< back to event library

The Ultimate Incentive Plan Masterclass

The Ultimate Incentive Plan Masterclass

The market is becoming severely competitive, making it harder to retain your salespeople and keep them happy, motivated, and dedicated to impacting your company’s revenue goals.

Commission plans are one of the most important and effective ways to drive your business goals to reality. The changing times call for a prudent budget allocation. Hence, it’s important to approach your commission plans with the same prudence. 

The true challenge lies in designing a generous plan to reward hard workers without bitting too much of your revenue. A simple, effective, and customizable plan requires some serious thought and planning by leadership. This Masterclass is designed to make the most out of incentives to drive the performance of your customer-facing teams.

Discussion topics

  • The key characteristics of an effective incentive plan

  • Forget the one-size-fits-all. Design a plan specific to your team

  • The best use of metrics for compensation

Key Takeaways

  • Incentive plans must be transparent and simple. If it is too hard to understand what to do to get compensation, try again. Keep your plan simple.

  • There are four parts to creating a perfect incentive plan: Strategy. Tactics. Execution and Tracking & Feedback.

  • One size does not fit all. Incentives plans need to be moldable to different realities.

Resources

  • Check out the slide deck from the presentation here.