This blog post is the third in a three-part series analyzing important sales compensation research.
Now that we’ve examined recent research on the success of team incentives and cash vs. non-cash incentives, let’s look into the efficacy of continuous vs. lump sum payments.
Read MoreTopics: incentives, sales compensation, motivation, bonus plan, sales comp, payouts, sales comp design, research review blog series
Many are familiar with that key scene in the movie Jerry Maguire, in which football player Rod Tidwell shouts, “Show me the money!” In the movie, Tidwell’s agent, Jerry, attempts to convince Tidwell that he must be more flamboyant if he wants to make more money. Football is entertainment, not just a sport. Up until that iconic line, Tidwell disagrees and feels that he should be paid purely on his athletic performance and ability.
Topics: sales compensation, sales force effectiveness, sales performance, sales comp, sales compensation design, sales performance management, stakeholders
As you finalize your 2018 sales compensation plan, you likely have a list of guiding principles that steer your plan design decisions, such as fairness, fiscal responsibility and the ability to administer. But two guiding principles stand above all others:
Read MoreTopics: sales, sales strategy, sales comp, sales force motivation, ROI, sales comp plan, sales comp design, Energy
About this time every year, we get lots of calls from people in a panic: “Our sales compensation plan is broken. Do I still have time to fix it for 2018?” The answer is yes, but you’re running out of time.
Read MoreTopics: Incentive plan design, Incentive compensation, sales comp, salespeople, benchmarks, change management, sales comp plan, sales comp design, 2018
Mayank Gupta co-wrote this blog post with Mike Martin.
Over the past couple of years, there has been significant buzz within compensation circles around customizing and personalizing incentives. The motivating factors range from accounting for multiple generations in the workforce to accounting for local differences in salesperson geographies. One insurance company went so far as to have its salespeople set their own goals. The result was a 10% higher forecast than headquarters was expecting, along with a more empowered sales team.
Read MoreTopics: Incentive compensation, sales incentive plan, sales comp, sales force motivation, personalization, sales comp plan, Impact Summit, sales force empowerment, customization, Energy
This blog post is the third in a three-part series analyzing important sales compensation research.
Now that we’ve examined recent research on the success of team incentives and cash vs. non-cash incentives, let’s look into the efficacy of continuous vs. lump sum payments.
Many are familiar with that key scene in the movie Jerry Maguire, in which football player Rod Tidwell shouts, “Show me the money!” In the movie, Tidwell’s agent, Jerry, attempts to convince Tidwell that he must be more flamboyant if he wants to make more money. Football is entertainment, not just a sport. Up until that iconic line, Tidwell disagrees and feels that he should be paid purely on his athletic performance and ability.
As you finalize your 2018 sales compensation plan, you likely have a list of guiding principles that steer your plan design decisions, such as fairness, fiscal responsibility and the ability to administer. But two guiding principles stand above all others:
About this time every year, we get lots of calls from people in a panic: “Our sales compensation plan is broken. Do I still have time to fix it for 2018?” The answer is yes, but you’re running out of time.
Mayank Gupta co-wrote this blog post with Mike Martin.
Over the past couple of years, there has been significant buzz within compensation circles around customizing and personalizing incentives. The motivating factors range from accounting for multiple generations in the workforce to accounting for local differences in salesperson geographies. One insurance company went so far as to have its salespeople set their own goals. The result was a 10% higher forecast than headquarters was expecting, along with a more empowered sales team.
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