Compensation & Reward
All sales representatives are driven by reward and recognition. Developing a sales system with attention to all the right details will not be effective if the compensation and reward structure is perceived by all stakeholders to be unfair or unrealistic. Our years of experience with aligning compensation and reward to the sales model, process, organizational structure and very importantly performance metrics and goals, give us the right perspective to develop appropriate compensation levels and reward programs.
Benefits & Deliverables of the Compensation & Reward Design Process are:
- Ensure that your company reinforces the desired performance and activities of your sales organization
- Provide a market-based compensation plan
- Ensure that your company's Compensation and Reward structure motivates your sales organization
Motivation
As illustrated in the graph to the left (© HBR) any improvements made to stimulate Motivation rank as one of the four decision blocks deemed most effective as improvements to a company's fundamental building blocks.
Our engagement process regarding an assessment and design of a compensation / reward program which best addresses the behavior and motivation you would like to see displayed by the sales organization.
Broadly we will cover the following steps to determine the current state of your organization:
- Review any existing compensation plans in place today;
- Research and identify external best practice reward systems;
- Develop a new Compensation & Reward program leveraging existing internal best practices combined with industry best practices.
