Phase 10: Compensation Planning
Develop an incentive compensation program that stays within the corporate budget, attracts/retains top talent and motivates the desired behavior.
You need to design and execute effective compensation programs. Creating effective compensation plans can be a complicated and overwhelming process. To do it well requires the analysis of data from multiple sources, factoring in critical sales effectiveness drivers such as territory potential and quota setting.
- Benchmark assessment by role
- Compensation plan by role
- Compensation calculator by role
- Automation technology
- Communication plan
- Financial models
- Comp committee approvals
With compensation levels now set, it is time to move on to Phase 11: Sales Enablement.