This class presents the fundamentals for the design and implementation of sales compensation plans tailored to a company’s business strategy. Emphasis is placed on the special terminology and issues that make sales compensation unique from other incentive plans. Participants are presented with several design options and related information in order to assess which sales compensation approaches may be appropriate for a given company. Participants are also introduced to critical implementation factors including financial modeling of the proposed plan, employee communication and plan assessment over time.
Discuss sales compensation rationale, value and uniqueness.
Identify the key influences to all sales compensation plans.
Discover the six key components of a basic sales incentive.
Find out how to introduce a new or revised incentive plan to the sales force.
Review why sales incentive plans fail and ways to determine if your plan is working properly.
The course is designed for compensation and sales administration personnel relatively new to the sales compensation field and who are involved in designing, implementing and administering sales compensation plans.