The Complete Guide to Sales Force Incentive Compensation PDF Download
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Author: Andris Zoltners
Publisher: AMACOM
ISBN: 0814429726
Category : Business & Economics
Languages : en
Pages : 511
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Book Description
A well-designed and implemented incentive program is an essential tool for building a motivated, highly effective sales force that delivers the results you need. Incentive programs are seductively powerful but complicated instruments. Without careful planning and implementation, they can be too stingy to motivate, too complex to understand, too quick to reward mediocre results, and too difficult to implement. The Complete Guide to Sales Force Incentive Compensation is a practical, accessible, detailed roadmap to building a compensation system that gets it right by creating motivating incentives that produce positive outcomes. Packed with hundreds of real-life examples of what works and what doesn't, this important guide helps you: Understand the value of building an incentive plan that is aligned with your company's goals and culture. Avoid the common trap of overusing incentives to solve too many sales management problems. Measure the effectiveness of your current incentive program, employing easy-to-use tools and metrics for pinpointing its weak spots. Design a compensation plan that attracts and retains successful salespeople, including guidelines for determining the correct pay level, the best salary incentive mix, the proper performance measures, and the right performance payout relationship. Select an incentive compensation plan that works for your organization -- then test the plan before it is launched. Set territory-level goals that are fair and realistic, and avoid overpaying the sales force or demoralizing salespeople by having difficult goals or not fairly assigned. Create and manage sales contests, SPIFFs (Special Performance Incentive for Field Force), and recognition programs that consistently deliver the intended results. Manage a successful transition to a new compensation plan and build efficient administration systems to support your plan. Filled with ready-to-use formulas and assessment tools and a wealth of insights from frontline sales managers and executives, The Complete Guide to Sales Force Incentive Compensation is your hands-on, easy-to-read playbook for crucially important decisions.
Author: Andris Zoltners
Publisher: AMACOM
ISBN: 0814429726
Category : Business & Economics
Languages : en
Pages : 511
Get Book Here
Book Description
A well-designed and implemented incentive program is an essential tool for building a motivated, highly effective sales force that delivers the results you need. Incentive programs are seductively powerful but complicated instruments. Without careful planning and implementation, they can be too stingy to motivate, too complex to understand, too quick to reward mediocre results, and too difficult to implement. The Complete Guide to Sales Force Incentive Compensation is a practical, accessible, detailed roadmap to building a compensation system that gets it right by creating motivating incentives that produce positive outcomes. Packed with hundreds of real-life examples of what works and what doesn't, this important guide helps you: Understand the value of building an incentive plan that is aligned with your company's goals and culture. Avoid the common trap of overusing incentives to solve too many sales management problems. Measure the effectiveness of your current incentive program, employing easy-to-use tools and metrics for pinpointing its weak spots. Design a compensation plan that attracts and retains successful salespeople, including guidelines for determining the correct pay level, the best salary incentive mix, the proper performance measures, and the right performance payout relationship. Select an incentive compensation plan that works for your organization -- then test the plan before it is launched. Set territory-level goals that are fair and realistic, and avoid overpaying the sales force or demoralizing salespeople by having difficult goals or not fairly assigned. Create and manage sales contests, SPIFFs (Special Performance Incentive for Field Force), and recognition programs that consistently deliver the intended results. Manage a successful transition to a new compensation plan and build efficient administration systems to support your plan. Filled with ready-to-use formulas and assessment tools and a wealth of insights from frontline sales managers and executives, The Complete Guide to Sales Force Incentive Compensation is your hands-on, easy-to-read playbook for crucially important decisions.
Author: Andris A. Zoltners
Publisher: AMACOM/American Management Association
ISBN: 9780814426166
Category : Business & Economics
Languages : en
Pages : 504
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Book Description
To boost your sales group's performance, give your salespeople very specific assessments and instructions, as per authors Andris A. Zoltners, Prabhakant Sinha and Greggor A. Zoltners. The trouble here is that the instructions are not only detailed, they are highly technical. You have to see sales as a science to make the best use of the graphs, charts, lists, diagrams and formulas. If you can make your way through the academic writing, you'll find some useful hard data, such as statistical evidence that backs the need for precise sales performance assessments. Despite its lengthy retelling of some very basic sales principles, getAbstract.com recommends this manual to the audience its authors suggest, "sales managers, top managers, salespeople who want to advance professionally, divisional presidents and business owners" plus business school students. If you're going to be academic, you might as well learn something.
Author: David J. Cichelli
Publisher: McGraw Hill Professional
ISBN: 0071435972
Category : Business & Economics
Languages : en
Pages : 235
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Book Description
Compensating the Sales Force is a uniquely jargon-free, how-to guide to all major sales compensation concepts and formulas. Using real-world examples, guru David J. Cichelli: Helps readers select the right compensation strategy for their firm Provides step-by-step guidance to implementing various approaches Simplifies the mathematical formulas that are a thorn in most manager's side
Author: David Hoffeld
Publisher: Penguin
ISBN: 0143129333
Category : Business & Economics
Languages : en
Pages : 289
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Book Description
The Revolutionary Sales Approach Scientifically Proven to Dramatically Improve Your Sales and Business Success Blending cutting-edge research in social psychology, neuroscience, and behavioral economics, The Science of Selling shows you how to align the way you sell with how our brains naturally form buying decisions, dramatically increasing your ability to earn more sales. Unlike other sales books, which primarily rely on anecdotal evidence and unproven advice, Hoffeld’s evidence-based approach connects the dots between science and situations salespeople and business leaders face every day to help you consistently succeed, including proven ways to: - Engage buyers’ emotions to increase their receptiveness to you and your ideas - Ask questions that line up with how the brain discloses information - Lock in the incremental commitments that lead to a sale - Create positive influence and reduce the sway of competitors - Discover the underlying causes of objections and neutralize them - Guide buyers through the necessary mental steps to make purchasing decisions Packed with advice and anecdotes, The Science of Selling is an essential resource for anyone looking to succeed in today's cutthroat selling environment, advance their business goals, or boost their ability to influence others. **Named one of The 20 Most Highly-Rated Sales Books of All Time by HubSpot
Author: David J. Cichelli
Publisher: McGraw Hill Professional
ISBN: 1260026825
Category : Business & Economics
Languages : en
Pages : 352
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Book Description
Leverage the full power of your sales force with a cutting-edge compensation program Salespeople are motivated by many things—and how they’re paid tops the list. Sales compensation is one of the best tools for motivating any sales force and thus maximizing business revenue. Do you have strategically aligned sales compensation plans or are your pay plans holding back your sales force? Compensating the Sales Force has helped thousands of business leaders worldwide create sales compensation programs that drive sales performance, increase revenue, and trigger business growth. Now, this new edition brings you fully up to date with new approaches for a business landscape where product/solution objectives and customer needs are in constant in flux. Sales guru David Cichelli provides everything you need to build an incentive plan that delivers real financial results. He takes you step-by-step through the process of setting target pay, selecting the right performance measures, and establishing quotas. You’ll learn everything there is to know about: •Why job content drives sales compensation design •Methods for calculating formulas for payout purposes •The roles of quota allocation, sales crediting, and account assignment •Compensating a complex sales organization and global sales teams •Administering, monitoring, and measuring the effectiveness of the program An indispensable resource for anyone involved in sales compensation—from CEOs and sales managers to HR personnel to IT professionals—Compensating the Sales Force provides all the tools you need to design and implement a sales compensation plan that increases profits―and drives the sales team to exceed sales targets.
Author: WorldatWork
Publisher: John Wiley & Sons
ISBN: 1119682444
Category : Business & Economics
Languages : en
Pages : 421
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Book Description
Equip yourself to manage, motivate, compensate, and reward everyone in this workplace revolution The future of work is here. From the shift to Millennials and Gen Z in the workforce to the advent of the Fourth Industrial Revolution and the Gig Economy, the world of work and rewards has significantly changed since the initial WorldatWork Handbook was published. Human resources and total rewards professionals need tools to equip them to manage a changing workforce. This completely revised second edition addresses the challenging and disruptive issues facing employers today and tomorrow. The WorldatWork Handbook of Total Rewards is the definitive authority on compensation and rewards from the leading global nonprofit organizations for professionals who are engaged in the critically important practice of total rewards. This book is a go-to resource for all business professionals and leaders who reward and create productive, committed and inspired workforces worldwide. Readers will learn the basics of rewards, along with a deep dive and high-level view of how rewards programs enable organizations to deliver on their brand promises and perform at their optimal level. Gain a thorough understanding of compensation and benefits, along with employee well-being, development, and recognition, all updated to address the realities of today’s workplace. Understand why the Millennial and Gen Z workforce requires a different value proposition, and how to meet their needs. Discover the tools and techniques you need to help you reskill and become a highly valued workforce contributor and leader in the digital era. Learn how to attract, retain, and engage talent by building a healthy workplace culture and employing unique incentives that drive high performance and loyalty. Technical enough for specialists but broad in scope for managers and HR generalists, this well-rounded resource belongs on the desk of anyone interested in organizational effectiveness. An indispensable tool for understanding and implementing the total rewards concept, The WorldatWork Handbook of Total Rewards, Second Edition is the key to designing programs and practices that ensure employee engagement and organizational success.
Author: Mike Kunkle
Publisher: Association for Talent Development
ISBN: 1952157633
Category : Business & Economics
Languages : en
Pages : 235
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Book Description
The Ultimate Sales Framework for Achieving Business Success Sales enablement is no longer the new kid on the block. Having grown rapidly in recent years, it’s now considered a best practice at many sales organizations. But there’s little alignment across the sales profession on what sales enablement is or how to achieve it, nor is there a formalized strategy on what a sales enablement practice is or requires. In his new book The Building Blocks of Sales Enablement, sales enablement expert Mike Kunkle addresses these issues and presents a proven approach that both supports sales talent and achieves true business results. Kunkle lays out an easy-to-follow structure through the concept of building blocks, interconnected by systems thinking and supported by a consistent cadence of training, coaching, and content. Comprehensive and versatile, this book is for senior sales leaders and sales enablement leaders who are starting or evolving a sales enablement function as well as for struggling sales practitioners to use as a diagnostic tool and road map. Chapters detail how to use each building block, with reflective questions and guidance for creating your own analysis and tools. The book also includes a chapter on sales onboarding, separate chapters on how to integrate communication and support services, and recommended resources. Impactful sales enablement projects are basically change management initiatives in disguise. Use the building blocks framework to navigate challenges, measure successes, and determine a path forward to improving business outcomes.
Author: David J. Cichelli
Publisher: McGraw Hill Professional
ISBN: 0071742352
Category : Business & Economics
Languages : en
Pages : 316
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Book Description
Can you handle SUCCESS? With business growth come great things—larger market share, increased revenue, happy shareholders. However, sustaining revenue growth is seldom easy. Sales departments must quickly and seamlessly change sales strategies and tactics to grow sales. Unfortunately, sales departments are often ill-equipped to make the right changes at the right time. At long last, a solution to this common problem is at hand. It’s called the Sales Growth ModelTM. Created by David Cichelli and his team at the Alexander Group, a leading sales effectiveness consulting company, the Sales Growth Model explains how to keep sales results improving during all phases of market maturity. In The Sales Growth Imperative, Cichelli uses his game-changing approach to help you anticipate impending challenges and take the right action, enabling the growth to continue— and the sales department to flourish. He shows you the four stages of business growth and illustrates the challenges of each one: STAGE 1: START–UP Growth at an accelerating rate Challenges: adding additional selling capacity STAGE 2: VOLUME GROWTH Growth at a declining rate Challenges: finding new customers, keeping current ones, and launching new products STAGE 3: RE-EVALUATION Little to no growth Challenges: price management and cost reduction STAGE 4: OPTIMIZATION Profitable revenue growth Challenges: new value proposition, reaching new markets, and specialization As growth rates change, new sales solutions are necessary. You need to anticipate and execute your own successful sales strategy accordingly. Don’t let growth become an obstacle to success. the culmination of 30 years of experience consulting for such companies as FedEx, Verizon, American Express, HSBC, and Starbucks, the Sales Growth Model is the only way to ensure smooth sailing through the surprisingly troubled waters of success. “David’s expertise regarding compensation and sales effectiveness is clearly articulated in The Sales Growth Imperative. This book outlines effective tools that can be used at each stage of your business growth.” —Bruce Dahlgren, Senior Vice President, Managed Enterprise Solutions, HP Imaging and Printing Group “Interested in growing your sales? David Cichelli has crafted a comprehensive guide marketing professionals can use to understand and work effectively with their sales teams. . . . If you are in marketing and need to work with your sales force, get this book!” —John L. Graham, Professor of Marketing, The Paul Merage School of Business, University of California, Irvine
Author: Andris A. ZOLTNERS
Publisher: AMACOM Div American Mgmt Assn
ISBN: 0814410421
Category : Business & Economics
Languages : en
Pages : 498
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Book Description
Sales force effectiveness drives every company's success, but keeping a sales organization at the top of its game is a constant challenge. As experts in the field, Andy Zoltners and Prabha Sinha have helped sales leaders around the world perfect their sales strategy, operations, and execution. Combining strategic insight with pragmatic advice, Building a Winning Sales Force provides current and aspiring sales leaders with innovative yet practical solutions to many of the most common issues faced by today’s sales organizations. The book shows readers how to: assess how good their sales force really is • identify sales force improvement opportunities • implement tools and processes that have immediate impact on sales effectiveness • attract and retain the best salespeople • design incentive compensation plans • set goals • manage sales performance • motivate the sales force With practical advice and case studies of companies that have conquered even the most challenging obstacles, Building a Winning Sales Force will enable every company to drive sales and stay competitive.
Author: Mark W. Johnston
Publisher: Routledge
ISBN: 1317359984
Category : Business & Economics
Languages : en
Pages : 1076
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Book Description
In this latest edition of Sales Force Management, Mark Johnston and Greg Marshall continue to build on the tradition of excellence established by Churchill, Ford, and Walker, increasing the book’s reputation globally as the leading textbook in the field. The authors have strengthened the focus on managing the modern tools of selling, such as customer relationship management (CRM), social media and technology-enabled selling, and sales analytics. It’s a contemporary classic, fully updated for modern sales management practice. Pedagogical features include: Engaging breakout questions designed to spark lively discussion Leadership challenge assignments and mini-cases to help students understand and apply the principles they have learned in the classroom Leadership, Innovation, and Technology boxes that simulate real-world challenges faced by salespeople and their managers New Ethical Moment boxes in each chapter put students on the firing line of making ethical choices in sales Role Plays that enable students to learn by doing A selection of comprehensive sales management cases on the companion website A companion website features an instructor’s manual, PowerPoints, and other tools to provide additional support for students and instructors.
