The Benefits of Working on Commission
One of the boldest moves an employee can make in the job market today is working without knowing how much they will get paid at the end of the month. This occurs when the pay is solely based on commissions. While such a job isn’t for the faint-hearted, it’s arguably one of the most rewarding sales positions one can ever get. Here are the reasons why:
1. You can negotiate for better commission rates
While sales professionals working on a retainer + commission arrangement have little to no say about the margins of their incentives, a commission only worker can boldly negotiate for a higher percentage. This is because by forgoing the retainer, you are taking the risk of not being paid at all if you don’t make a sale. Now, this gives you grounds to ask for better margin to cushion you against low sales months.
2. It’s an opportunity to drastically increase your pay
If you are a performer with a good understanding of the industry you’ll operate in, picking up a commission only deal could be the break you’ve always needed. First of all, an increased rate will help you earn more on each sale. Secondly, when you put your best foot forward, you can easily surpass the amount you could have earned as retainer salary. Thirdly, there is no limit to how much you can earn!
3. Pushes you to work harder and exceed your norm
The fact that you won’t get paid if you don’t sell makes you work harder. This can push you beyond your limit and propel you to a new level of excellence. Consequently, you stop being an average salesperson and join the league of the top professionals in your field, who earn better as well.
4. You have total control of your time
Most companies with commission only compensation plans allow their sales reps to manage themselves. You hunt for clients without the need to spend time in the office handling paperwork. This frees you, thus allowing you to enjoy a healthy work-life balance. You will be a more satisfied, happy worker with better chances of high productivity. This is something you’ll probably lack if you work under strict supervision.
5. Opportunity for career growth
Wondering how this can work out? Here is the deal: when you succeed selling for commission only, your employer is likely to give you more responsibilities. You may even have sales reps working under you. In this case, you now get paid based on their sales and you no longer have to go to the field. All you need is to train and guide your team.
If you are confident about your sales skills, taking up a commission only opportunity could be a great opening for you. Besides the money, it will push your sales career to an all new level. Working on commission only will also allow you a healthier work-life balance. So, when such an opportunity comes knocking at your door, don’t shy away.