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The Art and Science of High ROI Comp Plans
The Art and Science of High ROI Comp Plans
Sales compensation plans exist to help your business reach its goals. With all the changes happening in the current economic climate, it's hard to keep up and make sure your plans stay on track. But it's essential to do so: a high ROI compensation plan is a foolproof way to form a foundation for growth and expansion.
Sales organizations can’t weather unexpected market shifts by laying off workers en masse or cutting out R&D. Your plans must carefully consider the goals of your business and then align sales compensation with those goals.
What steps can you take to make your plans stronger? How can companies recession-proof sales compensation?
We're sitting down with CaptivateIQ's Vice President of Customer Experience for a masterclass on designing incentive plans for sales reps that drive real business results.
Discussion topics
The importance of aligning incentives with business goals — and how to measure against them
How to know when your sales comp plan isn't working
Sales metrics businesses should track but often don’t
key takeaways
It’s critical to have a pathway for growth clearly laid out for your reps. If they can see where they can be and how to get there- they will create a way to be successful.
Revisiting and recalibrating your incentive comp plans to fit the changing needs of your org is essential. Review your process in relation to quota attainment bi-yearly to make sure everyone in your org is working towards fulfilling their goals. If the majority of your reps aren’t hitting their goals, something in your process needs to change.
Staff retention is at an all time low. Use this as an opportunity to find and keep new talent. Make sure that your compensation plans are current and competitive with the changing market. Don’t fear change, embrace it as opportunity for growth.