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3 Reasons Why Implementations Fail

/ By Jeff Condron

This is part 1 of the 3-part “Failure Series” of blogs, where we will take a deep dive into common issues that organizations face when implementing new systems and solutions. The goal is to gain an understanding of why implementations fail, the costs that are associated with failure, and ways to avoid failure altogether. Let’s start with taking a look at why implementations fail.

Failure is something that all people and organizations face at one point or another. It often necessitates learning or growth and enlightens a clearer path to success. That does not mean that failure should be viewed as acceptable. In fact, it should be avoided at all costs, especially when it involves core systems and new implementations.

A recent study by the Standish Group revealed that only 14% of IT projects are purely successful, meaning they are delivered on time, on budget, and with high customer satisfaction and high return on value for the organization. Conversely, 19% of IT projects are utter failures.

There are numerous reasons why implementations fail, and they can vary depending on the uniqueness of an organization, the specific industry it operates in, or just a basic misunderstanding of expectation versus reality. Regardless of the variables, failure can usually be traced back to 3 core reasons: understanding data, required resources, and third party implementation partners. Let’s take a closer look at all 3.

1. Understanding data:

Do I understand my data and is it readily compatible with the new solution?

Organizations are quick to pull the trigger on purchasing solutions without understanding the necessary nuances around their data. Where does it come from? When is it collected? How is it stored? What structure is it in? Are there integration requirements?

These are key elements that need to be known before implementation can begin and should be part of advanced planning that takes place during the browsing or buying process.  Unfortunately, they often get overlooked and when organizations are ready to begin implementing a new solution they purchased, they are abruptly met with issues that stem from the data.

Most commonly, data sources are incompatible with the new solution, the data format doesn’t match the required structure to flow into the new solution, and the many known and/or unknown data feeds prove difficult to reconcile with the new solution.

These and other similar issues delay or derail implementations completely. However, when you take the time to really understand what you have before you even begin looking for what you need, you can easily avoid them.

2. Required resources:

Are the right people available to ensure success?

There is always some degree of a learning curve when implementing a new system as users will need time to adjust to using it. To ensure that they keep timelines, hit deadlines, and continually build on their understanding and knowledge, it is important that these people are aware of their roles in the implementation and what will be required of them during the process.

Old roles do not necessarily translate to new functions. A person with the title of project manager may not have the aptitude to lead the implementation because they do not have the required skills or even time to dedicate. Prior to the kick-off of the implementation, the requirements of the project must be identified, and the right people must be evaluated and matched with their proper functions. When this does not happen, implementations stall.

People without proper knowledge or training get dropped and new people join the process, which results in uneven work and delays the project as the new people get acclimated. These disjointed efforts create gaps in completion or even cause oversights in key elements needed to properly test the solution. The more prevalent these are, the higher the risk of failure and abandonment of the project.

3. Third-party implementation partners:

Who does the implementation – me, my vendor, or a third party?

A key question that organizations often fail to ask when browsing for a new solution is “Who?” Who is going to be doing the implementation?

Some vendors partner with their buyers to do a collaborative implementation, while other vendors make the buyers do it 100% on their own. Conversely, there are also vendors that handle the implementation themselves for an additional cost. But in any scenario, there needs to be a firm understanding of whose responsibility it is.

What some vendors may not disclose is that when they handle implementations, they use third-party resources to do so. These third-party partners do not have the same knowledge of your organization. They are often not a part of the preliminary or planning talks and are simply assigned tasks. Therefore, they do not fully understand the challenges or issues your organization is looking to address with a new solution, and do not properly design the features of the software to align with your desired results.

As identified in #2 above, it is important to know who is involved in the project and what their role is. Managing an internal team is challenging enough but corralling additional people from a third party creates an unnecessary challenge. What we have seen from implementations that follow this path include collapses in communication, uncertainty around who is doing what, missed deadlines, and delayed delivery. This can cause friction, as faith in the project begins to falter and more problems arise than solutions. Many organizations walk away from failed implementations caused by third parties and wish they knew about them before purchasing.

It’s always exciting getting a shiny new toy, and sometimes we are so eager to have something that we don’t do the proper research ahead of time to make sure what we are buying is what we truly need. Understanding our own needs is crucial in ensuring that our expectations are met upon purchase. We should always do research, ask questions, and leave no stone unturned, especially when we are ready to make a large financial commitment that affects not only ourselves but the entirety of our organization. Understanding the reasons many implementations can fail will hopefully help avoid them in the future.

Stay tuned for the next article in this series where we will be looking at how a failed implementation can have serious costs associated with it, beyond just the bottom line.

In the meantime, here are a few examples of how organizations like yours successfully implemented no-code solutions and achieved outcomes beyond expectations.

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Shopping for Low-Code/No-Code Solutions – Quick Guide

/ By Megha Saravagi

The rise of low-code/no-code solutions is speeding up digital transformations across organizations. The low-code platform development market is estimated to grow from USD 13.2 billion in 2020 to USD 45.5 billion in 2025. Moreover, according to Gartner, low-code application platforms will account for 65 percent of all application development by 2024.

Pro tip: While ‘low-code development’ implies that applications can be built with minimal (low) programming, ‘no-code development’ allows users to create or modify applications without any programming knowledge. Today, both concepts are often grouped together in the ‘low-code’ category, but we’ll hear more about ‘no-code development’ as a category in its own right in the coming years.

This will allow non-technical users to use low-code/no-code platforms to build applications while organizations save money on technical expertise and on-site infrastructure. The resulting freed-up time will also allow them to improve the organization’s performance. However, with every new technology come certain risks that need to be managed and controlled to derive the full benefits.

With low-code/no-code solutions, organizations need to pay extra attention to potential risks associated with data security, auditing and compliance, scalability, and ease of use. So here’s what you need to be mindful of while evaluating one:

Data safety and security

One of the main concerns that any organization should have is how safe and secure their data will be. When looking for a low-code/no-code solution, first and foremost, invest time to understand if it is built on a secure platform and whether the vendor complies with data protection regulations. You also need to make sure you understand the vendor’s data backup policies and disaster recovery process in case of data loss or rewriting.

At the same time, you need to investigate how sensitive data will be handled – whether the solution provides the ability to ensure that its users can access only the information they are supposed to see. For example, not all employees working with HR systems need to access salary information pertaining to the entire organization. So access to this type of sensitive data should be limited to certain roles.

As data sensitivity differs from company to company, you need to make sure the solution provides the ability to set up roles and user restrictions as per your organization’s specific needs.

Reliability – know your vendor!

To ensure a successful solution use across the organization, it’s important to evaluate the vendor as well against three key criteria:

  • Compliance experience. The vendor you’re considering should be able to work with you to complete your security and legal compliance audits. However, some vendors might not work with client organizations that handle huge amounts of data with stringent control requirements. So be sure to investigate whether the vendor’s experience matches your business needs in this area.
  • Reliability. The vendor should be easily accessible and willing to work with you to resolve any issues. A reliable vendor provides quick access to support services and an efficient system to track all the support requests with defined SLAs based on ticket priority.
  • Expert guidance. The vendor should be able to guide you in the implementation process. They should also allow you to provide feedback on system constraints and the addition of new features and capabilities.

Solution scalability

Aside from making sure that the low-code/no-code solution can fulfill your current requirements, you also need to investigate whether it’s scalable enough to meet your future needs. So be sure to look into:

  • its ability to integrate with your current data sources;
  • what amounts of data it can load and process, and at what frequency and speed;
  • how new features are determined and how frequently upgrades are done.

Learning curve

Not all low-code/no-code solutions are easy to configure and deploy and may require a longer learning curve. So it’s important you assess the skills needed for implementing and using the solution you’re considering, evaluate them against your resources’ skills, and determine the associated learning curve. The support and guidance provided by the vendor – e.g., user documentation, training sessions, expert services to monitor the solution implementation, best practices, etc. –  are essential in this learning process. So make sure you evaluate the vendor from this perspective as well.

Just because we’re talking ‘low-code/no-code solutions’ doesn’t mean that shopping for one should be a risk-free process. But it shouldn’t be a daunting one either. By paying close attention to the four points above you will go a long way in making the right investment.

The Optymyze unified, no-code platform enables enterprises to solve the challenges posed by siloed systems and succeed at digital transformation. Learn how.

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5 Key Actions to Streamline ASC 606 / IFRS 15 Compliance

/ By P.T. Suryawanshi

When ASC 606/IFRS 15 was introduced, it not only shook the accounting world at that time but it continues to have reverberations across entire organizations even today. Companies reporting under the US GAAP or the IFRS accounting standards have had to go to great lengths to adapt their internal processes, with one area proving particularly challenging: commission expense accounting. Years later, challenges still persist for organizations trying to maintain compliance with these standards. Here, we outline 5 specific actions your organization can take to make compliance easier.

Aggregating sales commission data and identifying eligible contracts with customers are just some of the challenges that CFOs, accounting/finance specialists, and even sales operations professionals have struggled with in this area. And many are still struggling today.

What to do? To identify the right solution, we need to get a good understanding of the problem first. Let’s start with a brief overview.

ASC 606 / IFRS 15 overview: purpose, impact, and risks

In 2014, diverging areas of the US and international revenue recognition standards prompted the FASB and IASB to amend and converge their guidelines. The new ASC 606/IFRS 15 went into effect in 2018 for public companies, and 2019 for private ones. Their aim is to reduce financial reporting inconsistencies across industries and globally. This, in turn, ensures more accurate financial performance assessments of companies within and across industries.

Under ASC 606 / IFRS 15, organizations that pay commissions on revenue generated from contracts – other than insurance and lease contracts, and financial instruments – need to capitalize the incremental costs of obtaining a contract at inception, if the contract’s duration is longer than one year.

In other words, the associated commissions paid to salespeople can no longer be treated as a one-time expense. Instead, they must be treated as an asset that gets amortized over the duration of the contract. Importantly, the duration of amortization will vary depending on whether the contract is reasonably expected to be renewed.

Now, if a company fails to correctly recognize sales commission expenses under the amended guidelines, it may need to restate its earnings. This increases the risk that investors or customers will doubt the credibility of the company’s financial reports.

Likewise, at an operational level, if a company lacks visibility into contracts and associated sales commissions, it may not be able to systematically identify those that are eligible for amortization. This leads to inefficient and inaccurate accounting practices, making it difficult to comply with the new regulations.

Compliance is a shared responsibility

To mitigate these risks, multiple groups in the organization need to come together and understand how they can best support each other’s work under these regulations. From Finance to Sales, various roles need to join forces to ensure a seamless commission expense recognition management process. For example:

Compensation administrators

  • Must be able to identify contracts that span a period of more than one year.
  • Equally important, they must be able to differentiate between commissions paid to sales reps as opposed to supervisors, as they may need to be treated differently.

Sales Operations managers

  • Need to ensure access to detailed revenue and commission data at the customer, contract, and product level.
  • Above all, they need to ensure that compensation plans continue to motivate the right sales behaviors, as opposed to changing plans to make accounting easier.

Accounting / Finance managers

  • Must be able to trace amortized expenses back to contracts and track changes in assets over time.
  • In addition, they should ensure an auditable system of record.

CFOs

  • Must ensure an accurate accounting of commissions expenses, and a cost-effective auditing process.

The real compliance problem

Coordinating roles and responsibilities under these new regulations is difficult, but manageable. The real problem that many companies have not yet solved is equipping everyone involved with the right tools to streamline the process. As a result, they still struggle with:

  • Failure to correctly account for contracts and associated sales commissions;
  • Lack of visibility into contracts and sales commissions that are eligible for amortization;
  • Reliance on spreadsheets and manual processes to track sales commissions, which lead to errors and miscalculations.

5 key actions to take NOW to ensure a seamless ASC 606 / IFRS 15 compliance process

So ASC 606 / IFRS 15 compliance has proven to be a bear for many companies. But it shouldn’t be. Here are 5 key actions organizations can take to overcome compliance hurdles:

  1. Encourage solid partnerships between sales operations and accounting/finance teams and clearly communicate about everyone’s role in this process.
  2. Assess compensation, accounting and auditing practices, and internal controls, and update necessary systems and processes.
  3. Evaluate the ability of your systems to capture granular data and report amortized commissions in accordance with the new regulations.
  4. Determine the amortization method and analyze existing contracts to estimate their duration if they’ll potentially be renewed for an anticipated amount of time.
  5. Choose a business process automation solution that automates the commission expense recognition process, effectively addresses governance and compliance challenges, and ensures proper auditing going forward.

Learn how the Optymyze solution for Commission Expense Recognition (ASC 606 / IFRS 15) automates key business processes to ensure compliance with accounting standards. 

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no-code app development

4 Common Misconceptions about No-Code/Low-Code Platforms

No-code/low-code development has been around for a while, acting like a disruptive force across IT. However, as disruption triggers innovation, more enterprises have started to realize the advantages of using no-code/low-code solutions to fuel their digital transformation.

no-code app development

Not surprisingly, a recent industry report forecasts the low-code development platform market size to reach $46.4 billion in 2026, at a compound annual growth rate of 25%. The same industry analysts highlight numerous partnerships, mergers and acquisitions, product launches and expansions occurring amongst notable market players within this space.

Despite its rising popularity—or perhaps because of it—some common misconceptions still persist. Perceived downsides of limited no-code tools may have had some truth initially. However, now that the market has matured and several new competitors have flooded the space, there have been considerable improvements to no-code options. 

Still skeptical? Let’s further explore these 4 common misconceptions:

1. No code (or low code) is only made for building end-user applications  

No code is not only about building applications. Although, yes – there are more options to choose from if you’re simply shopping for a no-code application builder. However, there are veritable no-code or low-code solutions that perform other enterprise functions such as data warehousing; analytic data processing; and modeling and planning. In fact, it is likely that these are the market areas that will continue to grow and innovate in the next couple of years. 

Below are key players in the enterprise functions where no-code or low-code development has proven to work and to be a crucial game-changer for businesses—especially those struggling to find enough development and IT resources or wanting to better leverage their citizen developers. 

Cloud and Virtual Data WarehousingData and Analytic Processing AutomationCollaborative Modeling and PlanningUser Application Development
Snowflake (low code)Alteryx (low code)Anaplan (low code)ServiceNow (no code)
Optymyze (no code)

The “declarative programming” concept – telling the software what to do, instead of how to do it –that is embraced in a no-code development platform applies to any enterprise function. It is this declarative programming that drives no code’s signature speed and ease of use, providing endless options.

2. No code is anti-developer

No code may leave traditional developers feeling skeptical and perhaps even underappreciated.  There is certainly tons of press circulating about all the benefits of having citizen developers do work they used to perform. But most traditional developers should be self-aware enough to see how no-code development innovations benefit them.

There are voices suggesting that developers will organically shed their menial duties and take on the more advisory and strategic roles. Citizen developers will perform the easy tasks, while traditional developers’ work will be elevated to more specialized challenges: governance, security, compliance, and oversight of the change management processes.

With this organizational model, traditional developers will be able to increase their contribution levels, their value, and their pay.   

3. No code cannot scale; no code cannot handle big data

Not all no-code players are the same – some are able to handle big data, others not so much. So during the procurement process, it’s important to ask whether the solution you’re assessing is able to scale and handle big data needs for today and for the future. After all, it’s well known that big data is the future, and any no-code solutions that cannot handle large data sets run the risk of becoming obsolete. 

However, the question is not just about how much data the no-code development platform is able to store and process. It is also about how easily the platform integrates with an organizations’ existing data sources. Most companies have siloed data that exists in several other enterprise applications or legacy data systems. So a no-code platform that allows for easy data ingestion from various sources will certainly benefit them.

The best no-code platforms today offer built-in data integrations or some fast ways to ingest data in real time, as opposed to others that outsource the integration piece to third-party tools – an approach that, more often than not, creates additional work and challenges.

4. No code is inflexible  

As enterprise buyers evaluate a purchase, they also assess potential risks associated with any new enterprise solution. One common concern is getting stuck with an inflexible platform that does not cater to additional, unique needs that might arise in the future.

Fortunately, there are development platforms that are either 100% no code and flexible, or feature a combination of no-code setup standards and custom coding options. This means they allow for the possibility to interject custom code if and as needed.

These development platform companies have recognized the value of the 80/20 rule, and successfully implemented it. They have built no-code standards to address the needs of approximately 80% of the buyers without any customization and have also accounted for potential custom needs that 20% of the buyers might have.

There are no-code custom platforms that provide setup choices that allow for an unlimited number of no-code options to address custom needs. And there are hybrid ones that come with a combination of no-code and low-code setup choices that only present options for coded customization where necessary.

Development platforms that offer no-code standard options and no-code custom options are best equipped to address any requirements an enterprise may have now or in the future. These are the ones that allow you to choose out-of-the-box solutions, without being “stuck in the box” all the time.

Now, it’s time to put these misconceptions behind and make the most of the advantages that no code has to offer. Learn how Optymyze enables today’s enterprises to successfully reach their digital transformation goals.

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Advantages and Disadvantages of Different Sales Structures

When salespeople don’t perform at their best, leaders often point fingers at sales compensation or strategy – but these sorts of problems often stem from the company’s sales structure. Though it’s very important to craft a complex sales force structure that supports company growth, 9 out of 10 sales organizations are struggling to find the sales structure that best suits their particular needs.

Practically speaking, most organizations use some hybrid of the sales organization structures I’ll outline here, with sales force size and market segmentation serving as prime considerations. Every sales force structure has its own set of pros and cons, so it’s important to form a structure that supports your company’s goals.

Geographic Organizational Structure

This is also known as territorial sales force structure, and it means that the organization assigns each sales rep to a certain geographic area.

Advantages:

• Low cost
• Proper territory management leads to low geographic duplication of effort
• Low duplication of effort with customers (unless buyers are organizations that cross territories)

Disadvantages:

• Sales reps have a hard time developing product or market specialization (unless the organization commits to specialized sales forces allocated by geography)
Territory sizing can be a challenge, resulting in uneven revenue/opportunity across geographies

Product Sales Force Structure

In this alignment, the sales force’s area of responsibility is defined by the products or product groups, ignoring geographical lines.

Advantages:

• Sales reps develop product expertise
• Management can guide selling efforts

Disadvantages:

• Higher costs due to duplication of efforts within geographies and customer accounts
• Coordination required when more sales reps have the same geography/accounts

Market-Based Structure

This is also known as customer sales force structure, and it means that sales reps are grouped by customer or industry.

Advantages:

• Sales reps understand the needs of their customers and build stronger relationships
• Management control can be strategically allocated to different markets

Disadvantages:

• Higher costs
• Geographic duplication

Functional Structure

In this structure, responsibilities are divvied up according to everyone’s place in the sales process – inside sales, account managers, product specialists, and so on.

Advantages:

• More efficient selling activities

Disadvantages:

• Geographic duplication
• Customer duplication
• Greater need for coordination

Your Company Needs the Right Sales Structure

According to a Harvard Business Review survey, high-performing sales organizations have well-documented and explicitly structured sales processes. A clearly documented sales structure helps streamline the chain of command, and the increased transparency leads to more efficient decision-making.

Selecting the right sales force structure and documenting it thoroughly provides a host of organizational benefits:

  • Clarity of responsibilities across roles: sales reps know what responsibilities they have for different product lines and markets
  • Stronger coordination and communication: mobility for sales forces and increased time for actual selling
  • A more knowledgeable sales force: top sales reps are willing to share know-how
  • Improved decision-making transparency: sales managers share information on a regular basis and get faster buy-in when making changes
  • Reduced channel conflict and increased engagement: fewer disputes over new opportunities, more engagement towards achieving sales goals

Now you’re ready to start building the unique sales management structure that best fits your organization – helping you improve performance, adapt your sales compensation strategy, and drive sales growth.

Looking to boost your sales team’s performance? Optymyze enables you to drive sales performance with sales commission, territory, quota, and objective management.

Check out Optymyze solutions

Incentive Plan Ideas for Your Sales Team

A good incentive plan brings the sales team together to work toward a common goal while fostering a friendly atmosphere and healthy competition. Ideally, incentive plans should promote a desired behavior or result, but sometimes they miss the mark. It may be because they are lopsided, lack any genuine motivational element, or are simply uninspiring.

Incentive plans promote desired behaviors and bring the sales team together.

Sales managers and leaders are responsible for creating an effective incentive plan, and the key to it is rewarding the right behavior. Incentive programs are either monetary or non-monetary. The monetary programs are quite straightforward, as they are designed to reward certain behavior. The non-monetary incentive plans are more suited to increasing motivation, team bonding, and at times, employee retention.

Keys to a Successful Sales Incentive Program

A few things to keep in mind while developing the right incentive plans for your organization:

  1. Incent the behavior, not the result. To measure your employees’ performance versus their effort, tie their behavior to the incentive plan. For example, salespeople typically don’t enjoy maintaining regular time sheets, updating their pipeline, or scheduling follow-up tasks. They tend to take short cuts or even skip these tasks. Tying consistent behavior with incentives will encourage your team to complete these very necessary responsibilities.
  2. Create a sales incentive plan that helps everyone to succeed. Avoid creating plans that will only reward your top performers. Dig deep for parameters that will help turn the entire team into a productive sales unit. A good incentive plan motivates average and below average performers to push beyond their comfort zones. If your incentive plans consistently reward the same top salespeople, other reps may lose interest. For example, to engage every sales rep, include incentives for process compliance. That way the plan can reward even poor performers for achieving some type of objective. You can also create plans with many parameters, and assign each a varying degree of importance. For example:

This way all reps have something extra to work on besides their sales quotas. When they work on these parameters to qualify for the plan, they automatically work towards becoming better sales reps. You can decide the priority for your organization while designing the plan.

3. Set incentive timelines strategically. Sales incentive plans should have a specific timeframe that aligns with your department’s objectives. To support corporate interests, incentive plans can also be timed to coincide with sales cycles, performance appraisals and time-based performance goals.

4. Acknowledge the importance of failures. It is true that in the end, all that matters is the bottom line. But the path to the bottom line is paved with a lot of near-misses, unexpected losses, and outright rejections. Set up an acknowledgment program or even a small reward for someone who has heard the word “no” the most, to show that you appreciate the effort. Then ensure that rep gets the extra support required to close deals in the next cycle. Figure out if the rejection was due to a flaw in sales process execution or if it was just a rare case of bad luck. If it’s the former, set an internal target for lowering the rejection rate.

5. Build transparency into the plan. By publicly tracking data, especially metrics that sales reps can control, at any given time they will know their progress toward their goal.

6. Consider group incentives. Group compensation can be a way to increase productivity when sales reps are interdependent, such as in project-based jobs where team members must reach specific milestones before others on the team can advance. Often, with group-based incentives, individuals may perform at higher levels to not be perceived as letting down the team.

7. Recognize innovative approaches that increase sales productivity. If you see a sales rep employing a better way to execute a regular or recurring task, such as filing expense claims, acknowledge their innovation as fast as possible. Offer a reward or recognition or both to show your appreciation and encourage them further. See if you can implement this practice across the organization and increase overall efficiency!

Other best practices to keep in mind:

  • Make sure all performance levels are motivated 
  • Set challenging goals
  • Don’t cap commissions
  • Minimize the time between closing a deal and payout
  • Encourage peer recognition
  • Personalize incentives as much as possible

Monetary Sales Incentives Programs

Monetary plans: A monetary incentive plan is a no-brainer. It is the most popular, and maybe the most effective, way to incent and drive desired behavior. Here are some ways to offer cash incentives that can maximize the effectiveness and impact of the plan:

  1. Cash reward: So simple! And so fulfilling. A cash incentive plan is probably the best way to reward a desired behavior. It can be a part of the compensation plan for achieving goals or even to ensure compliance. Cash incentives may include project-specific bonuses, extra paid time off, profit sharing or stock options, planned bonuses (quarterly or linked to performance).
  2. Gift certificates and discounts: Discount on gym memberships or clubs, all expenses paid vacations, and meals at fancy restaurants are some examples of popular monetary incentive plans.
  3. Benefit plans: Some organizations choose to offer better or customized retirement plans or supplementary income building plans for their best performers. You can also tailor some benefit plans to a rep’s particular needs.

A monetary plan is the most effective way to incent and drive desired sales behavior.

Non-Monetary Sales Incentives Programs

Non-monetary plans: Human behavior is complex and often unpredictable, which is why monetary incentives sometimes end up promoting undesired behavior. For example, a sales rep who misses the mark by a small margin may end up feeling less motivated to participate in the next cycle. Hence, non-monetary incentive plans have their place in recognizing and driving desired behavior.

  1. Flexible hours: Flexible time is one of the most popular benefits you can offer to employees. Valued employees will appreciate the flexibility and the balance this brings to their lifestyle. This benefit costs nothing and helps retain talent.
  2. “On-the-spot” recognition: Offer an enterprise social network or collaboration system for sales reps to recognize each other. A quick way to pass on a ‘pat on the shoulder’ or a ‘fist bump’ that employees can use themselves, without formal approval, can increase employee engagement and interaction.
  3. Privilege: Everyone loves feeling special, and offering a privilege to your valued performer is a great way to show your appreciation and even earn some loyalty points. You can decide what kind of privilege will thrill your employees most. Some ideas:
    • Give away a prized parking space to your top performer of the month.
    • Let the best employee of the quarter dictate the Friday dress code for a month.
    • How about a long lunch with the chief executive?
    • Would your employees like to be treated like Kings or Queens for a month? If yes, then fashion a crown for the top performer.

Non-monetary incentive plans help convey recognition to top performers.

You can come up with the simplest or most intricate privileges that will make the employee feel special and recognized.

This small list of ideas can bring some zing into your current incentive programs. Incentive plans can be fairly simple or built with really complex structure and parameters – it is up to you to pick and implement the right plan to the right degree.

Looking for a sales commission system? Learn how the Optymyze solution for Sales Commission Management simplifies and automates the incentive compensation management process, yielding outcomes beyond expectations.

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