The business realities of tightening budgets, global markets, and shifting strategies (particularly with the advent of new, groundbreaking digital technologies), are creating new challenges, complexities and opportunities for sales organizations. Sales roles are continually being redefined, and experienced talent is becoming a scarce commodity. This is causing smart, forward-thinking organizations to explore new sales compensation program strategies and designs that will keep the experienced professionals they have and attract new, dynamic talent to the organization.
At Korn Ferry, we leverage deep sales strategy expertise to design sales compensation plans that align to business strategy, leverage existing talent and accelerate sales. We take into account the unique nuances of compensation strategy to define a six-component approach:
- Job roles – We clearly define relevant job roles, job role definition, incentive eligibility and critical success factors by role.
- Target pay levels – Setting appropriate pay levels and bands through strategy and benchmarking can be the difference between success and failure.
- Mix and upside – An appropriate balance between fixed and variable pay creates financial security with meaningful upside.
- Measures and weights – What are key performance measures, and how much weight is placed on each?
- Mechanics and links – We properly establish the mechanics and links, ensuring clear understanding earnings after they make a sale.
- Quota setting and attainment - We use market potential, targets by job and performance based factors to avoid improperly set quotas or targets.
WHY KORN FERRY?
- We value information. Our research-focused approach targets benchmarking and applicable data to provide critical context for our strategies and solutions.
- We have depth of experience. Our unparalleled sales force effectiveness and sales compensation experience gives us unique knowledge and insight.
- Our approach is proven. Our methodologies and tools have been applied and fine-tuned through years of application and assessment.
- We add value. Each of our solutions is designed to have holistic impact and directly affect the bottom line.