Incentive compensation is one of the most powerful tools at a sales organization’s disposal when it comes to influencing sales behavior and improving sales performance. In fact, research shows that 60% of sales representatives report that nothing has a more profound effect on their selling behaviors with new customers.
An identical percentage of companies will make changes to their incentive compensation plans over the next two years. In fact, compensation plans are subject to constant change – and a company’s ability to rapidly design and roll out plan adjustments in reaction to competitive threats, new products, or market changes is essential to organizational success.
Watch our short video to find out how anticipating changes to the incentive compensation planning process and keeping plans up to date can help you reach your goals: – anticipate change and add flexibility to your design process – make sure each process’ timeline and potential impact are clearly understood – conduct process-planning sessions to minimize risks and validate data – use variables such as date ranges or field lengths to easily integrate future changes – free up time for your staff by automating processes
Are you evaluating SPM solutions?
The SPM space is dominated by six recognized leaders, all providing mature solutions. To get to the essence of the differences between them and bring more clarity to your assessment, check out this SPM competitor analysis that focuses on core solution capabilities.