A bit of friendly competition can be healthy motivation, too much, however, causes stress and can have many more negative effects. The most important were described by Talentmgt.com.
1) People from you team will stop cooperating
If the individuals that make up your team are just in it for themselves and their own successes, they will automatically work against each other. Each member of your sales team should have a separate territory. Then an individual win will be a triumph for everyone.
2) Negative energy
Do not set unrealistic goals, this will demotivate salespeople. By setting positive goals, you build a healthy working environment. If your team is already full of negativity and the salespeople cannot stand each other, do everything you can to make your working environment positive again. Teams should support each other. The following steps may help you:
1) Start with yourself
If you really want to make changes, you have to start with yourself. Start building a clear and positive vision for your team or company. All segments should be involved. This approach will create team building and cooperation.
2) Team enthusiasm
Celebrate as a team if there is a new sale. People will be more motivated. Do not forget to praise members of your team. A handwritten note may sometimes be enough, at other times more formal appreciation is appropriate.
3) Invest
Invest time and money in creating comfortable and private workspaces and areas for team activities. Also invest into technology which can help your sales.
Allow people in your team to have time to get to know each other.
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