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Live Digital Panel - August 11, 2020

World Class Compensation Planning

The 2021 planning season is quickly approaching. We pulled together some of the best revenue leaders to discuss all things World Class Compensation Planning.

At this event, we also launched the results from the Spiff X Modern Sales Pros Research Survey: The Evolving State of Sales Compensation. To get early access to the results you had to attend live.

We surveyed approximately 100 of the best organizations and got amazing insight into their compensation structures. 2020 has been a wild ride, we were in a thriving economy, got hit with a once-in-a-lifetime pandemic, and are currently riding out the economic turmoil that has caused.

Compensation isn't a one time decision. It's a living process and your organization should never take your eyes off the prize: hitting your revenue goals and retaining top talent.

Key Topics -

  • How has COVID-19 impacted your revenue organization's compensation structure?

  • What are the basics of a successful sales comp structure? How do you reward your teams?

  • What are your biggest learnings around sales compensation from the last six months?

  • If you had to set your future self up for success during an economic crisis, what would you tell them?

Key Takeaways -

  • Simplicity is key. Comp plans need to be understandable. Your reps shouldn’t need an applied math or statistics degree to figure out a comp plan.

  • Building flexibility into comp plans is wise. Flexibility is one of the best characteristics you can have. Reps succeed and reps fail and that’s the nature of the beast. But, you need to be able to adapt.

  • Compensation isn’t a project, it’s a program. It’s not one and done, it’s evergreen and everliving.

Dive Deeper -

Brooke Julicher was scheduled to be on this digital panel, but unfortunately, a scheduling conflict arised. We quoted her amazing sales experience a few times through the event and would like to give her a proper kudos and shoutout for participating in the prep session.