We help you match your incentives to your business strategy, motivate your teams to beat their targets, and attract top talent.
We work closely with you to assess your sales compensation programs, ensuring that they are clearly communicated, fully aligned to organizational strategies, consistent with corporate culture - and designed to attract, retain and reward valuable employees.
We test for simplicity, differentiation, accountability and attainability, ensuring your sales compensation strategy attracts top sales professionals, recognizes the significant role they play in the company’s business, aligns pay opportunity with the business objectives of the company - and creates an ongoing dynamic synergy between the sales employee and the organization. In short, we’ll tell you how you can get your incentives working harder.
We design sales compensation plans. We draw on deep sales strategy and reward expertise and experience to design compensation plans that are shaped around your business strategy and sales goals. We look at six critical areas:
When it comes to benchmarking our data is deep. We have unparalleled, comprehensive data on sales compensation and organizations – collected around the world and distributed across a wide range of industries and sectors including 10,000 compensation plans, 270,000 records on incentive payouts and sales headcount from over 16,000 organizations worldwide. We combine these insights with our consulting expertise to ensure you compensation plan is effective and competitive. So, you see the difference in your bottom line, hold on to high-performing sellers and raise your team’s engagement.
It is hard to overestimate the value of a comprehensive communications strategy when it comes to successfully implementing a new sales compensation plan. Sales forces are typically resistant to change, meaning that every new plan needs to be “sold” to the field.
We offer comprehensive, end-to-end solutions aimed at smoothly implementing and clearly communicating changes in sales force compensation strategies. We work with leadership to define the objective, evaluate current level of understanding and develop and implement a smart communications plan that ensures your sales team are crystal clear on how your rewards work. The result is maximum buy-in and minimal disruption, leading to smooth transitions with bottom line benefit - and a positive impact on corporate culture.
Sales compensation is the payment a salesperson receives for their work. It usually includes a base salary, commission, and additional monetary incentives to motivate a sales representative.
Sales compensation is an important factor in motivating your sales team. This is why choosing a sales compensation model that is targeted to your sales reps’ expectations as well as aligned with your company’s goals is a number one priority if you are pursuing sales growth.
Companies looking to improve upon their sales compensation plans often struggle to answer many of the same questions and manage the following difficulties:
These struggles are not unique but must be addressed to achieve effective sales management that supports the underlying business goals for the organization. This starts with sales departmental calibration and tightly aligning the objectives of sales management:
In our experience working with thousands of large, successful global companies, we've discovered that these three approaches often lead to the most effective sales compensation design:
1. Create transparency when designing sales compensation plans
2. Streamline sales compensation plans
3. Optimize current sales compensation plans
Once an organization decides it wants to move forward with a new or updated sales compensation design, they must follow a three-step process to support successful adoption and utilization:
Step 1: Assessment
We begin by collecting documentation around all sales strategy, sales process, compensation plans and verticals to establish the current objectives of sales management. By understanding your current practices, we can begin to shape recommendations for a go-forward strategy. Next, we conduct interviews with key stakeholders (leadership, sales, customers) while simultaneously reviewing past performance data to further understand the current efficacy of your sales compensation design. This often involves conducting a remuneration benchmark, a pay and performance analysis and assessing legal requirements for the organization.
Step 2: Validation
Once the data point collection concludes, we validate all information against market trends and practices to identify opportunities for change and agree on the new objectives of sales management that will drive your sales compensation design. Through this validation process, many organizations revise their sales compensation plan to include changes such as: aligning to new roles and buyer journeys; leveraging leading and lagging KPIs that measure performance; and emphasizing that top performers in the new environment will be recognized.
Step 3: Implementation
The implementation strategy for a new or revised sales compensation plan anchors a rollout strategy that includes a clear communication plan. Key tenets of that communication address, "What's in it for me?" for the individual salesperson. To sustain change to the sales compensation plan over time, organizations will monitor key metrics, regularly solicit feedback and modify or adjust as needed.