Effective Sales Incentive Compensation

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The Complete Guide to Sales Force Incentive Compensation

Author : Andris Zoltners
Publisher : AMACOM
ISBN 13 : 0814429726
Total Pages : 511 pages
Book Rating : 4.8/5 (144 download)

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Book Synopsis The Complete Guide to Sales Force Incentive Compensation by : Andris Zoltners

Download or read book The Complete Guide to Sales Force Incentive Compensation written by Andris Zoltners and published by AMACOM. This book was released on 2006-08-07 with total page 511 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

The Complete Guide to Sales Force Incentive Compensation

Author : Andris A. Zoltners
Publisher : Amacom Books
ISBN 13 : 9780814473245
Total Pages : 524 pages
Book Rating : 4.4/5 (732 download)

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Book Synopsis The Complete Guide to Sales Force Incentive Compensation by : Andris A. Zoltners

Download or read book The Complete Guide to Sales Force Incentive Compensation written by Andris A. Zoltners and published by Amacom Books. This book was released on 2006 with total page 524 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

The Complete Guide to Sales Force Incentive Compensation

Author : Andris A. Zoltners
Publisher : Amacom
ISBN 13 : 9780814437735
Total Pages : 496 pages
Book Rating : 4.4/5 (377 download)

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Book Synopsis The Complete Guide to Sales Force Incentive Compensation by : Andris A. Zoltners

Download or read book The Complete Guide to Sales Force Incentive Compensation written by Andris A. Zoltners and published by Amacom. This book was released on 2006-08 with total page 496 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Compensating New Sales Roles

Author : Jerome A. Colletti
Publisher : Amacom Books
ISBN 13 : 9780814471067
Total Pages : 417 pages
Book Rating : 4.4/5 (71 download)

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Book Synopsis Compensating New Sales Roles by : Jerome A. Colletti

Download or read book Compensating New Sales Roles written by Jerome A. Colletti and published by Amacom Books. This book was released on 2001 with total page 417 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

A Practical Approach to Sales Compensation

Author : Doug J. Chung
Publisher :
ISBN 13 : 9781680836844
Total Pages : 64 pages
Book Rating : 4.8/5 (368 download)

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Book Synopsis A Practical Approach to Sales Compensation by : Doug J. Chung

Download or read book A Practical Approach to Sales Compensation written by Doug J. Chung and published by . This book was released on 2020-06-04 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Practical Approach to Sales Compensation takes readers through the evolution of academic research on sales compensation. By examining the relevance of existing research, it provides practical guidance on the design of an effective compensation system. Furthermore, the monograph discusses how recent technological advances in artificial intelligence (AI) and machine learning (ML) shape sales strategy transformation and, thus, sales compensation systems of the future. After an introduction, Section 2 illustrates a practical outline for designing a sales compensation system and the associated dilemma that organizations often face. Section 3 examines the theoretical foundations of effective sales compensation structures and their validity--in particular, application of the principal-agent theory, which derives optimal compensation systems under the presence of agents' moral hazard. Section 4 addresses recent developments in field research: randomized field experiments jointly conducted by academics and organizations as well as structural econometric methods using micro-level performance and compensation data. Section 5 illustrates how advances in technology affect organizations' sales strategies and, thus, the challenges and opportunities in utilizing compensation structure to motivate salespeople.

Compensating the Sales Force: A Practical Guide to Designing Winning Sales Compensation Plans

Author : David J. Cichelli
Publisher : McGraw Hill Professional
ISBN 13 : 0071435972
Total Pages : 235 pages
Book Rating : 4.0/5 (714 download)

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Book Synopsis Compensating the Sales Force: A Practical Guide to Designing Winning Sales Compensation Plans by : David J. Cichelli

Download or read book Compensating the Sales Force: A Practical Guide to Designing Winning Sales Compensation Plans written by David J. Cichelli and published by McGraw Hill Professional. This book was released on 2003-09-22 with total page 235 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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

Effective Sales Incentive Compensation

Author : John Wilson Barry
Publisher : McGraw-Hill Companies
ISBN 13 :
Total Pages : 236 pages
Book Rating : 4.3/5 (9 download)

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Book Synopsis Effective Sales Incentive Compensation by : John Wilson Barry

Download or read book Effective Sales Incentive Compensation written by John Wilson Barry and published by McGraw-Hill Companies. This book was released on 1981 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Effective Sales Incentive Design for Distributors

Author : Mike Marks
Publisher : Natl Assn Wholesale-Distr
ISBN 13 : 1934014303
Total Pages : 137 pages
Book Rating : 4.9/5 (34 download)

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Book Synopsis Effective Sales Incentive Design for Distributors by : Mike Marks

Download or read book Effective Sales Incentive Design for Distributors written by Mike Marks and published by Natl Assn Wholesale-Distr. This book was released on 2012-04 with total page 137 pages. Available in PDF, EPUB and Kindle. Book excerpt:

What Your CEO Needs to Know About Sales Compensation

Author : Mark Donnolo
Publisher : AMACOM
ISBN 13 : 081443228X
Total Pages : 303 pages
Book Rating : 4.8/5 (144 download)

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Book Synopsis What Your CEO Needs to Know About Sales Compensation by : Mark Donnolo

Download or read book What Your CEO Needs to Know About Sales Compensation written by Mark Donnolo and published by AMACOM. This book was released on 2013-01-15 with total page 303 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mark Donnolo applies years of firsthand knowledge as a leading sales consultant for Fortune 500 companies to address the tough questions leaders should be asking. Featuring real lessons from the field and valuable thought models, What Your CEO Needs to Know About Sales Compensation enlightens you about how miscomprehension at the higher levels leads to fundamental misalignments between sales strategy and organizational goals. Insights from C-level executives showcase that the way a company designs its sales compensation program has a greater impact on behavior and results than any sales training, sales management method, or leadership message. Most tangibly, the book’s expert Revenue Roadmap identifies the four major competency areas and sixteen related disciplines that must connect for an organization to grow profitably: Insight Sales Strategy Customer Coverage Enablement By striking a happy balance between overcompensation and under compensation, your sales plan will gain the momentum needed to power the performance of the entire business.

Compensating the Sales Force: A Practical Guide to Designing Winning Sales Compensation Plans

Author : David J. Cichelli
Publisher : McGraw-Hill
ISBN 13 : 9780071411882
Total Pages : 288 pages
Book Rating : 4.4/5 (118 download)

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Book Synopsis Compensating the Sales Force: A Practical Guide to Designing Winning Sales Compensation Plans by : David J. Cichelli

Download or read book Compensating the Sales Force: A Practical Guide to Designing Winning Sales Compensation Plans written by David J. Cichelli and published by McGraw-Hill. This book was released on 2003-08-18 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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

Designing Effective Incentive Compensation Plans

Author : Sal DiFonzo
Publisher : Createspace Independent Publishing Platform
ISBN 13 : 9781508527725
Total Pages : 158 pages
Book Rating : 4.5/5 (277 download)

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Book Synopsis Designing Effective Incentive Compensation Plans by : Sal DiFonzo

Download or read book Designing Effective Incentive Compensation Plans written by Sal DiFonzo and published by Createspace Independent Publishing Platform. This book was released on 2015-12-15 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt: Drawing on two decades of compensation experience, Sal DiFonzo explores how to transition a firm from a traditional discretionary plan to a contemporary structured incentive compensation plan. The issues in this process can be complex, but DiFonzo simplifies them by taking the reader step-by-step through the rationale behind creating a structured incentive compensation plan, each phase of the creation process, and expert strategies for solving the issues that invariably arise with changes to compensation. While examples are drawn from the design and construction industry, firms from all industries seeking to drive strategy, engage employees and achieve success will find this book to be a valuable guide.

Incentives for Salesmen

Author : National Industrial Conference Board
Publisher :
ISBN 13 :
Total Pages : 136 pages
Book Rating : 4.3/5 (512 download)

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Book Synopsis Incentives for Salesmen by : National Industrial Conference Board

Download or read book Incentives for Salesmen written by National Industrial Conference Board and published by . This book was released on 1967 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Sales Incentive Compensation Management a Clear and Concise Reference

Author : Gerardus Blokdyk
Publisher : 5starcooks
ISBN 13 : 9780655343875
Total Pages : 294 pages
Book Rating : 4.3/5 (438 download)

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Book Synopsis Sales Incentive Compensation Management a Clear and Concise Reference by : Gerardus Blokdyk

Download or read book Sales Incentive Compensation Management a Clear and Concise Reference written by Gerardus Blokdyk and published by 5starcooks. This book was released on 2018-08-24 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt: How much does Sales Incentive Compensation Management help? Will Sales Incentive Compensation Management deliverables need to be tested and, if so, by whom? What management system can we use to leverage the Sales Incentive Compensation Management experience, ideas, and concerns of the people closest to the work to be done? What are the compelling business reasons for embarking on Sales Incentive Compensation Management? Is Sales Incentive Compensation Management currently on schedule according to the plan? This astounding Sales Incentive Compensation Management self-assessment will make you the established Sales Incentive Compensation Management domain authority by revealing just what you need to know to be fluent and ready for any Sales Incentive Compensation Management challenge. How do I reduce the effort in the Sales Incentive Compensation Management work to be done to get problems solved? How can I ensure that plans of action include every Sales Incentive Compensation Management task and that every Sales Incentive Compensation Management outcome is in place? How will I save time investigating strategic and tactical options and ensuring Sales Incentive Compensation Management costs are low? How can I deliver tailored Sales Incentive Compensation Management advice instantly with structured going-forward plans? There's no better guide through these mind-expanding questions than acclaimed best-selling author Gerard Blokdyk. Blokdyk ensures all Sales Incentive Compensation Management essentials are covered, from every angle: the Sales Incentive Compensation Management self-assessment shows succinctly and clearly that what needs to be clarified to organize the required activities and processes so that Sales Incentive Compensation Management outcomes are achieved. Contains extensive criteria grounded in past and current successful projects and activities by experienced Sales Incentive Compensation Management practitioners. Their mastery, combined with the easy elegance of the self-assessment, provides its superior value to you in knowing how to ensure the outcome of any efforts in Sales Incentive Compensation Management are maximized with professional results. Your purchase includes access details to the Sales Incentive Compensation Management self-assessment dashboard download which gives you your dynamically prioritized projects-ready tool and shows you exactly what to do next. Your exclusive instant access details can be found in your book. You will receive the following contents with New and Updated specific criteria: - The latest quick edition of the book in PDF - The latest complete edition of the book in PDF, which criteria correspond to the criteria in... - The Self-Assessment Excel Dashboard, and... - Example pre-filled Self-Assessment Excel Dashboard to get familiar with results generation ...plus an extra, special, resource that helps you with project managing. INCLUDES LIFETIME SELF ASSESSMENT UPDATES Every self assessment comes with Lifetime Updates and Lifetime Free Updated Books. Lifetime Updates is an industry-first feature which allows you to receive verified self assessment updates, ensuring you always have the most accurate information at your fingertips.

The Sales Compensation Handbook

Author : Stockton B. Colt
Publisher : Amacom Books
ISBN 13 : 9780814404119
Total Pages : 344 pages
Book Rating : 4.4/5 (41 download)

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Book Synopsis The Sales Compensation Handbook by : Stockton B. Colt

Download or read book The Sales Compensation Handbook written by Stockton B. Colt and published by Amacom Books. This book was released on 1998 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt: Updated and expanded, THE SALES COMPENSATION HANDBOOK contains information and tools necessary to design and implement top-notch sales compensation programs. Experts at the consulting firm of Towers Perrin provide guidance on all aspects of compensating salespeople, including designing base salary, bonus, and commission scales; team selling roles and implications; linking compensation to company culture; cash and non-cash incentives; and more.

Designing a Sales Compensation Plan; How to Create an Effective Incentives Program for Your Sales Force

Author : Vangelis Sakelliou
Publisher :
ISBN 13 : 9781838161620
Total Pages : 238 pages
Book Rating : 4.1/5 (616 download)

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Book Synopsis Designing a Sales Compensation Plan; How to Create an Effective Incentives Program for Your Sales Force by : Vangelis Sakelliou

Download or read book Designing a Sales Compensation Plan; How to Create an Effective Incentives Program for Your Sales Force written by Vangelis Sakelliou and published by . This book was released on 2019-01-16 with total page 238 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sales compensation plans are at the heart of sales management. When designed well, an incentives scheme becomes a tool that can be used to manage, nurture, motivate, and guide a sales team. When the scheme works correctly, it helps the sales team to thrive. An effective plan has a dual role: To align the sales activity to the company's objectives and to motivate sales people to perform or even go beyond reaching their targets. Sales is built around objectives. Nothing is left to chance - there are always objectives and targets to be met. These targets give salespeople a clear path to follow. They ensure that each salesperson knows their objectives, and can form a strategy for success. The incentives scheme lets salespeople know what reward they can expect if they reach their targets. It's a motivator - that's its core function.A sales compensation program cannot be designed in a minute. It takes time, resources and skills to make it efficient. Sales management understands that the consequences of a scheme designed improperly are negative and may lead to unfortunate circumstances. This book is helping design teams and sales management to avoid making these mistakes and trying to help them design a system that is effective from the beginning. Many people overlook that the design process involves many different decisions, from considering the sales roles that shall be rewarded and the employees eligible to get incentives for their job and successes to the decision on the target cash compensation for a role, how much of it shall be in variable and how much in fixed salary. The process requires an examination on whether to use a commission or a bonus scheme and why. It also needs to determine what type of goals shall the scheme incentivise and what is the weight for each measure. The book also includes vital information on additional aspects of the program that some people forget to consider such as its administration, operation and communication to the sales force.

The Complete Guide to Accelerating Sales Force Performance

Author : Andris A. Zoltners
Publisher : AMACOM/American Management Association
ISBN 13 : 9780814426166
Total Pages : 504 pages
Book Rating : 4.4/5 (261 download)

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Book Synopsis The Complete Guide to Accelerating Sales Force Performance by : Andris A. Zoltners

Download or read book The Complete Guide to Accelerating Sales Force Performance written by Andris A. Zoltners and published by AMACOM/American Management Association. This book was released on 2001 with total page 504 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

The Book on Incentive Compensation Management

Author : David Kelly
Publisher : Lulu.com
ISBN 13 : 0996081003
Total Pages : 198 pages
Book Rating : 4.9/5 (96 download)

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Book Synopsis The Book on Incentive Compensation Management by : David Kelly

Download or read book The Book on Incentive Compensation Management written by David Kelly and published by Lulu.com. This book was released on 2014-04-10 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt: Making Incentive Compensation Management - ICM - projects and operations more successful.