A President’s Club (PC) is synonymous with success. A sales representative who has achieved a President’s Club Title highlights their success and achievements regardless of their industry. Organizations across many verticals use this exclusive club to reward the very best of the best plus motivate the rest of their team members with the dream of one day joining the club themselves.
But what makes a successful President’s Club? How should an organization go about implementing and maintaining one? Here at LevelEleven, we are frequently asked by organizations for best practices and how to most effectively run a great President’s Club. Here are 5 best practices to consider when planning your President’s Club.
1. Have a Goal for Initiating a President’s Club
When creating a PC, ask yourself if your organization and your team are ready for this type of initiative. Do you already have contests and rewards in place? Is your organization large enough to support this type of club? President’s Club is meant to truly reward the very top performers within your organization and should be viewed as a tier of exclusivity that pushes team members to continuously achieve. With that being said, it is not a “cool kids club” and the goal is to create a motivational incentive. Be sure to build out your PC in a way that compliments your existing culture.
2. Establish a Timeframe
How does your organization currently operate and compensate its reps? I once worked for a company that was month to month and you could join the PC if you achieved a certain percent above quota consistently for three months in a row. Consider how long you want your timeframe to last. Most common President’s Clubs run for an entire year. Although organizations and industries are different, be sure to have expirations on how long President’s Club members stay in the club without hitting the goal again.
3. Who Can Become a President’s Club Member?
President’s Clubs used to be reserved for the very best salespeople. However, many organizations are using this recognition to reward other areas of their business. We have seen President’s Clubs ranging from Customer Service teams to IT teams. Think about which teams would benefit from having a PC. Just make sure to reward only the very best from those teams you are considering.
4. Rewarding Members of Your President’s Club
Most people are familiar with PC members being sent on extravagant all-expense paid vacations to some tropical island as a reward. This may work for some organizations, but it should be something representative of your team’s culture and distinctive enough to be desirable from a rep’s perspective. Most teams only consider the main prize, however, be sure to include other exclusive smaller rewards to drive consistent excitement and engagement. One common example of a smaller reward is hosting quarterly lunches with your C-Suite. It combines your leadership and the very best of your reps who have first-hand experiences with the good and bad of your organization. Having them mingle brings together the best of both worlds for an organization. Other rewards can be as simple as an addition of President’s Club to their title, or as complex as a new comp plan. Design rewards that blend well with your company’s culture and give your reps a desire and motivation to join the President’s Club.
5. How to Administer and Implement a Successful President’s Club
We get asked all the time how organizations can more effectively run contests as well as increase visibility and excitement for their reps. At the end of the day, a President’s Club is simply a long contest with a few select winners. Organizations use LevelEleven’s automated contest engine to proactively highlight how reps are pacing in real time and help celebrate their wins. This works especially well when tied to a TV component such as with our Channel11. Channel11 is able to broadcast any contests in and out of the office including ongoing President’s Clubs.
President’s Club can be regarded as a big deal for those familiar with the concept. It’s well known between industries as the highest standard of success. Don’t be shy to use your President’s Club as a recruiting tool to highlight how you reward your top talent. It also is a phenomenal tool for rewarding and retaining your top performers. Be sure to integrate your PC into your already existing culture.