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 Justin Lane, Director of Product Marketing 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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Director of Product Marketing
Karin is a trusted finance advisor to executive sales leaders in Oracle Application in EMEA. Her responsibilities span from advising on Go-To-Market models to leading and contributing on budgeting, forecasting, and compensation planning cycles.
Justin Lane is a Director of Product Marketing at Xactly Corporation. With 17 years of experience in the world of sales incentive compensation management, Justin is a true believer in the power of incentives to change the world and is passionate about helping clients maximize return on their compensation investment spend.