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: 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 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: Stockton B. Colt
Publisher: Amacom Books
ISBN: 9780814404119
Category : Business & Economics
Languages : en
Pages : 344
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Book Description
Updated and expanded, THE SALES COMPENSATION HANDBOOK contains information and tools necessary to design and implement top-notch sales compensation programs. Experts at the consulting firm of Towers Perrin provide guidance on all aspects of compensating salespeople, including designing base salary, bonus, and commission scales; team selling roles and implications; linking compensation to company culture; cash and non-cash incentives; and more.
Author: Mark Donnolo
Publisher: AMACOM/American Management Association
ISBN: 0814432271
Category : Business & Economics
Languages : en
Pages : 290
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Book Description
Featuring insightful interviews with Fortune 1000 C-level executives and real lessons from the field, this essential book reveals the tough questions leaders should be asking about how sales incentives drive the business.
Author: Doug J. Chung
Publisher:
ISBN: 9781680836844
Category : Business & Economics
Languages : en
Pages : 64
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Book Description
A Practical Approach to Sales Compensation takes readers through the evolution of academic research on sales compensation. By examining the relevance of existing research, it provides practical guidance on the design of an effective compensation system. Furthermore, the monograph discusses how recent technological advances in artificial intelligence (AI) and machine learning (ML) shape sales strategy transformation and, thus, sales compensation systems of the future. After an introduction, Section 2 illustrates a practical outline for designing a sales compensation system and the associated dilemma that organizations often face. Section 3 examines the theoretical foundations of effective sales compensation structures and their validity--in particular, application of the principal-agent theory, which derives optimal compensation systems under the presence of agents' moral hazard. Section 4 addresses recent developments in field research: randomized field experiments jointly conducted by academics and organizations as well as structural econometric methods using micro-level performance and compensation data. Section 5 illustrates how advances in technology affect organizations' sales strategies and, thus, the challenges and opportunities in utilizing compensation structure to motivate salespeople.
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: A. Zoltners
Publisher: Springer
ISBN: 0230514928
Category : Business & Economics
Languages : en
Pages : 401
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Book Description
This book focuses upon the role of the sales force in today's changing world and how to design a sales force for strategic advantage. It includes sections on how to assess the current sales force design and how to implement change and covers customer segmentation, market strategy, structuring and sizing, alignment, metrics and managing change.
Author: Steve Marley
Publisher:
ISBN: 9780985343651
Category :
Languages : en
Pages :
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Book Description
Written by the world's leading sales compensation experts, ZS Principals Chad Albrecht and Steve Marley, The Future of Sales Compensation explores and explains how best-in-class sales compensation programs might look in the future. The book includes forward-looking insights that will help managers think differently about how they design, implement, communicate, and support their sales comp plans.
Author: David Cichelli
Publisher:
ISBN: 9781735864648
Category :
Languages : en
Pages : 342
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Book Description
Now in its 8th edition! The 2022 Sales Compensation Almanac provides the latest trends, resources and insights into sales compensation solutions. Sales compensation is an important management tool, yet needs constant attention. Excellent designs one year may give way to necessary updates and revisions the following year. Sales compensation stakeholders, including executive management, sales leaders, finance and HR professionals, are often looking for specific resources, survey findings and publications to address sales compensation design and administration challenges. The Sales Compensation Almanac provides the latest research and resources in this space.Featured Sections: Sales Compensation Trends Survey, Sales Compensation Hot Topics Survey, Sales Compensation Multiyear Trends, Reference Guide to Sales Compensation Surveys, Sales Compensation Administration Vendors Guide, Sales Compensation Education Resources, Case Studies, Whitepapers, Articles Listing.
