If you're in sales, you understand the pains of the commission payment structure. Sometimes you don't see that bonus check for months on end, juggling things until the bigger payday comes, and in the mean time you're fretting over pay periods between.
Utah startup Everee conducted a survey of around 700 U.S.-based salespeople in an effort to understand the disconnect between when those people want to get paid and when they actually get paid. In the survey, Everee found that "... 56% of salespeople don’t receive their commissions for at least two weeks, and 41% are paid once a month or quarter," and that 65% were left wishing they'd get their commission within a week of the sale closure.
This is valuable information for companies like payroll platform like Everee, who can pay workers quickly- even daily if they choose. Customers can leverage Everee's credit network to fund payments to employees while maintaining cash flow.
Additionally, Everee found that because of the regular "feast or famine" sort of payment for salespeople, employees are often looking for jobs that keep a more steady cashflow. 31% of sales reps surveyed said they weren't planning on staying with their current companies for more than a year, but 67% said they'd likely stay longer if they were paid commissions within 24 hours.
This is something to think about if you're starting or currently have a company with commission-based sales. How can you have high retention for salespeople? The key could be in the pay structure. See Everee's full survey here.
