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Pay mix
How do we move our pay mix so that there’s more in the incentive and less in the base?
We need to offer a more meaningful incentive, but our base pay levels are too high. How do we make the transition?
Managing base pay for sales roles
If you’re going to have base pay, manage it, varying base pay levels to differentiate among people based on value-creating attributes that don’t change year over year.
Why is it important to set Target Total Compensation for a role?
Target Total Compensation (TTC) is the amount of pay that a role (not a person) is expected to earn at 100% of expected performance. This number is absolutely essential to developing sound compensation plans. Without it you will not know who is doing better than expected and who is doing worse. Compared to what?
Cost of compensation and pay mix – how do they work together?
Many sales leaders and CFOs feel there are real business benefits to a high-risk / high-upside comp plan, including a reduced cost of compensation overall. Turns out they’re wrong about the cost…
Keys to Success: Six Areas to Address in Your Next Sales Compensation Plan
Workspan, August 27, 2010 — It’s fall again, the economy appears to have shifted toward the positive in many sectors, and companies are thinking about redesigning their sales compensation plans for 2011. In order to ensure the redesign process and resulting plans will provide a good return, businesses should address six key areas.
Looking Ahead: Should We Make a Change?
Sales Compensation Focus, July 2010 – The economy appears to have taken a positive turn and many companies are starting to think about growth: hiring more sales reps, launching a new product, or breaking into a new market segment. One of the first questions that is raised when a company returns to growth mode, especially if there has been significant retrenching, is, “What should we do with our sales compensation plans?”
How is the economic uncertainty affecting pay mix?
Start by thinking about sales prominence. Has it changed? Do the sales people have more control over their own success, or less?
First Step of Sales Comp Planning: Define Roles
WorldatWork Sales Compensation Quarterly, Q3 2008 — “Why isn’t my incentive plan getting me the growth I need” is a common lament from the the VP of Sales to the President to the CEO. One of the main reasons may not have anything to do with your compensation plans, but may be more about the way your sales roles are defined…
How can I reward project managers who bring projects in on time and within budget?
This high-end residential remodeler wants to reward project managers who bring projects in on time and within budget. Given that they have a great deal of control over on-time, on-budget project completion, it was a great idea to provide them with incentives to make that happen.
Incentive plans for inside sales can be complex, depending on the situation, what should I be on the lookout for?
Before diving into a plan design for inside sales, you must first answer two questions: (1) What type of inside sales are they doing? (2) Do they qualify for the 7i exemption or are they non exempt employee?