Sales Compensation Plan Design
|Date / Time:
||5/2/2017 / 1:00 pm - 2:30 pm EST
An effective sales compensation plan can have an enormous impact on company success. A market competitive and motivational incentive plan that is focused on the right business results will spur your sales team to overcome obstacles and close the sales you need them to.
But, a poorly designed plan invites disengagement, turnover, and legal risk. And one size does not fit all: what works for one company can be disastrous for another.
This webinar takes you through the process of designing a sales compensation plan that is right for your company: one that drives your financial and strategic objectives, aligns with the responsibilities of each sales role, and considers key sales dynamics like one-time vs. recurring revenue, sales cycle length, and the volume and frequency of sales.
Fortunately, there is established methodology to guide the decisions and this material will take you through it.
Introduction to Sales Compensation
Designing a Sales Compensation Plan
- What Is Sales Compensation?
- How Sales Compensation Is Different From Other Forms of Compensation
- Objectives of Sales Compensation
Documenting and Communicating the Plan
- Setting Total Target Cash Compensation (TTC)
- Determining the Appropriate Salary Incentive Mix and Upside
- Selecting Performance Measures
- Determining Incentive Form: Commission or Quota-Bonus?
- Calibrating the Incentive Plan
- Payout Curves
- Commission Rates
- Setting Sales Crediting Rules
- Timing of Measurement and Payment
About The Presenter
- The Plan Document
- Communication Strategy and Tactics
- Plan Governance
- Director of Compensation Design at Canidium LLC, a consulting firm focused on designing and implementing sales performance management systems
- More than 20 years of sales compensation design consulting experience, across industries and across continents
- Prior to joining Canidium, he has held senior sales effectiveness and compensation positions at Towers Watson, The Alexander Group, and ZS Associates
- Has written articles for Workspan, Synygy magazine, and other publications, and conducted training seminars in the U.S. and overseas
- M.B.A. degree, with honors, University of Chicago; B.A. degree, Dartmouth College
Cannot Attend The Live Presentation?
This presentation is also available in a recorded format, in CD version, as shown in the pricing options below.
|About Webcasts / Audio Conferences / Podcasts:|
Webcasts, audio conferences, and podcasts are presentations that you
attend via the Internet, phone, or mobile device at a specified date and time for "live" versions, or at your convenience for "recorded" and "On-Demand" versions.
versions are interactive, meaning that participants can ask questions in real time, plus are a very cost-effective form of training because 1) you receive fast, convenient learning without
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at work immediately after the session ends!
And though with recorded versions you do lose the ability to ask questions, you gain the ability to hear the presentation numerous
times and to share it with others in your office.
Handout materials and the phone number for live presentations are made available to you prior to the event via email from the
presenter and from the "MyAccount" link on the menu bar. Copies of the presentations are included with recorded versions.
|About The Provider:
||Lorman Education Services has provided educational seminars and online training for professionals since 1987.
Since then, we've kept thousands of professionals in the United States and internationally current on the most pressing topics in a rapidly changing marketplace of ideas. Like you, we understand the need for concise, accurate information.
That understanding underlies each Lorman course, presenting the latest information on the laws and regulations critical to your organization's successful daily operations.
Moreover, each course receives our painstaking attention to be certain both the faculty and participants receive the individual attention necessary to achieve maximum benefit from the materials.
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