video | April 26, 2016
Tackling 3 Major Questions About Your Compensation Plan
Does your sales compensation plan need a revamp? How should you be paying your people, especially those responsible for driving revenue growth? Watch here as we analyze compensation plans and discuss whether or not you should consider redesigning your sales incentives.
During the show we will explain what to look for before making any changes to your comp plan. We’ll start of by explaining why you need to take a look at your product strategy. Is it connected to the sales strategy? Because if not, no amount of changes to the comp plan will fix the problem. Instead we’ll explain how to get to the root of the problem. Because, then and only then, can you move to a properly designed incentive program to attract top talent and drive desired behaviors.
We’ll also explain how to evaluate new compensation plans. We’ll explain metrics to watch for, such as turnover before and after a comp plan change. We’ll explain why when evaluating compensation programs, you must look at all pieces of the puzzle. We’ll demonstrate how to analyze multiple points of data from several sources.
Creating effective compensation plans can be complicated and overwhelming. Watch here as we discuss how to do so effectively. We’ll show you how to use several data points, and factor in critical sales effectiveness drivers.