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Course/Product Description
Title:

Best Practices in Commission Pay Plans

SKU:WC-1015327
Date / Time: Recorded
Format: Webinar
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Description:

There are few management tools that work as well in recruiting, directing, motivating and retaining sales people as a strong commission plan. This is critical because sales people are often highly paid, remote from headquarters and entrusted with customer relationships (very valuable assets). A properly designed commission plan clearly and personally communicates the strategy of the organization to resources that have direct impact on financial performance.

The design and deployment of a new commission plan can create a 5-10 percent uplift in revenue in a single year. However, mistakes in commission plan design are quite common and can have disastrous effects on performance.

Help your company avoid sales force turnover, dissatisfied customers, runaway expense and in worst cases, litigation, by understanding the core elements and decisions in commission design, management and optimization.

Aon Hewitt's Sales Force Effectiveness Practice leader will introduce a framework to help make large, complex, cross-functional decisions about commissions smaller and simpler. This audio conference will also use real company examples to highlight best and worst practices.

Agenda:

Issues With Commissions in Today's Market

Methods and Metrics for Commission Program Assessment
  • Root Business Issues
  • Building a Scorecard From Guiding Principles
  • Gaining Consensus on Redesign
Steps to Strategic Commission Plan Design
  • Competitiveness – Level, Mix, Upside
  • Execution – Eligibility, Performance Metrics, Goals, Formula Mechanics
  • Administration – Crediting Rules, Payment Frequency, Policies
Broader Governance of Commission Plans
  • Accuracy
  • Accountability
About The Presenter:

Scott Sands
  • Sales Force Effectiveness Practice leader for Aon Hewitt, a global consulting firm with 60,000 employees
  • 20 years of experience in professional services and specific expertise in market segmentation, sales process improvement, sales organization design, sales role definition, goal and quota allocation, and incentive plan design
  • Consulted with companies in technology, pharmaceutical, insurance, banking, energy and professional services industries
  • Co-wrote Sales Compensation Essentials, the WorldatWork’s bestselling book of 2006 on the subject, and speaks at many national conferences
  • M.B.A. degree, focus in marketing and organizational effectiveness, The University of Texas; B.E. degree in electrical engineering and mathematics, Vanderbilt University


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.

The live 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 any out-of-office time; 2) you can invite as many colleagues as you'd like to listen in on a single phone line; 3) you incur no travel expenses; and 4) you and your colleagues are back 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.
More Info: Contact Us For More Information
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