5 Ways to Motivate Your Pricing Team!

Your pricing team is a valuable asset to your company and you know it, or else they simply would not be there. They are hard to find and hard to hold on to because of the demand for their not-so wide spread talents. So how can you make sure they don’t leave you for another company without having to empty out your pockets? Here are a few simple things you can do:

1. Communicate With Them

When it comes to motivating staff, most employers think an incentive program of some sort is the only way to go. But how about this for an idea: Communicate with your employees. Institute something like a “Monday Morning Cup of Coffee”. Each week, choose one staff member with whom you can spend 30 minutes to an hour just talking. Often, the conversation isn’t even business-related. When an employee knows they’re truly valued and that their boss has a genuine interest in them, they’re much more likely to perform well.

2. Job Title

It costs nothing to improve someone's title but may mean a great deal to him or her personally and the way that they are perceived in the workplace.  For your pricing professionals, they are mostly MBA holders and have an affinity for large job titles. When posting for jobs you can even make sure you carefully write flashy job titles in the descriptions in order to attract candidates that would be more likely to stay with your company longer, and work harder due to the title.

3. Train All for the Price of One

Providing people with the opportunity to attend an external training course is a great means of stimulation and simultaneously shows that you are prepared to invest in their development. After they return, encourage them to outline what they've learned to the rest of your team. This will encourage not only team building, but it also help you notice who the leaders are in your group. 

4. Offer Telecommuting Options

Working from home is an amazing perk these days.If you have staff members, who  you know can be productive from home, consider offering a telecommuting option. Your employees are sure to love it, as it will save them plenty of time and money.

5. Take Part in Team-Building Activities
This method may seem cliché, but it actually works. Staff members who develop close personal relationships with their coworkers are much more likely to stay with a company. Even if your team building activity is nothing more than after-work bowling, your employees are sure to enjoy it.

Final Thoughts

Motivating and keeping your pricing team is very important to having a productive workforce that will stay for a long time with your company.  In the world of pricing, the longer a pricing professional stays with your company, the more valuable they become as they begin to understand the market for your industry more and more and can help you make the best pricing decisions to help your company grow. There are so many things you can do to keep them motivated and interested, but nothing beats having a genuine interest in the people who work with you.