Sales Compensation Design – Developing Incentive Plans that Work
Sales Compensation Design – Developing Incentive Plans that Work
Build sales compensation plans with the right formulas that drive sales success!
Sales strategies change because products and services change. As a result, sales plans become obsolete. Sales compensation professionals need to be able to assess the effectiveness of existing plans and then develop the correct formula to ensure that their programs are successful.
Content rich, this course will teach you how to develop sales compensation programs that motivate sales personnel to exceed your company’s objectives! You will learn how to assess current plan effectiveness and select the right pay mechanics. You will also learn how to communicate the new sales program to your sales team in order to gain their support and generate excitement.
It’s time to employ best of breed in your sales compensation design processes. Bringing together the science and art of sales compensation design, you will ensure that your sales compensation program remains current, contemporary and effective year-after-year.
Discover how growth rate drives sales job design which affects incentive plans
Learn how to balance incentive plans with your pay programs
Identify best practices sales compensation design principles
Review and apply incentive formulas
Learn about motivation principles that can guide design practices
Find out how to configure a sales compensation design team
Learn how to manage a sales compensation support program
Enhance your learning experience! 24/7 Blended Learning provides you with the flexibility and convenience of e-learning AND interaction with colleagues and subject matter experts as you'd experience in a traditional classroom.
Meeting your specific business needs — WorldatWork delivers our popular seminars to your place of business, when you want it…customized to your unique needs.
Email onsite@worldatwork.org or call all 480-304-6980 to find out how you can bring this class to your location.
Identify how sales strategy and growth phase affects sales compensation planning.
Demonstrate how sales job content drives sales compensation solutions.
Identify the five “classic” variable compensation programs.
Describe how management philosophy affects compensation planning.
Describe how the growth phase affects sales compensation design choices.
Key Sales Compensation Principles
Describe key sales compensation principles.
Identify “center practice” for each of the design principles.
Describe how each principle affects other principles.
Assess how your company is applying these sales compensation design principles.
Sales Compensation Formulas
Describe the five types of incentive formulas.
Know the difference between commission and bonus formula.
Calculate a commission formula.
Calculate a bonus formula.
Define and use the concept of “linkage.”
Select the right base salary management program.
Describe special design choices.
Assessment—Design—Implementation—Management
Assess the current sales compensation plans.
Follow a proven design process.
Ensure effective implementation of the new pay plans.
Recommend ongoing program management methods.
Who Should Register
This seminar is designed for professionals involved in designing, implementing and administering sales compensation plans, including sales, human resources, finance and marketing.
For traditional classroom courses, a print binder will be available for pick up on site the day of the seminar. E-learning and Blended Learning course materials can be found online within the product. To download course material amendments, view class rosters and to find out what to bring to your class, please visit www.worldatwork.org/seminars.
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Get the best of both worlds and more! Combining learning and study preferences, Blended Learningleverages independent e-learning and collaborative traditional classroom experiences with access to additional resources.
24/7 access provides greater convenience and flexibility
Class discussion board allows access to peers and subject matter expert
Study when time allows
Integration of group and independent study
No “out of office” time needed
No travel expense.
Components of Blended Learning
All Blended Learning classes include a class discussion board, other components available within Blended Learning will vary in order to deliver the best learning experience possible. Classes may include access to components such as:
Course Credits
