Compensation Models to Drive Sales Performance
One of the biggest (and continuous) challenges for any Sales Organisation is to ensure that it's compensation model is fair, motivational, and cost effective. The compensation plan needs to encourage the right sales behaviours. It needs to incentivise the Rep who brings in the new accounts, and also compensate the Account Manager who up-sells or cross sells to the existing client. What about the customer service agent in the who created that introduction that lead to a six figured sale - should they be compensated? On top of this, Ireland's unemployment rate is currently running at 6.4% and is still dropping. In many sectors, there is a shortage of suitable sales talent, and this is putting pressure on the organisation to adjust it's compensation model.
Trying to find the best way to compensate your sales team can be very tricky, and also means you need to factor issues in such as
- Which commissions model will work best for you?
- Will in drive sales?
- Will it attract and retain talent?
- How will you set parameters for performance?
- What will you measure?
- How do you measure that performance?
- How many of your sales people should be on target - if your compensation model is fit for purpose?
- What is the ideal Base Salary to OTE ratio?
- Should retention get the same commission percentage rate as new business developers?
- Should you pay for collaboration on a deal?
For The answers to this an more…. join us at this event where Noel Paton, Regional Sales Manager at Xactly - the world's leading sales compensation experts, and Karin Berlin, Economist from Oracle, who advises on 'go to market and compensation compensation strategies - will share best practices and latest insights in the area of compensation modelling.
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Regional Sales Manager EMEA (Sales Engagement for Enterprise accounts)
Karin started off her career working as an Economist in the Research Department in the Canadian Central Bank. There, the focus was primarily on building short-term macro-economic forecast models to support the setting of monetary policy in Canada. Following a move to Buenos Aires, Argentina, Karin worked at Capital IQ, setting up and managing a team of Equity Research Analysts covering South America and Western Europe. In the last four years, Karin has worked as a trusted finance advisor to executive sales leaders in Oracle Application in EMEA. The responsibilities span from advising on Go-To-Market models to leading and contributing on budgeting, forecasting, and compensation planning cycles.
Karin is originally from Sweden, and holds a BA and MA in Economics from University of Toronto in Canada.
Noel is widely regarded as the foremost authority of sales compensation plans in Ireland and the U.K.
He has over 30 years of sales experience in ICT / Software sales. For the last 10 years, he has been working in the Incentive Compensation Management Space.
A native of Belfast, Noel has an MBA from the Open University and is a member of the Chartered Institute of Marketing.