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Explain why changes are needed. When reps understand the issues and are consulted, they are more likely to buy into the solution.
How to Introduce New Sales Compensation Plans
Get Nimble Again
Best Practices: Adjusting Compensation Plans for Inflation
How to Make Each Sales Associate a Profit Center
View each sales associate as if he or she were an individual company. (Your firm as a whole is then like a big conglomerate.)
Test Your Sales Force Compensation IQ
See how much you know about sales force compensation – take the following 10- question quiz. Answers are given at the end... if you have any questions please contact us!
Top 4 Ways to Supercharge Your Sales Recruiting
Don't be intimidated if you pay less. Three-quarters of the time, sales associates leave a company for reasons other than money. Explain your value proposition; stress the services that you offer and the strengths of your firm.
BIG Hat, NO Cattle? | Thriving in a Market Downturn
Is your business all hat and no cattle? In other words, are you focusing on increasing revenue at the expense of profit?
Applying Strength-Based LEAN Six Sigma to Sales Compensation
Can applying a strength-based LEAN Six Sigma methodology augment and improve sales force compensation plan development? In short; YES.
Traditional LEAN Six Sigma
The traditional application of the LEAN Six Sigma method for sales force compensation begins by defining the pain, conflict, and waste in a company’s sales compensation strategy. But focusing on problems saps motivation and has negative effects on sales staff retention.
Instead of conducting a LEAN Six Sigma analysis with the hope of correcting a perceived problem and an ultimate return to the even-keel state of business mediocrity, a strength-based approach draws attention to the strengths of the company as well as the sales team, and subsequently initiates changes that encourage continuous improvement and growth of both the company and individual sales representatives.
Top 4 Things To Avoid When Applying LEAN To Sales Force Compensation
When compensation plans are structured correctly, it is possible to achieve all of your goals at the same time. Sales people can be paid the maximum possible while ensuring that corporate expenses are covered and profitability goals reached. Goals of the sales team and executive management can be aligned, with it being clearly in everyone’s interest to maximize revenue and control expenses.