It is important for sales teams to be constantly looking at the market, how it is changing, competitive moves and be prepared to adjust strategy & the rewards as the situation dictates. In a recent blog posting by CSO Insights (http://www.csoinsights.com/), recent research of over 1300 companies suggests that almost 70% of companies review and change their sales comp plans annually while another 13 % will do so on a quarterly or monthly basis. Interestingly, these metric lines up closely with the number of companies that chose to automate the management of sales performance with a system like NetCommissions. While you certainly do not want to tinker with your plans too much, for those who are planning to take the time to sit down mid-year and examine how your comp plans are working thus far, the following three considerations may help keep your plans in line with industry best practice (there are many more than three, but hey, this is a blog and we need to keep it short & sweet).
Read More
Topics:
EVP/Sales Leader,
CFO/Finance Leader,
Sales Compensation Professional,
Human Resources
The vast majority of companies that are considering the use of a Sales Performance Management tool such as NetCommissions use an accrual basis of accounting as opposed to cash accounting. Accrual accounting requires that primary expenses, such as sales commissions, must appear on the income statement in the same period that the sales is reported, no matter when the commissions are actually paid.
Read More
Topics:
Sales Performance Reporting,
CFO/Finance Leader,
Sales Compensation Professional,
Human Resources,
Sales Operations
A recent discussion at one of the groups over at LinkedIn was focused on rewards for a 100% commission sales force. As usual, the discussion meandered around talking about various aspect of sales performance management until a reference to Glengarry Glen Ross rekindled a classic movie moment for anyone who has seen the movie;
Read More
Topics:
EVP/Sales Leader,
Communication/Reporting,
CFO/Finance Leader,
Sales Compensation Professional,
CEO,
Human Resources,
Sales Professional
The following is a distillation of a recent, quite lively, dialog on LinkedIn amongst several practitioners in the sales compensation world. Given the importance of the investment companies make in sales compensation, this topic merits our attention.
Read More
Topics:
EVP/Sales Leader,
Sales Compensation Professional,
Human Resources,
Sales Professional
Insights gleaned from recent research by NewSigma published as part of their inaugural 2011 Sales Compensation Survey reinforce the need for strong communication strategies if your sales compensation process is going to truly be a catalyst for delivering on aggressive sales growth goals.
Read More
Topics:
EVP/Sales Leader,
Communication/Reporting,
CFO/Finance Leader,
Sales Compensation Professional,
Human Resources,
Sales Professional,
ROI
Over 75% of businesses today rely on an array of homegrown solutions such as spreadsheets, desktop databases and IT developed solutions to automate the process of calculating and reporting on sales compensation. These companies are in the majority and quite often hit many of the same issues over time as the folks that call NetCommissions. We’ve put together a checklist of the top 10 warning signs that you may be outgrowing your sales comp process. Here are a couple of those top ten;
You have serious concerns about the accuracy and timeliness of your commission checks.
Read More
Topics:
EVP/Sales Leader,
Communication/Reporting,
CFO/Finance Leader,
CEO,
Human Resources,
Accuracy,
Timeliness
