The Spiff Blog

OCTOBER 19, 2023

Believe it or not, the new year is right around the corner– and that means it’s time to plan your sales compensation strategy for 2024. In today’s post, we’re offering our top seven tips for a complete compensation transformation in 2024. Compensation Transformation Tip #1: Align your sales comp plans with your business goals.

Compensation 83

Compensation Incentives Incentive Commission 83

Sales and Marketing Management

SEPTEMBER 17, 2017

Author: Tim Houlihan Sales leaders are always trying to figure out how to get the most out of their reps at the lowest cost, and incentives are excellent at revealing that sweet spot. Finding the sweet spot for an incentive is like how Mama Bear’s porridge was juuust right. The best duration of an incentive is no longer than 90 days.

Incentives 184

Incentives Incentive Salary Pharmaceuticals 184

Sales and Marketing Management

SEPTEMBER 17, 2017

Author: Tim Houlihan Sales leaders are always trying to figure out how to get the most out of their reps at the lowest cost, and incentives are excellent at revealing that sweet spot. Finding the sweet spot for an incentive is like how Mama Bear’s porridge was juuust right. The best duration of an incentive is no longer than 90 days.

Incentives 166

Incentives Incentive Salary Pharmaceuticals 166

Xactly

OCTOBER 18, 2018

Few leading indicators are more predictive of a company’s future sales performance than its incentive compensation plans. As former Reliance Electric CEO Chuck Ames once said according to General Electric CEO Jack Welch, “Show me a company’s various compensation plans, and I’ll show you how its employees behave.”.

Incentives 78

Incentives Incentive Compensation Webinar Metrics 78

Xactly

OCTOBER 17, 2018

You may feel we’re being a bit too generous here with the word “party,” but considering how much we love flawless incentive compensation, we think a celebratory vibe is just what your planning committee really needs. Additionally, sales compensation can materially impact the bottom line of a company.

Compensation 88

Compensation Incentives Incentive Webinar Metrics 88

SBI Growth

OCTOBER 5, 2012

This post is for Small Company CSOs and VPs of Sales. Despite this luxury, the small company sales compensation plan is usually left on the backburner. To drive the right behavior and hit your targets, your sales compensation must evolve at the same pace as your company. This is a crucial mistake.

Compensation 257

Compensation Company Hiring Salary 257

The Spiff Blog

SEPTEMBER 1, 2022

If you’ve worked in sales, revenue operations, or finance for any amount of time, I don’t have to tell you how important sales compensation is. You already know the right sales compensation plan can motivate your team, improve their performance, and boost overall job satisfaction. So, what makes a good sales compensation plan in 2022?

Compensation 81

Compensation Salary Incentives Incentive 81

Sales Hacker

SEPTEMBER 27, 2022

He’s an expert in the sales world, particularly in revenue operations and incentive compensation. Building a compensation structure that works for both salespeople and the company. Holistic thinking about compensation, which includes development opportunities, benefits, advancement opportunities, and more.

Compensation 80

Compensation Incentives Incentive Quota 80

Sales and Marketing Management

MARCH 23, 2023

More than 85 companies reported revenue performance, turnover rates and change in compensation costs, including incentive and total compensation increases, for Alexander Group's 2023 Sales Compensation Trends Survey. Here's what we learned.

Compensation 156

Compensation Incentives Incentive Survey 156

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?

Compensation 76

Compensation Conference Trends Incentives 76

Sales and Marketing Management

OCTOBER 31, 2017

Author: George Kriza, CEO, MTCPerformance Your organization wants to drive sales with an incentive program. Here are 10 of the most important elements in designing and deploying your next incentive campaign. Are they already in other incentive programs, or is yours the only one they’ll see? How do they view your company?

Incentives 195

Incentives Incentive Strategy Penetration 195

No More Cold Calling

DECEMBER 29, 2017

That’s why it makes so much sense for businesses to emphasize wellness as part of their company culture. In fact, 72 percent of companies in the Society for Human Resource Management’s 2016 Employee Benefits survey said they currently offer some form of wellness program, . A company win-win. The digital connection.

Company 0

Company Survey Study Promotion 0

Sales and Marketing Management

JANUARY 19, 2018

Author: George Kriza, CEO, MTCPerformance For most large resellers or distributors, sales incentive programs for internal sales teams get little attention from top financial executives inside their organizations. Most multibillion-dollar reseller and distributor organizations attract millions of incentive dollars. Reseller Benefit: $0.

Incentives 192

Incentives Incentive Channels Vendor 192

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. Rely on extrinsic, non-monetary rewards.

Incentives 149

Incentives Incentive Compensation ROI 149

SBI Growth

OCTOBER 6, 2013

This post is for Sales and HR Leaders planning 2014 Sales Compensation. It provides a number of common Sales Compensation complaints. I also discuss some underlying causes of the complaints that may not be compensation-related. Something you’ll need to go with this post is the Sales Compensation Complaint Checker.

Compensation 293

Compensation Territories Incentives Incentive 293

SBI Growth

SEPTEMBER 9, 2013

Each year, HR professionals pay for benchmark compensation data. It also includes a Competitive Compensation Analyzer to identify your unique situation. Discover tactical solutions to get the most out your incentive comp dollars. Discover tactical solutions to get the most out your incentive comp dollars.

Compensation 288

Compensation Competition Salary Social Media 288

Crunchbase

JUNE 17, 2022

Your sales team drives your company’s revenue with its lead generation efforts. If your compensation plan doesn’t motivate team members to hit their numbers and stay with your organization, you won’t see business success. A sales compensation plan is more than just commissions—it’s the total package. Commissions.

Compensation 98

Compensation Competition Salary Commission 98

Xactly

JANUARY 2, 2019

The sales planning process can become quite complex, especially when it comes to designing sales compensation plans. From building a team to analyze metrics and company goals, the job carries a large amount of responsibility. Fortunately, sales compensation planning doesn’t have to be a tiresome, drawn-out process.

Compensation 69

Compensation Incentives Incentive Commission 69

Xactly

MAY 16, 2018

The sales compensation planning process can be complex, and unfortunately, sometimes a headache. Luckily, with the right tools, sales operations can reduce the stress and time it takes to design, test, and implement a new compensation plan, and they can work to maintain and tweak the plan throughout the year.

Incentives 66

Incentives Incentive Compensation How To 66

Xactly

JANUARY 7, 2019

The start of a new year comes with a new sales plan—and that means you must reassess your sales capacity needs , align and balance sales territories , and create a sales incentive plan that drives sales performance. Enter sales compensation planning. The Importance of Sales Compensation Planning.

Compensation 90

Compensation Incentives Incentive Commission 90

Anaplan

JULY 12, 2018

For companies that employ salespeople, figuring out how to compensate them is an ongoing challenge. There are a host of variables that need to be taken into account—products, customers, geography, competitors, and performance history, among others—all of which can change rapidly, and all of which can be complicated.

Incentives 45

Incentives Incentive Compensation Account 45

SBI Growth

OCTOBER 20, 2012

HR leaders, get ready for the 2013 Sales Kickoff by fixing the flaws in your compensation plan today. Read this post to reframe what may be disguised as a compensation problem. And get your hands on a Competency Grader for compensation assesement providers as part of SBI's "Make The Number 2013.". Hold on for a moment.

Compensation 267

Compensation Incentives Incentive Lead Rank 267

The Spiff Blog

DECEMBER 8, 2022

This individual more or less had complete control over their success, and therefore, they also had complete control over their sales compensation. If we don’t understand the situation we are asking them to be in, how can we appropriately set up a compensation plan to set sales managers up to reach their goals? The list goes on and on.

Compensation 71

Compensation Motivation Sales Management Strategy 71

Xactly

DECEMBER 10, 2018

Compensation drives sales behavior, which means your sales incentive plan is a critical factor in sales performance and objective achievement. The incentive compensation planning team faces the challenge of balancing executive priorities and designing incentives that motivate reps. Set the Foundation.

Incentives 79

Incentives Incentive Competition Compensation 79

Canidium

OCTOBER 11, 2023

Suppose you have uncovered the need for an incentive management solution in your company. In that case, you're likely trying to build buy-in across multiple departments. This can be challenging in large organizations for these reasons:

Incentives 52

Incentives Incentive Benefit Sales 52

Xactly

APRIL 9, 2018

Building a successful sales compensation plan carries an incredible amount of responsibility for compensation planning teams. Those tasked with creating a plan must develop a process and incentive plan that will motivate and encourage the right sales behaviors to achieve goals, all while driving growth. Company: Wolters Kluwer.

Compensation 70

Compensation Incentives Incentive Commission 70

Xactly

AUGUST 8, 2018

Sales and Finance leaders typically deal with limited insights, convoluted systems, and employee demands wherever compensation is concerned. welcomed Erik Charles, VP of Strategic Marketing at Xactly, and Nandini Ramaswamy, VP of Global Sales Compensation Design and Operations at Salesforce, to the panel. Incentive Compensation.

Incentives 55

Incentives Incentive Compensation Webinar Metrics 55

Sales and Marketing Management

OCTOBER 15, 2020

While not all sales teams may be struggling with demand (in fact some technology companies are experiencing record years), disen­gage­ment seems to be prevalent across all organizations and industries regardless of financial success. The line between rewards and compensation can become blurred. These can be rewarded at any time?—?and

Incentives 340

Incentives Incentive Survey Sales Qualified Lead 340

Miller Heiman Group

MAY 12, 2020

Compensation is also a concern for close to 100% of sales organizations as they figure out how to handle grounded sales teams, who are relegated to holding video conferences with prospective customers that have their own worries, including shrinking budgets and diminished financial outlooks. Set Up an Incentive Compensation Relief Committee.

Compensation 75

Compensation Quota Incentives Incentive 75

Pointclear

SEPTEMBER 10, 2013

Some have heard me say in interviews and on SLMA Radio that, pound for pound, marketers produce more revenue than anyone in their company. Recently (Aug 29th) on SLMA radio I interviewed Eric Lundbohm about the different ways to compensate marketers (other than salary) for their efforts in creating wealth for their company.

Compensation 208

Compensation Revenue Marketing Sales Qualified Lead 208

Xactly

JUNE 7, 2018

Incentive Compensation Management (ICM) solutions help companies manage their sales compensation plans and calculate commission payments. Today’s ICM solutions are aimed at optimizing more than just sales compensation, focusing on end-to-end sales performance management (SPM). What Companies Want to Solve with SPM.

Compensation 60

Compensation Incentives Incentive Data 60

Xactly

NOVEMBER 15, 2018

When it comes to sales compensation planning, you can never start prepping too early, right? Sales managers and their reporting reps will have responsibilities in their roles, which means your compensation plans should be tailored to different roles. Constructing Commissions in a Sales Manager Compensation Plan. Base Salary.

Compensation 87

Compensation Examples Sales Management Incentives 87

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.

Compensation 86

Compensation Retention Hiring Commission 86

SBI Growth

OCTOBER 29, 2012

This post will help you test a redesigned sales compensation plan to ensure cultural fit. Let’s suppose HR is fully engaged for redesign of a 2013 Sales Compensation plan. HR even brought in an expert compensation firm. But wait – this new incentive compensation plan could flop. What can be done?

Compensation 253

Compensation Hiring Incentives Incentive 253

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. .

Incentives 106

Incentives Incentive Compensation Salary 106

Xactly

JUNE 27, 2018

Sales compensation plan can be a complex process. Those who work to create a plan for their company must develop a compensation process and incentive plan that will motivate the right sales behaviors to achieve goals, all while driving growth. Company: Allergan. Time in sales compensation: 4 years.

Compensation 52

Compensation Incentives Incentive Pharmaceuticals 52

Xactly

OCTOBER 15, 2018

Sales incentives are a great way to motivate your team and keep morale high. Your first line of motivation is your sales commission structure , but there are several different types of sales incentives you can use to further encourage your team. Getting SPIFs Right as Sales Incentives. Making SPIFs too complicated.

Incentives 84

Incentives Incentive Motivation Compensation 84