Complete Guide To Sales Force Incentive Compensation
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Author | : Andris Zoltners |
Publisher | : AMACOM |
Total Pages | : 511 |
Release | : 2006-08-07 |
Genre | : Business & Economics |
ISBN | : 0814429726 |
A well-designed and implemented incentive program is an essential tool for building a motivated, highly effective sales force that delivers the results you need. Incentive programs are seductively powerful but complicated instruments. Without careful planning and implementation, they can be too stingy to motivate, too complex to understand, too quick to reward mediocre results, and too difficult to implement. The Complete Guide to Sales Force Incentive Compensation is a practical, accessible, detailed roadmap to building a compensation system that gets it right by creating motivating incentives that produce positive outcomes. Packed with hundreds of real-life examples of what works and what doesn't, this important guide helps you: Understand the value of building an incentive plan that is aligned with your company's goals and culture. Avoid the common trap of overusing incentives to solve too many sales management problems. Measure the effectiveness of your current incentive program, employing easy-to-use tools and metrics for pinpointing its weak spots. Design a compensation plan that attracts and retains successful salespeople, including guidelines for determining the correct pay level, the best salary incentive mix, the proper performance measures, and the right performance payout relationship. Select an incentive compensation plan that works for your organization -- then test the plan before it is launched. Set territory-level goals that are fair and realistic, and avoid overpaying the sales force or demoralizing salespeople by having difficult goals or not fairly assigned. Create and manage sales contests, SPIFFs (Special Performance Incentive for Field Force), and recognition programs that consistently deliver the intended results. Manage a successful transition to a new compensation plan and build efficient administration systems to support your plan. Filled with ready-to-use formulas and assessment tools and a wealth of insights from frontline sales managers and executives, The Complete Guide to Sales Force Incentive Compensation is your hands-on, easy-to-read playbook for crucially important decisions.
Author | : Andris A. Zoltners |
Publisher | : Amacom Books |
Total Pages | : 524 |
Release | : 2006 |
Genre | : Business & Economics |
ISBN | : 9780814473245 |
Designing an incentive plan to turn sales reps into sales superstars! If you're like most sales leaders, your incentive program is a constant challenge, as you try to jumpstart sales, energize a geographically dispersed and autonomous workforce, and motivate salespeople to achieve ambitious revenue goals. And sometimes it seems like you just don't know what works; your products and markets are changing, the incentive program that was so successful last year no longer produces the desired results, or perhaps the generous incentive program you created has yielded a corps of highly paid salespeople who spend most of their time on existing clients and minimal time generating new business -- and threaten to walk away with your customer base if you scale back paychecks! Incentive programs are seductively powerful but complicated instruments. Without careful planning and implementation, they can be too stingy to motivate, too complex to understand, too quick to reward mediocre results, and too difficult to implement. But a well-designed and implemented incentive program is an essential tool for building a motivated, highly effective sales force that delivers the results you need. The Complete Guide to Sales Force Incentive Compensation is a practical, accessible, detailed roadmap to building a compensation system that gets it right by creating motivating incentives that produce positive outcomes. Packed with hundreds of real-life examples of what works and what doesn't, this important guide helps you: Understand the value of building an incentive plan that is aligned with your company's goals and culture. Avoid the common trap of overusing incentives to solve too many sales management problems. Measure the effectiveness of your current incentive program, employing easy-to-use tools and metrics for pinpointing its weak spots. Design a compensation plan that attracts and retains successful salespeople, including guidelines for determining the correct pay level, the best salary incentive mix, the proper performance measures, and the right performance payout relationship. Select an incentive compensation plan that works for your organization -- then test the plan before it is launched. Set territory-level goals that are fair and realistic, and avoid overpaying the sales force because goals are too easy, or demoralizing salespeople by having goals that are too difficult or not fairly assigned. Create and manage sales contests, SPIFFs (Special Performance Incentive for Field Force), and recognition programs that consistently deliver the intended results. Manage a successful transition to a new compensation plan and build efficient administration systems to support your plan. Every year, corporations spend $200 billion compensating their sales forces, with extremely mixed results. Make sure every dollar you spend is helping to achieve your goal of creating an empowered, effective sales force that drives your company's success. Packed with ready-to-use formulas and assessment tools and a wealth of insights from frontline sales managers and executives, The Complete Guide to Sales Force Incentive Compensation is your hands-on, easy-to-read playbook for crucially important decisions.
Author | : Andris A. Zoltners |
Publisher | : Amacom |
Total Pages | : 496 |
Release | : 2006-08 |
Genre | : Business & Economics |
ISBN | : 9780814437735 |
The Complete Guide to Sales Force Incentive Compensation is a practical, detailed roadmap to building a fair compensation system by creating motivating incentives that produce positive outcomes. Packed with ready-to-use formulas and assessment tools and a wealth of insights from frontline sales managers and executives, the book is your hands-on, easy-to-read playbook for payment decisions.
Author | : David J. Cichelli |
Publisher | : McGraw Hill Professional |
Total Pages | : 235 |
Release | : 2003-09-22 |
Genre | : Business & Economics |
ISBN | : 0071435972 |
Compensating the Sales Force is a uniquely jargon-free, how-to guide to all major sales compensation concepts and formulas. Using real-world examples, guru David J. Cichelli: Helps readers select the right compensation strategy for their firm Provides step-by-step guidance to implementing various approaches Simplifies the mathematical formulas that are a thorn in most manager's side
Author | : Andris A. Zoltners |
Publisher | : AMACOM/American Management Association |
Total Pages | : 504 |
Release | : 2001 |
Genre | : Business & Economics |
ISBN | : 9780814426166 |
To boost your sales group's performance, give your salespeople very specific assessments and instructions, as per authors Andris A. Zoltners, Prabhakant Sinha and Greggor A. Zoltners. The trouble here is that the instructions are not only detailed, they are highly technical. You have to see sales as a science to make the best use of the graphs, charts, lists, diagrams and formulas. If you can make your way through the academic writing, you'll find some useful hard data, such as statistical evidence that backs the need for precise sales performance assessments. Despite its lengthy retelling of some very basic sales principles, getAbstract.com recommends this manual to the audience its authors suggest, "sales managers, top managers, salespeople who want to advance professionally, divisional presidents and business owners" plus business school students. If you're going to be academic, you might as well learn something.
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Release | : 2006 |
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Author | : Jerome A. Colletti |
Publisher | : Amacom Books |
Total Pages | : 417 |
Release | : 2001 |
Genre | : Business & Economics |
ISBN | : 9780814471067 |
This guide explains why sales forces are evolving, which jobs need to be redefined, how to design and implement a state-of-the-art compensation plan that directs, motivates and rewards employees who perform effectively and how to measure the success of the plan.
Author | : James F. Carey |
Publisher | : McGraw-Hill Professional Publishing |
Total Pages | : 346 |
Release | : 1992 |
Genre | : Business & Economics |
ISBN | : |
Author | : A. Zoltners |
Publisher | : Springer |
Total Pages | : 401 |
Release | : 2004-06-25 |
Genre | : Business & Economics |
ISBN | : 0230514928 |
This book focuses upon the role of the sales force in today's changing world and how to design a sales force for strategic advantage. It includes sections on how to assess the current sales force design and how to implement change and covers customer segmentation, market strategy, structuring and sizing, alignment, metrics and managing change.
Author | : Mark Donnolo |
Publisher | : AMACOM/American Management Association |
Total Pages | : 290 |
Release | : 2013 |
Genre | : Business & Economics |
ISBN | : 0814432271 |
Featuring insightful interviews with Fortune 1000 C-level executives and real lessons from the field, this essential book reveals the tough questions leaders should be asking about how sales incentives drive the business.