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How do you keep your best salespeople from leaving to work for somebody else? Or get an independent rep to
pay more attention to your line?
The answer, says Jeffrey S. Adler, is "silver handcuffs" -- a deferred bonus plan. Adler, a
vice-president of the Insurance Services Division of Merisow Financial, a Chicago-based financial service firm, explains how it could work:
You set a specific goal this year for your sales person, who is generating, say $110,000, he'll get a bonus of $2.500 --
but the bonus is only payable after he has stayed with the firm seven years. If the salesperson hits his quota each year during that time, the
company will pay out a $17,500 bonus in seven years. If the rep leaves before that, the company would keep the money.
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