Steps to Great Incentive Compensation
Posted by Teanna Spence on Fri, May 22, 2009 @ 10:36 AM
Incentive Comp is one of the greatest levers you have to drive strategy. Here are 10 steps that will help motivate your sales team to deliver the results you need. Download the the printable PDF "10 Steps to Great Incentive Compensation," here.
I am going to give you a sneak peak here:
- Assemble the comp plan team.
- Identify the job roles that support your go-to-market strategy.
- Include all customer facing roles, not just sales people.
- Define 2-3 tangible measures for each role.
- Use a relevant mix and upside for each job role.
- Model your incentive compensation cost exposure.
- Set expectations with clear documentation.
- Pay correctly and on-time.
- Share performance stats with management and team members.
- Evaluate and make changes when necessary.
To download the full PDF 10 Steps to Great Incentive Compensation here.