With New years Resolution #1 aimed at improving the clarity with which you report and communicate sales performance to your sales and executive teams, it makes sense to be sure that the results and data which we are communicating are as accurate as possible.
Sales Performance Management Best Practices Blog
New Years Resolution #2; Improve Accuracy of Sales Comp Calculations
Topics: Sales Comp Plan Fundamentals, EVP/Sales Leader, CTO, CFO/Finance Leader, Sales Compensation Professional, CEO, Human Resources, Sales Operations, Sales Professional, Accuracy
New Years Resolution #1; Improve Sales Performance Reporting
It's that time of the year again and I have no doubt the list of things you would like to improve and accomplish in the new year is long. As a manager, one of the improvements that can have a massive payback on your companies health is to improve the way you report performance to your sales team. Feedback from surveys on Sales Performance Management by WorldatWork & OpenSymetry tells us that for at least 75% of us, there is a tremendous opportunity to improve reporting Sales Performance to your organization. Here are some quick 'take aways' from the survey.
Topics: Sales Comp Plan Fundamentals, EVP/Sales Leader, Sales Performance Reporting, Communication/Reporting, CTO, CFO/Finance Leader, Sales Compensation Professional, Human Resources, Sales Operations
Non-Cash Incentives as part of your Sales Compensation Strategy
Much has been written about the role of Non-Cash incentives as an employee motivational tool. This approach provides tangible rewards that don't directly involve cash as an incentive for achievements that align with corporate goals.
Topics: Sales Comp Plan Fundamentals, EVP/Sales Leader, CFO/Finance Leader, Sales Compensation Professional, CEO, Human Resources, Sales Operations, Sales Professional
Is your Sales Performance Management process earthquake proof?
Topics: Sales Comp Plan Fundamentals, EVP/Sales Leader, CTO, CFO/Finance Leader, Sales Compensation Professional, CEO, Human Resources, Sales Professional
How to use your sales compensation plan to boost sales performance
Topics: Sales Comp Plan Fundamentals, EVP/Sales Leader, CFO/Finance Leader, Sales Compensation Professional, CEO, Human Resources, Sales Professional
Five key steps in putting together a world class SPIF / SPIFF program
Topics: SPIFF, Sales Comp Plan Fundamentals, EVP/Sales Leader, CFO/Finance Leader, Sales Compensation Professional, Human Resources
Using spreadsheets to calculate Sales Commissions? been there done that ....
I thought I'd share a few good sales spreadsheet horror stories for you to share at your next campfire
Topics: Sales Comp Plan Fundamentals, EVP/Sales Leader, CTO, CFO/Finance Leader, Sales Compensation Professional, CEO, Human Resources, Sales Professional
Is quota setting the Achilles heel of your sales commission process?
Topics: Sales Comp Plan Fundamentals, EVP/Sales Leader, CFO/Finance Leader, Sales Compensation Professional, CEO, Human Resources, Sales Professional, Sales Quota
Sales Compensation Pro's; are you tracking Compensation Cost of Sales?
A comment made by Marco Madero of Aon Hewitt at a recent regional meeting of the Sales Management Association really piqued my interest when he referenced some survey data that indicated only 15% of companies actually track Compensation Cost of Sales (CCOS). My preliminary research seemed to back that statement up and I thought it would be a great time to take a closer this very powerful metric and discuss some of the nuances to using this as a means of identifying key trends within your sales organization.
Topics: Sales Comp Plan Fundamentals, EVP/Sales Leader, CFO/Finance Leader, Sales Compensation Professional, CEO, Human Resources
How many reps are, or should be, hitting their sales quota?
The process of setting sales quota is a mission critical element of many sales compensation processes, those involved put in a lot of work and are very happy when its complete. Sales Incentive plans are so dependent on accurate targets that the following data and Best Practices should provide great fodder for reflection and hopefully plant the seeds for some process improvement efforts within your own company. Setting accurate sales quota is a process which is commonly identified as a leading issue that most struggle to do well.
Topics: Sales Comp Plan Fundamentals, EVP/Sales Leader, CFO/Finance Leader, Sales Compensation Professional, CEO, Human Resources, Sales Quota