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Sales Incentive Design - Best Practice, Observations & Insights

Topic:
Sales Incentive Design - Best Practice, Observations & Insights
Date:
September 10, 2012 at 12:30 - 1:30 PM ET
Presenters:
Paul Oliva, Director, Compensation(Comp Edge LLC)
webcastImgVirtual
Description
While no other function can boast a more direct impact on the bottom line than sales, most companies devote little resource to sales incentive plan design, and fewer have in-house expertise in this area. Poorly designed sales incentive plans reward the wrong behaviors, misdirects a sales force, can lead to talent exodus. Well conceived and executed sales incentive plans drive the right sales behaviors, rewards the right outcomes, and can propel a sales force to higher levels of performance.

This presentation will cover the sales incentive design process from a best practice perspective. I’ll discuss essential factors to consider and design tenets, the steps in the design process needed to ensure good plan design, and some examples of what good plan design looks like are provided. The presentation will also cover plan design from an Industrial Psychology perspective…i.e., “What sales behaviors do we want to reward /drive through plan design”…What sales behaviors do we not want to reward?

This presentation will cover the following areas:
• Indicators that your sales incentive plans are not working well, or as intended
• Sales incentive design best practice
• The design process – best practice overview
• Choosing the right performance measures
• The importance of Financial Modeling
• When to use commissions, when not to
• How to ensure a successful plan launch
• Usefulness of conducting post-mortem reviews

This presentation will be followed by a question forum where attendees are encouraged to discuss their biggest challenges and priorities for their sales force. The speaker will invite participants to share their insights and suggest possible solutions to their challenges, as well as make some recommendations on how to tackle the issues posed.
Who Should Participate
This presentation would be most beneficial to compensation professionals who want to learn more about sales incentive design best practice as well as senior level human resource professionals who support sales organizations and want to know how to evaluate sales incentive plan effectiveness and how to look for tell tale signs that your sales incentive plans are not working well or as intended.
What You Will Learn
Attendees will learn: • Indicators that your sales incentive plans are not working well, or as intended • Sales incentive design best practice • The design process – best practice overview • Choosing the right performance measures • The importance of Financial Modeling • When to use commissions, when not to • How to ensure a successful plan launch • Usefulness of conducting post-mortem reviews
Recommended Resources
World at Work Certification Course C5
Communities
Compensation
Incentives Measurement, Reporting and Analysis
Incentives, Rewards and Recognition
Sales force compensation
Pay Strategies
Incentives Planning and Management
Variable Pay
Pay for Performance
Presented by
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speaker spacer
Paul Oliva
Comp Edge LLC

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Event Sponsors
Compensation Edge
Comp Edge LLC is a privately owned client focused total rewards consulting firm located in central New Jersey.
File List
Feedback
Name Comment Rating
5 / 5
Excellent Presentation
Image of Andrea Robinson Andrea Robinson
Wells Fargo & Company
5 / 5
Excellent Presentation
3 / 5
Good Presentation
Image of Dustin Grutzik Dustin Grutzik
Yutka Fence
2 / 5
Poor Presentation
Image of Jen Morris SPHR Jen Morris SPHR
BURNS AND ROE GROUP INC
4 / 5
Very Good Presentation
Image of Vanessa Correa Vanessa Correa
Bel Vino Winery
4 / 5
Very Good Presentation
Image of Jill Mann Jill Mann
Siemens Corporation
4 / 5
Very Good Presentation
Image of Angela Blum Angela Blum
Cisco Systems, Inc.
4 / 5
Very Good Presentation
Image of Lois Rex Lois Rex
Old Fort Banking Company
4 / 5
Very Good Presentation
3 / 5
Good Presentation
Image of Jill Meese Jill Meese
C.H. Briggs
4 / 5
Very Good Presentation
Image of Annette Cassada Annette Cassada
Guilford County
3 / 5
Good Presentation
Image of Barbara Barry Barbara Barry
Benefits Consultant
5 / 5
Excellent Presentation
Image of Tom Sherr Tom Sherr
H.C. Starck Inc.
5 / 5
Excellent Presentation
Image of Nicole Berberich Nicole Berberich
Cincinnati Animal Referral & Emergency (CARE) Center
4 / 5
Very Good Presentation
Image of Barbara Morrow Barbara Morrow
Strategic Workplace Solutions
5 / 5
Excellent Presentation
4 / 5
Very Good Presentation
Image of Nanette Soto Nanette Soto
Strategic Outsourcing, Inc.
4 / 5
Very Good Presentation
4 / 5
Very Good Presentation
Image of Timothy Stewart Timothy Stewart
XO Communications Inc.
excellent information thanks Paul 4 / 5
Very Good Presentation
Image of Kerri Conner Kerri Conner
RE/MAX International, Inc.
Good info but too much for the time allotted. 3 / 5
Good Presentation
Image of Nanci E Lamborn, SPHR Nanci E Lamborn, SPHR
eVestment Alliance
Presenter sounded like he was on a speakerphone sound was inconsistent as he moved around. He coughed a lot. Took too much time to get through material needs to practice his delivery and presentation skills. He had no idea he was out of time. 3 / 5
Good Presentation
Image of Baruch Marmor Baruch Marmor
B.M. SQA Consulting
The role of the managing in the whole operation of the VCWs shold be to be in place and rremind the presentors to f8inish on time - because there is a coming up presentation jjust at the end of this presentation. 3 / 5
Good Presentation

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WorldatWork Society of Certified Professionals. Recertification credit for this event applies to the Certified Compensation Professional (CCP®), Certified Benefits Professional® (CBP), Global Remuneration Professional (GRP®), Work-Life Certified Professional (WLCP®), Certified Executive Compensation Professional (CECP™) and Certified Sales Compensation Professional (CSCP™) designations granted by WorldatWork Society of Certified Professionals.

Recertification credit for this event can be taken by entering it into your online WorldatWork Society recertification application and entering the program date, title and length. Please note that the CECP and CSCP designations require a minimum number of credits from executive and sales compensation-related activities. For more information on recertification, visit the WorldatWork Society recertification webpage at www.worldatworksociety.org/recertification.


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