Best Practices in Commission Pay Plans
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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.Methods and Metrics for Commission Program Assessment
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.
Issues With Commissions in Today's Market
Steps to Strategic Commission Plan Design
- Root Business Issues
- Building a Scorecard From Guiding Principles
- Gaining Consensus on Redesign
Broader Governance of Commission PlansAbout The Presenter:
- Competitiveness – Level, Mix, Upside
- Execution – Eligibility, Performance Metrics, Goals, Formula Mechanics
- Administration – Crediting Rules, Payment Frequency, Policies
- 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.
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