Tag: compensation

These Compensation Program Features Will Motivate Your Reps

Did you know the aver­age sales man­ag­er hopes to grow rev­enue by 6% this year? And, about 57% of sales man­agers believe they can make their goal in 2019.

What Managers Need to Know About Commissions

Are you wor­ried that your top sales rep is seek­ing green­er pas­tures? Ear­li­er this year, a report from Tiny­Pulse revealed that over 40% of employ­ees would leave their cur­rent posi­tions for a pay boost of 10%.

Manage Smarter 78: The Hard Working Woman's Guide to Money

You've worked hard and earned that pro­mo­tion to man­age­ment or even the C‑Suite — and with it, increased your income. KT Thomas is the founder of New Day Solu­tions, a finan­cial advi­so­ry firm and author of The Hard Work­ing Woman’s Guide to Mon­ey. In this episode, we dis­cuss: why women are more in need of finan­cial advis­ing assis­tance and over­all finan­cial edu­ca­tion; the #1 and first mis­take female lead­ers make when they come into wealth and mon­ey; and how to eval­u­ate finan­cial pack­ages when con­sid­er­ing career pro­gres­sion and earn­ings.

Is Your Bonus System Really Motivating Employees?

Man­agers count on team mem­bers to be pro­duc­tive every day. And to ensure com­mit­ment to the work, orga­ni­za­tions cre­ate incen­tives based on com­pen­sa­tion and bonus­es. Deter­min­ing how big bonus­es should be can get com­pli­cat­ed and expen­sive for orga­ni­za­tions.

Over 90% of Employers Use Short-Term Incentive Plans

In today’s tight labor mar­ket, you could spend a for­tune try­ing to lure the kind of tal­ent you need to suc­ceed. If the thought of sky-high salaries is keep­ing you up at night and crimp­ing your prof­itabil­i­ty, con­sid­er an alter­nate strat­e­gy.

Are Your Employees Gaming Your Incentive System?

To make a splash in the mar­ket­place, busi­ness­es will often estab­lish a com­pen­sa­tion sys­tem that rewards sales­peo­ple to take huge risks in exchange for the chance to earn huge sums. Research pub­lished in Kel­logg Insight also asso­ciates these kinds of com­pen­sa­tion mod­els with the recent near col­lapse of our finan­cial sys­tems.

Managers: Does Your Sales Rep Compensation Package Align with Culture?

Atten­tion sales man­agers. Are your reps hap­pi­er about the prospect of extra cash or would they appre­ci­ate recog­ni­tion in the form of a trip to an exot­ic des­ti­na­tion? The answers to these ques­tions mat­ter, and to some extent, depend on cul­tur­al back­ground.

Are Your Sales Compensation Plans Dysfunctional?

Your prod­uct or ser­vice might be so tech­ni­cal that your sales reps need extra train­ing in order to suc­cess­ful­ly sell. They shouldn’t encounter the same sit­u­a­tion with respect to the com­pen­sa­tion plan you are offer­ing.