyclingIndustry.News’ own Independent Retail Channel Study, which drew on the feedback of 201 bike shops and workshops across the UK. To find out more about the study’s content and how to purchase, head here. A thanks to our sponsors, The Cycle Show, whose free trade registration is now live here.

For over 7 in 10 bike stores, granting staff access to trade accounts and offering discounted goods is the preferred method to boost morale and drive staff performance. In an enthusiast sector, why not?

Though not applicable to all stores, voluntary support for staff who race in their spare is another way to boost staff morale in an enthusiast sector. This talent nurturing approach has been known to be a useful marketing tool for stores, bringing the benefits full circle.

Around 44% of firms chose to offer performance-driven incentives, with bonuses outweighing commission-led incentives. This presents an interesting conundrum for consideration; is it better to give little and often to reinforce progress and keep staff motivated, or less frequently but with a perhaps greater gesture?

Referring back to sales trainer Colin Rees’ prior writing on CI.N, he suggests that when quizzing staff on their motivations during his many decades serving the industry’s top brands, around 8 in 10 bike shops staff talked about job satisfaction ahead of money.

That said, have you tried setting sales targets for staff, with a 50% profit share above the predetermined figure distributed between staff and business dangled as the carrot? We’d wager an uptick in turnover, enhanced teamwork and potentially the discovery of untapped talent on the payroll.

The salaries generally handed to both senior workshop staff and shop management were published earlier this week.

To browse jobs in management, in the workshop and elsewhere in the industry see our recruitment board here.