Description
Sales compensation is a never-ending issue with sales, marketing, finance and HR executives. It’s a topic of constant promise, yet continuing uncertainty. It all sounds simple enough, in theory: pay people a commission for what they sell, and the more sales your people will have incentive to close, the more money your company makes. Yet, in application, sales managers and company leaders often must serve multiple and sometimes contradictory objectives. And, guess what? All that uncertainty creates a sales compensation program that’s confusing, complicated and composed of abstruse, overwrought formulas. The outcome is predictable: frustrated and demotivated sales people, the opposite of what a sales compensation plan is supposed to do. Compensating The Sales Force will focus on how to select, construct and implement the right sales compensation formulas. While other books make readers wade through hundreds of pages of strategic posturing before getting to the meat of the book (the formulas), Compensating The Sales Force (while it doesn’t skimp on the strategy) is structured around giving readers better access to the tools they need. It’s much more than just the formulas, however – the book also constitutes a complete “how-to” manual (written in plain English!) that discusses the formulas and compensation theories and practices in the context of their real-world application. In addition, the author will include unique perspectives and frank commentary on the do’s and don’ts of various compensation practices. The book will ultimately be seen as a comprehensive user guide for designing sales compensation plans, featuring: Steps to follow and actions to take concerning the various compensation approaches; An overview of all the formulas, accompanied by accessible explanation of the math involved; For each compensation formula, an analysis of often-encountered problems and suggested solutions; An examination of the strategic issues affecting the development of effective sales compensation programs; A clear and memorable presentation the basic concepts of compensation; A simple ten-step process enabling the reader to redesign their existing compensation plan; Best practices for how to roll-out the new plan and sell it to your sales force; An additional feature of the book will be the appendices for select professionals, and also a second appendix on industries.
