The Most Important Factor In Retail Commissions
Most retail businesses need a “retail-centric” accounting method that has been designed to keep track of the many variables encountered during operations. One of the most challenging variables is the incentive programs used to encourage sales. Not only does this incentive program need to be carefully designed and communicated to employees, it also needs to be able to track accurately so that employees are compensated as promised.
The most important factor in retail commissions is a clear understanding of how it works for your particular store.
This means that everyone is on the same page, understands what they are responsible for, sees the potential reward for their efforts, and is rewarded when they meet clearly defined goals. Most of the spectrum of sales incentives do best when they are attached to behavior within the staff’s control and tied to regular reviews and training.
ChainDrive’s Retail Accounting software has a query-based commissions and bonus engine that can handle all the uniqueness of your sales incentives program because it is designed to be flexible. You come up with the incentives that work best with your business and we can show you how the software can be used to keep track of it all.
Whether you need to use fixed or scaled rates, you can customize the paycheck for individual employees from data collected at POS and exported to your payroll provider. You can create targets and budgets for departments, stores, or individuals and know that it all will be able to be analyzed whenever you need to take a closer look and evaluate the program.
Being able to accurately account for all transactions and communicate clearly to those relying on sales incentives is one reason so many retailers choose ChainDrive.