Automating Sales Compensation," part of the How-To for HR Professionals line of books, is useful for anyone responsible for the success of a sales compensation program. And, because most companies don’t have just one person who has overall responsibility, this book is designed for everyone who participates in the process.
This booklet explains the following aspects of designing an effective sales compensation plan: linking the sales compensation plan to business strategy; establishing the design team; assessing the current plan; designing the new plan; implementing the new plan; and evaluating results.
In the past three decades, the world of compensation and benefits has experienced a revolution. And, while the role of today's total rewards professionals has become more strategic and business oriented, some fundamentals of the job will always hold true. One such fundamental is math.
This book is intended to educate HR generalists, compensation professionals, and consultants -- both internal and external -- who from time to time are asked to participate in the design and implementation of a sales compensation plan. Additionally, this book allows the HR generalist to have a ready resource available for members of the company's sales compensation plan design team -- both operating executives and staff managers.
New and updated information including plan communication, governance and administration guidance, enhances this classic guide's value as a reference tool. The premise for this book, however, remains unchanged: Not all people want to be sales compensation-wizards. Rather, they need to acquire authoritative and practical information about sales compensation, so they can be confident with the matter at hand. That's where this field guide comes in handy.
Today's sales organizations are multifaceted and require multiple sales jobs with different responsibilities coupled with intricate forms of measurement and compensation. Accordingly, complex systems are required to help manage these organizations, and many companies struggle with the basic tenets of how to motivate and reward a sales organization.
Sales Compensation experts, Jerry Colletti, Mary Fiss, and Mark Davis have combined forces to create a book that applies appropriate techniques and formulas related to each factor of sales compensation (determining pay levels, pay mix, incentive design and calculating payouts) that is consistent with both best practices and generally accepted principles.
The sales compensation plan is one of the more powerful tools that top executives use to direct, motivate and reward the salesforce for its contribution to business success. Knowing when and how to align sales teams and compensation programs are key issues -- not only for sales, but for the overall company. And, because it is simply not practical or appropriate to use a single (or even a few) sales incentive plans across multiple divisions, geographies and sales roles, taking a global focus is an imperative for today's sales compensation professionals.