Utilizing Incentives to Build Market Leadership
Sales people serve a critical role in determining the success of the commercial enterprise. They represent the organization in the marketplace, establish the fit between customer needs and the organization’s products and services, and generate the revenues the organization needs to operate. The sales staff is the critical link between the organization and its customers.
In high-performing companies, executives spend considerable time and effort to ensure that the sales function is organized, staffed, trained and compensated in a manner that is consistent with the organization’s strategy. There needs to be a direct alignment between what the organization needs and how the sales function operates.
Aligning Compensation Plans with Your Sales Strategy:
Wilson Group has unique expertise in aligning the total compensation of the sales organization with the company’s key success factors. Our assessment tools and approach to sales compensation design can deliver unique programs that will focus your sales staff and provide meaningful rewards for achievement.
We have worked with many leading companies to:
- Define and articulate the core sales strategy that creates competitive advantage,
- Describe the roles and key accountabilities for each element of the sales organization,
- Develop customized sales compensation plans that drive desired actions and create a return on sales compensation costs.
The marketplace for effective sales talent is highly competitive. To be successful in attracting and retaining desired talent, your organization needs to examine both how and how much people are rewarded. This means that executives need to understand what is important to their sales people and define what is expected from them. We help our clients to understand both the sales strategy and the needs of sales staff, and build the alignment between the two.
What the Wilson Group Offers:
We work collaboratively with our clients, blending our expertise with the people who know the company. This is a highly effective way to build systems that work. We can assist you in:
- Translating sales strategy into a sales compensation strategy,
- Collecting and assessing sales force feedback on organizational effectiveness and current compensation programs,
- Facilitating the resolution of key design issues that impact compensation plan success—such as, quota setting, revenue crediting and territory management,
- Developing unique approaches to commission, bonus and recognition programs, and developing “costing” models to assess return on compensation dollars,
- Create communications, calculators and compensation plan statements that ensure the understanding of the models and tools being implemented,
- Recommend the right technology to assist you in administering the plans being implemented.
Our process focuses on key business drivers and builds commitment to change. We are both result and process focused, which enables us to be innovative and develop programs that can give your company a competitive advantage. This enables you to achieve desired top-line revenues and bottom-line profitability. That is what winning is all about.
We worked with a team of cross functional leaders in a leading technology firm to assess the current global sales incentive plans and develop important changes. The company needed more traction on the introduction of new products and to strengthen their relationships with existing clients. We did a benchmark study of total compensation levels for key sales jobs, and examined both the on-target-earnings and the mix in total compensation. We also conducted a survey of opinions of the sales force on key factors impacting their performance. Our work clarified the roles of the direct sales executives, account executives and channel managers, and modified their commission structure to include a few new, critical measures. The plan was also designed to support their increase use of sales recognition and President’s Club programs to provide a systematic solution. The company has strengthened its market leadership and reduced their undesired turnover in sales. The excitement of winning and growth has returned.