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Of all the questions, this is what remains in the minds of sales leaders and the executive team. Often the cause of more debate and anxiety than other questions in the business. People look for gold answers, but their search will not provide certainty because it all depends on what you want to achieve.
The current wisdom is that while there is a 'best practice' framework to create ideal sales executive incentive schemes, it is not an approach 'one size fits all.
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While remuneration surveys can provide several pointers, they are not a reliable or accurate predictor of what you have to pay.
According to Solderbeck, a specialist in sales incentive programs, most companies fall when it comes to designing, implementing, or building a solid foundation for their sales incentive plan.
Designing a sales incentive plan received the most attention from sales managers and HR.
Even when the design is first class, the execution plan is usually under resources and is not managed properly, resulting in plans too expensive to be managed or too complicated to work.
Before you start designing and running a plan, you need to build a solid foundation. What are the goals and principles that support compensation strategies? Most companies failed to answer this question because there was no consistent, strong, and documented agreement throughout the business about what the foundation was.