Your dealership culture is not just about communication and cohesiveness. It also involves clearly defined opportunities for advancement, reachable goals, and monetary rewards for hitting performance milestones. Amp up the culture at your dealership with a clear F&I pay plan that retains your top talent, identifies growth opportunities for rising stars, takes care of your customer, and enables everyone to make more.
Reward Performance While Building the Right Culture
In today’s fast-moving powersports market, being profitable doesn’t just mean moving more units off the floor. It’s about how well your F&I team is motivated to maximize every deal that comes through the door. The key to that motivation? A well-structured pay plan…AND making sure every rider knows about the protection products that keep their investment safe and their adventures worry-free.
Think a pay plan is just a process for calculating commissions? Think again. It should set the tone for your F&I team’s behavior and drive the culture in your store, for better or worse. That’s why building a pay structure that rewards your team while also boosting dealership performance isn’t optional…it’s what separates a profitable dealership from one that struggles to stay in the race.
Is employee turnover causing you to question your long-term approach to employee satisfaction and growth? Employees’ generational differences are reflected in job satisfaction. What works for an older employee whose work supports their love of powersports might not work for a younger employee who has different life and financial goals. An unbiased look at your pay plan is a good place to begin finding a solution that works for everyone.
Unbiased Pay Plan Review Provides a Roadmap to Success
Pay plans must be structured based on product penetration in addition to profitability. It’s easy to base your pay plans around total dollars produced per individual transaction versus the entire opportunity to include dealer profit participation in the products they can offer.
Poorly built compensation plans can unintentionally push F&I managers to prioritize the wrong mix of product sales and finance reserves, which ends up hurting profitability without the dealership even noticing. That’s why a pay plan is one of the most powerful tools a powersports dealership has for guiding F&I behavior, reducing chargebacks, and making sure your customer is protected with the right products based on their needs. Ultimately, the right pay plan will drive stronger profit participation results and long-term profitability.
With years of powersports experience and access to nationwide and regional industry standards, EFG’s complimentary pay plan review includes:
- An unbiased review that removes any emotional attachment or internal bias to the current compensation structure design.
- A pulse on overall employee motivation, aligning compensation with behaviors that drive customer value, reduce turnover, and boost long-term profitability.
- Recommendations and review based on industry benchmarks and regional expertise, allowing you to implement some of the most effective strategies to reach your profit goals.
- A compensation structure that aligns with your ultimate objectives, which are growing profits, long-term wealth, and retaining top F&I talent.
At EFG, we’re offering a complimentary, no-pressure Pay Plan Review Voucher* to help your dealership identify ways to maximize long-term performance. This non-intrusive assessment reviews your dealership’s current compensation structure against industry standards to identify ways to improve your F&I pay plan. Our pay plan review can help you develop a compensation plan that benefits everyone – not just ownership. Create a culture where everyone is motivated to do their part, resulting in long-term profitability, talent retention, and ultimately customer satisfaction.
Want to learn more about scheduling your pay plan review? Connect with Adam Ouart on LinkedIn, or contact him directly at 972-249-7288, or by email at aouart@efgusa.com
*Pay Plan Review Voucher available to franchise dealers only who meet the required unit volume
