Compensating the Sales Force, Third Edition: A Practical Guide to Designing Winning Sales Reward Programs
Leverage the full power of your sales force with a cutting-edge compensation program
Third edition features updates to existing topics, as well as brand-new chapters on: Quota Allocation; Growth Phases and Industry Transition; Trends Data; Compensation Plan Costing; Solutions for Small Companies; Employment Status Changes; Corporate Sales Compensation Solutions.
Salespeople are motivated by many things―and how they’re paid tops the list. Sales compensation is one of the best tools for motivating any sales force and thus maximizing business revenue. Do you have strategically aligned sales compensation plans or are your pay plans holding back your sales force?
Compensating the Sales Force has helped thousands of business leaders worldwide create sales compensation programs that drive sales performance, increase revenue and trigger business growth. This third edition brings you fully up to date with new approaches for a business landscape where product/solution objectives and customer needs are in constant in flux.
This book provides everything you need to build an incentive plan that delivers real financial results. It takes you step-by-step through the process of setting target pay, selecting the right performance measures and establishing quotas. You’ll learn everything there is to know about:
- Why job content drives sales compensation design
- Methods for calculating formulas for payout purposes
- The roles of quota allocation, sales crediting and account assignment
- Compensating a complex sales organization and global sales teams
- Administering, monitoring and measuring the effectiveness of the program
An indispensable resource for anyone involved in sales compensation―from CEOs and sales managers to HR personnel to IT professionals―Compensating the Sales Force provides all the tools you need to design and implement a sales compensation plan that increases profits―and drives the sales team to exceed sales targets.