The Effectiveness of Financial Incentives to the Salespeople of Publishing Companies in Quezon City, Philippines

Abstract

With the increasing growth of publishing companies in the Philippines, the industry has showed significant contributions to the economic growth of the country as well. Moreover, giving financial rewards to employees became a common and deemed effective motivator in the company. While maybe classified in many distinctions, cash incentives have been viewed as an important and obligatory benefit that companies should give to their employees. This study aims to determine the level of effectiveness of financial incentives to the salespeople of publishing companies in Quezon City, Philippines. This study employed 120 top and middle- level managers and supervisor. The data was obtained through a survey questionnaire. The eight aspects of financial incentives were used as variables of the study. Results revealed financial incentive was Very Effective Targeting Sales Output, Attendance, Employee Turnover, Leadership and Work Excellence. Compliance to Internal Policies and Account Management were assessed as Effective. Independent T-test was also performed and found out that age has significant difference in terms of Perfect Attendance and Compliance to Internal Policies but insignificant to all other aspects. Educational attainment, on the other is significant only to Target Sales Output. Management level is also significant to Target Sales Output and Compliance to Internal Policies. Attendance and leadership have significant differences in the length of training in sales. However, all aspects of financial incentives were insignificant to years of experience in sales. Researcher recommended review, re-evaluation and revisiting of the current financial rewards that the company is offering.