The Spiff Blog

OCTOBER 12, 2023

How well can you explain (or defend) the way your company compensates sales employees? In today’s world, where pay transparency and compensation fairness are increasingly in the spotlight, sales employees and high-quality job candidates want to know more than just “how” your sales reps are paid. Let’s get into it!

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Sales and Marketing Management

DECEMBER 17, 2018

Author: TIM HOULIHAN Do you avoid team incentives because you are worried about being fair? Teams perform better than individuals [ Kuhn, “Experiments on Motivation, Incentives and Rationality” 2007 ], and you and your bottom line can benefit from rewarding teams. Worry no more. Don’t ask team members to rate each other.

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Crunchbase

JUNE 17, 2022

This article is part of the Crunchbase Community Contributor Series. Please note that the author is not employed by Crunchbase and the opinions expressed in this article do not necessarily reflect official views or opinions of Crunchbase, Inc. A sales compensation plan is more than just commissions—it’s the total package.

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Sales Hacker

OCTOBER 7, 2022

Scott Barton, Varicent’s VP of Industry Solutions & 20-year sales compensation industry pro, attended WorldatWork’s 2022 Sales Compensation Conference. Despite these advances, few industry pros currently use predictive or prescriptive analytics for determining sales compensation plan effectiveness. Is change in the air?

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The Spiff Blog

JUNE 29, 2023

Managing sales compensation is both a highly complex and highly consequential responsibility. The design and execution of a sales compensation program directly influences the performance and morale of a sales organization, as well as the overall financial success of a company at large. What is a Sales Compensation Manager?

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Sales Hacker

APRIL 19, 2022

In this article, I’ll outline the principles of compensation design , how to build sales compensation plans , and include resources to set OTEs and quotas that keep your reps happy and hungry for more. Bravado’s 2022 State of Sales Compensation Guide showed that 54 percent of reps missed their quota.

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Sales Hacker Training

SEPTEMBER 10, 2018

Still, they don’t always nail down the details when it comes to the things that might entice a prospective salesperson — like a well-rounded sales compensation plan , for example. Creating a strong sales incentives program will help you attract and retain A-list sales talent, so it is worth putting in the legwork to create a strong plan. .

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Understanding the Sales Force

NOVEMBER 10, 2023

It should be obvious that this article is a call-to-action for CEOs and a cattle prod to awaken Sales Leaders. CEOs may be in a better position to start a sales transformation, but they tend to think their work is done after approving the payment. Companies don’t know what they don’t know.

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SBI Growth

JUNE 20, 2014

Don’t over-compensate the Sales team to sell the new product. Reward Product Management and Customer Support with sales incentives. This may sound counter-intuitive, but I’ll explain in the rest of the article. CEO CEO Resources New Product Compensation' ” Here’s an answer based on experience.

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SBI Growth

SEPTEMBER 11, 2017

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LeadFuze

MAY 17, 2021

Why are Sales Compensation Plans Important. Building sales compensation plans for them can be a difficult task. There are several factors to consider when putting a sales compensation plan together. 4 Types of Sales Compensation Plans. A company is nothing if it doesn’t have sales. Because guess what? Profit-Based Plan.

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OpenSymmetry

JUNE 30, 2015

One Wall Street Journal article reports that in 2014, the average turnover for part-time sales associates was 66%, while full-time was less at 27%, with the availability of benefits as the contributing factor to why full-time employees tend to stay. The second transformation relates to driving performance.

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The Spiff Blog

SEPTEMBER 7, 2023

These pillars include organizational alignment, robust reporting, ongoing professional development, incentive compensation, and sales enablement. Incentive alignment : Shared goals enable the design of incentive structures that motivate sales reps while aligning with the broader success of the organization.

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Troops

AUGUST 8, 2018

How much do top tech companies structure their sales compensation plans? We analyzed the compensation packages at tech companies known to be aggressively hiring salespeople. Using data from Glassdoor, we were able to take a deeper look at how salespeople get compensated. The answer, it turns out, can vary widely.

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Hubspot Sales

OCTOBER 25, 2023

After exploring some potential topics, I landed on a long-standing debate about sales compensation — whether commission is the most effective sales compensation structure. I prompted ChatGPT, “Have a debate with me about whether the commission-based compensation structure is an effective incentive compensation system for salespeople.

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Hubspot Sales

FEBRUARY 2, 2022

Any professional, across every field and experience level, needs to have a solid understanding of how they're compensated — after all, that's literally the reason you're working in the first place. Your base salary is one of the key elements you need to account for when getting that picture of your compensation package.

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SBI Growth

OCTOBER 4, 2019

As Summer wraps up and a successful third quarter draws towards a close, it’s time for sales leaders to start looking towards 2020 and beyond as part of the annual planning process. Amongst the plethora of reports and discussions to.

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Xactly

MAY 10, 2018

Historically, sales performance incentives have been focused on individual recognition. But only offering individual sales incentives is narrow-minded and can be supplemented with team-based rewards. The concern is that group incentives can undercut individual ones, but you can strike an effective balance. This approach works.

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The Spiff Blog

APRIL 27, 2023

Motivation and compensation are tough to nail under normal circumstances and are even trickier during tough times. In this article we plan to resurface a few well-known, but often overlooked, principles of compensation and motivation that can boost you and your team during these tough times. Let’s get into it!

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Sales Hacker

AUGUST 26, 2021

That’s how my friend Stacey describes the way sales compensation plans have changed over the last 15 years of her SaaS career. Why do sales compensation plans have to be so complex? Sales compensation was set up to ensure that reps are suitably rewarded for their performance. Ramp policy. What is their policy on draws?

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Understanding the Sales Force

DECEMBER 20, 2012

Understanding the Sales Force by Dave Kurlan As promised for today, I'm revealing the single article, from among my former 999 blog articles which my readers voted "best", to be my 1,000th post. Many people are not going to like this article. Whether they have the incentive to improve their sales competencies.

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The Spiff Blog

OCTOBER 6, 2022

This article will show you how the right commission plan execution can retain your employees, reduce customer churn and increase trust between internal teams. . But remember that while the execs are driven by revenue and low customer churn, your sales reps are driven by their incentive compensation plans.

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OpenSymmetry

JULY 20, 2016

In some cases, incentive compensation (IC) methods have evolved to align with new regulations regarding specific sales metrics. For example, Corporate Integrity Agreements (CIAs) were implemented by the DoJ as a way to curtail off-label drug promotion which forced companies to ensure their sales incentives encouraged proper compliance.

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Pharmaceuticals Compensation Incentives Incentive 40

OpenSymmetry

JULY 20, 2016

In some cases, incentive compensation (IC) methods have evolved to align with new regulations regarding specific sales metrics. For example, Corporate Integrity Agreements (CIAs) were implemented by the DoJ as a way to curtail off-label drug promotion which forced companies to ensure their sales incentives encouraged proper compliance.

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Sales and Marketing Management

JANUARY 27, 2019

Our first two articles in this series (1) established the compelling link between top-line revenue performance and frontline sales manager effectiveness , and (2) explored what “good” looks like in individual sales managers. Create incentives that drive the right behaviors. Provide meaningful training.

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No More Cold Calling

DECEMBER 29, 2017

A survey from Health IT Outcomes reported that 90 percent of employees surveyed said they wanted their company to provide a wearable device for tracking as an incentive. One way companies can compensate is to increase the motivation for participation. This article was first published on Entrepreneur.

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SBI Growth

MAY 17, 2021

There are many factors that drive high-performance in a sales organization: talent development, enablement, and incentives, to. Most agree it’s important, some understand why, but very few sales leaders use it as a competitive differentiator.

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Xactly

MARCH 22, 2018

Most of the time when I speak about the middle performers, it is because I am trying to convince a sales leader that there is value in focusing on the middle performers rather than explaining the sales incentive tools available to increase their performance. Why Focus on Motivating the Middle? Or, keep reading for more sales plan ideas.

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Sales and Marketing Management

JUNE 28, 2017

Continue with Compensation and Rewards. Compensation drives behavior. This type of compensation structure does little to encourage cooperation between different teams. . These types of incentives align all employees on the growth of the business. rethink compensation and incentive structures.

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The Spiff Blog

MARCH 21, 2023

Why share this story at the beginning of an article about using Salesforce to calculate sales commission? A Brief History of Salesforce We started this article talking about the invention of VisiCalc, the first spreadsheet. We believe Salesforce realizes that its software isn’t ideal for handling incentive compensation systems.

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OpenSymmetry

DECEMBER 4, 2015

On November 19 th , 30 organisations gathered in London at the e-reward conference to discuss the benefits of compensation management software. The need to automate territory and quota management will be driven by the dependency of the incentive plan on more complex quota setting and territory alignment challenges. What is SPM?

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SBI Growth

JUNE 14, 2018

What separates the great companies that we work with? Fundamentally it is associated with good leadership, clear direction and strategic functional alignment. I recently relearned a lesson that great, at least as far as a company’s growth trajectory is concerned,

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Crunchbase

JANUARY 13, 2022

This article is part of the Crunchbase Community Contributor Series. Please note that the author is not employed by Crunchbase and the opinions expressed in this article do not necessarily reflect official views or opinions of Crunchbase, Inc. Tie compensation to desired behavior. Then, break it down by department and sales rep.

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Sales Hacker

SEPTEMBER 6, 2022

In this article, I’ll walk you through my step-by-step process of setting goals for sales reps — with a special focus on retail employees and the power of sales incentives and gamification. Example: First shift vs. second shift: The group that makes $10K in sales first, gets [reward or incentive]. Stretch goals. on the floor. (If

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Sales and Marketing Management

JUNE 28, 2017

Continue with Compensation and Rewards. Compensation drives behavior. This type of compensation structure does little to encourage cooperation between different teams. . These types of incentives align all employees on the growth of the business. rethink compensation and incentive structures.

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The Spiff Blog

MAY 31, 2022

After all, does your organization really need to sink even more money into sales compensation ? You need a proper commission management software to effectively future-proof your compensation strategy, so your team can run like a well-oiled machine— rain or shine. The short answer is, yes. Spreadsheets are inefficient.

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The Spiff Blog

APRIL 11, 2023

Spiff’s sales commission software enables finance and sales operations teams to self-manage complex incentive compensation plans and provides transparency for sales teams. With a combination of an intuitive UI, real-time visibility, and seamless integrations into current systems, Spiff is the first choice among high-growth businesses.

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