Sales Incentive Compensation:
Driving Profitable Revenue Growth
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. They are the critical link between the organization and its customers.
High-performing companies know the value of a sales function that is organized, staffed, trained and compensated in a manner that is consistent with business strategy and culture. In other words, there is strong alignment between business needs and sales compensation.
Aligning Compensation Plans with Your Sales Strategy:
Wilson Group has significant expertise in aligning the total compensation of the sales organization with the company’s sales strategy. Our customized assessment tools and approach to sales compensation design can deliver programs that will focus your sales staff on what is important and provide meaningful rewards for achievement.
What the Wilson Group Offers:
We collaborative with our clients, blending our expertise with the people who know the company to develop customized sales compensation plans. We have worked with companies in multiple industries to:
- Analyze competitive market compensation
- Collect and provide insights about sales force feedback
- Define and articulate the core sales strategy
- Describe sales roles and key accountabilities
- Develop “costing” models and provide insights to understand the impact of the new plan
- Facilitate the resolution of key issues that impact compensation plan design and success—such as, quota setting, revenue crediting and territory management
- Develop a framework for sales recognition, SPIFFS and Presidents Club
- Create presentations, calculators and compensation plan documents
- Prepare sales plan documents, illustrations and tools
- Assist in the selection of technology to administer the plans
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.
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 benchmarked total compensation levels for their sales roles, and examined both the on-target-earnings and the mix in total compensation. We also conducted a survey 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.