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Author: Andris A. Zoltners Publisher: Amacom Books ISBN: 9780814473245 Category : Business & Economics Languages : en Pages : 524
Book Description
Designing an incentive plan to turn sales reps into sales superstars! If you're like most sales leaders, your incentive program is a constant challenge, as you try to jumpstart sales, energize a geographically dispersed and autonomous workforce, and motivate salespeople to achieve ambitious revenue goals. And sometimes it seems like you just don't know what works; your products and markets are changing, the incentive program that was so successful last year no longer produces the desired results, or perhaps the generous incentive program you created has yielded a corps of highly paid salespeople who spend most of their time on existing clients and minimal time generating new business -- and threaten to walk away with your customer base if you scale back paychecks! Incentive programs are seductively powerful but complicated instruments. Without careful planning and implementation, they can be too stingy to motivate, too complex to understand, too quick to reward mediocre results, and too difficult to implement. But a well-designed and implemented incentive program is an essential tool for building a motivated, highly effective sales force that delivers the results you need. The Complete Guide to Sales Force Incentive Compensation is a practical, accessible, detailed roadmap to building a compensation system that gets it right by creating motivating incentives that produce positive outcomes. Packed with hundreds of real-life examples of what works and what doesn't, this important guide helps you: Understand the value of building an incentive plan that is aligned with your company's goals and culture. Avoid the common trap of overusing incentives to solve too many sales management problems. Measure the effectiveness of your current incentive program, employing easy-to-use tools and metrics for pinpointing its weak spots. Design a compensation plan that attracts and retains successful salespeople, including guidelines for determining the correct pay level, the best salary incentive mix, the proper performance measures, and the right performance payout relationship. Select an incentive compensation plan that works for your organization -- then test the plan before it is launched. Set territory-level goals that are fair and realistic, and avoid overpaying the sales force because goals are too easy, or demoralizing salespeople by having goals that are too difficult or not fairly assigned. Create and manage sales contests, SPIFFs (Special Performance Incentive for Field Force), and recognition programs that consistently deliver the intended results. Manage a successful transition to a new compensation plan and build efficient administration systems to support your plan. Every year, corporations spend $200 billion compensating their sales forces, with extremely mixed results. Make sure every dollar you spend is helping to achieve your goal of creating an empowered, effective sales force that drives your company's success. Packed with ready-to-use formulas and assessment tools and a wealth of insights from frontline sales managers and executives, The Complete Guide to Sales Force Incentive Compensation is your hands-on, easy-to-read playbook for crucially important decisions.
Author: Andris Zoltners Publisher: AMACOM ISBN: 0814429726 Category : Business & Economics Languages : en Pages : 511
Book Description
A well-designed and implemented incentive program is an essential tool for building a motivated, highly effective sales force that delivers the results you need. Incentive programs are seductively powerful but complicated instruments. Without careful planning and implementation, they can be too stingy to motivate, too complex to understand, too quick to reward mediocre results, and too difficult to implement. The Complete Guide to Sales Force Incentive Compensation is a practical, accessible, detailed roadmap to building a compensation system that gets it right by creating motivating incentives that produce positive outcomes. Packed with hundreds of real-life examples of what works and what doesn't, this important guide helps you: Understand the value of building an incentive plan that is aligned with your company's goals and culture. Avoid the common trap of overusing incentives to solve too many sales management problems. Measure the effectiveness of your current incentive program, employing easy-to-use tools and metrics for pinpointing its weak spots. Design a compensation plan that attracts and retains successful salespeople, including guidelines for determining the correct pay level, the best salary incentive mix, the proper performance measures, and the right performance payout relationship. Select an incentive compensation plan that works for your organization -- then test the plan before it is launched. Set territory-level goals that are fair and realistic, and avoid overpaying the sales force or demoralizing salespeople by having difficult goals or not fairly assigned. Create and manage sales contests, SPIFFs (Special Performance Incentive for Field Force), and recognition programs that consistently deliver the intended results. Manage a successful transition to a new compensation plan and build efficient administration systems to support your plan. Filled with ready-to-use formulas and assessment tools and a wealth of insights from frontline sales managers and executives, The Complete Guide to Sales Force Incentive Compensation is your hands-on, easy-to-read playbook for crucially important decisions.
Author: Doug J. Chung Publisher: ISBN: 9781680836844 Category : Business & Economics Languages : en Pages : 64
Book Description
A Practical Approach to Sales Compensation takes readers through the evolution of academic research on sales compensation. By examining the relevance of existing research, it provides practical guidance on the design of an effective compensation system. Furthermore, the monograph discusses how recent technological advances in artificial intelligence (AI) and machine learning (ML) shape sales strategy transformation and, thus, sales compensation systems of the future. After an introduction, Section 2 illustrates a practical outline for designing a sales compensation system and the associated dilemma that organizations often face. Section 3 examines the theoretical foundations of effective sales compensation structures and their validity--in particular, application of the principal-agent theory, which derives optimal compensation systems under the presence of agents' moral hazard. Section 4 addresses recent developments in field research: randomized field experiments jointly conducted by academics and organizations as well as structural econometric methods using micro-level performance and compensation data. Section 5 illustrates how advances in technology affect organizations' sales strategies and, thus, the challenges and opportunities in utilizing compensation structure to motivate salespeople.
Author: David Cichelli Publisher: ISBN: 9781735864648 Category : Languages : en Pages : 342
Book Description
Now in its 8th edition! The 2022 Sales Compensation Almanac provides the latest trends, resources and insights into sales compensation solutions. Sales compensation is an important management tool, yet needs constant attention. Excellent designs one year may give way to necessary updates and revisions the following year. Sales compensation stakeholders, including executive management, sales leaders, finance and HR professionals, are often looking for specific resources, survey findings and publications to address sales compensation design and administration challenges. The Sales Compensation Almanac provides the latest research and resources in this space.Featured Sections: Sales Compensation Trends Survey, Sales Compensation Hot Topics Survey, Sales Compensation Multiyear Trends, Reference Guide to Sales Compensation Surveys, Sales Compensation Administration Vendors Guide, Sales Compensation Education Resources, Case Studies, Whitepapers, Articles Listing.
Author: Mike Moorman Publisher: Routledge ISBN: 1000573397 Category : Business & Economics Languages : en Pages : 174
Book Description
Key Account Management Excellence in Pharma & Medtech is designed to help life sciences practitioners develop and execute innovative and effective key account management (KAM) strategies and capabilities. Pharmaceutical and medtech companies are increasingly pursuing KAM in response to the rapid rise of large, sophisticated and complex healthcare provider and payer systems and groups. Those that invest the time to get KAM right will protect their business and grow with these rising customers. This book is groundbreaking in both its scope and its tailoring of leading KAM practices specifically for life sciences. The central theme is that "key account management is an organization-wide business strategy, not just a role or a sales-specific initiative." KAM is a strategy focused on providing unique offerings and value through an orchestrated, cross-functional, go-to-market model designed specifically to address the needs and engagement preferences of a unique segment of customers. The insights and practices shared in this book are designed to be a valuable reference at every stage of the KAM journey. The book has been designed to facilitate a common language and deep understanding of KAM issues and leading practices organization-wide—particularly for life sciences leaders, account managers and cross-functional team members responsible for building, transforming and supporting their organization’s KAM strategies and capabilities.
Author: United States. Congress. House. Committee on Education and the Workforce. Subcommittee on Workforce Protections Publisher: ISBN: Category : Business & Economics Languages : en Pages : 72
Author: Daniel H. Pink Publisher: Penguin ISBN: 1101524383 Category : Business & Economics Languages : en Pages : 275
Book Description
The New York Times bestseller that gives readers a paradigm-shattering new way to think about motivation from the author of When: The Scientific Secrets of Perfect Timing Most people believe that the best way to motivate is with rewards like money—the carrot-and-stick approach. That's a mistake, says Daniel H. Pink (author of To Sell Is Human: The Surprising Truth About Motivating Others). In this provocative and persuasive new book, he asserts that the secret to high performance and satisfaction-at work, at school, and at home—is the deeply human need to direct our own lives, to learn and create new things, and to do better by ourselves and our world. Drawing on four decades of scientific research on human motivation, Pink exposes the mismatch between what science knows and what business does—and how that affects every aspect of life. He examines the three elements of true motivation—autonomy, mastery, and purpose-and offers smart and surprising techniques for putting these into action in a unique book that will change how we think and transform how we live.
Author: Reza Sisakhti Publisher: Association for Talent Development ISBN: 1607283220 Category : Business & Economics Languages : en Pages : 249
Book Description
Success in Selling: Developing a World-Class Sales Ecosystem presents timely research on key trends reshaping today’s sales profession and introduces the new ATD World-Class Sales Competency Model. An indispensable reference for assembling a world-class sales force, Success in Selling offers a significant revision of the 2008 ATD World-Class Competency Model. It is a comprehensive sales tool essential for all sales professionals—from those on the front line of selling, to those managing and developing sales talent, to those creating other sales enablement solutions. It provides guidance for customizing the model’s key competencies for both organizations and individual sales professionals and features case studies, job aids, templates, and other tools critical for personal and organizational success. The highly anticipated new edition: offers key analysis of trends shaping today’s sales ecosystem presents detailed descriptions of sales competencies that drive success describes how organizations and individuals can customize the new model to their own needs.
Author: Ph. D. John W. Keon
Author: Ph. D. John W. Keon
Author: Andris A. Zoltners
Author: Andris Zoltners
Author: Doug J. Chung
Author: David Cichelli
Author: Mike Moorman
Author: United States. Congress. House. Committee on Education and the Workforce. Subcommittee on Workforce Protections
Author: Daniel H. Pink
Author: David Kelly
Author: Reza Sisakhti