Learn Design Strategies to Keep Your Sales Pay Plans Current and Effective
Sales compensation helps drive sales success. As go-to-market objectives change, sales compensation stakeholders need to assess and update the sales compensation program to align with current business objectives. Sales compensation plans need regular review. This course will teach you best practices in sales compensation design to ensure that your sales compensation plans align with your company’s goals, are motivational and reward sales excellence. Learn how to assess the effectiveness of existing sales compensation plans, select the right plans for your company’s current strategies and effectively communicate a new plan to the sales team.
In this course, you will:
- Learn how to balance incentive plans with your pay programs.
- Discover how growth rate drives sales job design and its impact on sales incentive plans.
- Review and apply incentive formulas.
- Identify best practices sales compensation design principles.
- Find out how to configure a sales compensation design team.
- Learn to manage a sales compensation support program.
- Learn about motivation principles to guide design practices.
This course is for the human resources, sales, finance, and marketing professionals responsible for design, implementation and administration of sales compensation program effectiveness, or for those seeking to be involved.
Course Outline:
- Sales Organization Success
Learn how sales growth drives sales strategy and how strategy and growth affect sales compensation planning. Describe the relationship between management philosophy and pay. Learn about motivating sales personnel. Understand the sales accountability model and identify the five “classic” variable compensation programs. - Sales Compensation Principles
Understand sales compensation principles, including pay levels, design mechanics, assessment analytics, support programs and assessment. Learn how your company applies the principles and how to identify “center practice” for each of the principles. - Sales Compensation Formulas – Techniques
Learn to describe the five types of incentive formulas and special design choices. Know the difference between commission and bonus formulas and how to calculate each. Learn about advanced sales compensation design. Define and use the concept of “linkage” and learn to select the right base salary management program. - Assessment, Design, Implementation and Management
Assess the current sales compensation plan and learn a proven design process. Discover effective implementation strategies for new plans and how to recommend ongoing program management methods.
Upon completing this sales compensation course, you will be empowered with new skills and knowledge to design sales compensation plans that align with organizational goals and motivate the sales team.
Ready to learn about sales compensation design?
This course is available in a variety of formats, including online and in-person.
Find a class format that works for you and register today.
