Covid 19 and Sales Compensation: Planning for 2021
Managing sales compensation in 2021 will require collaboration across disciplines, a willingness to make assumptions and adjust later, and an agile sales and compensation management process.
Plan communication templates
Please enjoy these templates, compliments of The Cygnal Group. Remember that we are not lawyers and cannot give legal counsel. Prepare your plan documentation including all relevant sections, then submit it to review by legal counsel in each applicable jurisdiction....Covid 19 and Sales Compensation: Adjusting Plans Mid-Year
With little understanding of the extent and duration of the unfolding situation, how should sales compensation plans be adjusted, and when?
What is the ROI on a sales compensation plans redesign?
A sales compensation design effort yields results in three areas: revenue increase, margin improvement, cost of compensation in relation to sales productivity. Be sure you know why you are changing your plans and what you hope to accomplish, and your plan design will be much more likely to yield improved results.
What is the Difference Between a Commission and a Bonus?
The difference is that the “commission” is communicated as a “piece of the action,” whereas a “bonus” is a fixed incentive amount offered for achieving a specific objective. Commissions and bonuses both have their place in sales compensation plans – but knowing when to use which one can be a bit tricky.