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5 Tips for Designing Successful Sales Incentive Compensation Plans

Xactly

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.”.

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Is your complex incentives plan holding you back?

Sales and Marketing Management

The same can be said for sales compensation. Incentive compensation plans are often far too complex. With this in mind, an incentive plan should be as simple as possible. A sales rep will become frustrated and ignore the plan. He’ll focus on his work and hope the incentives pan out.

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Six People You Should Invite to Your Incentive Compensation Planning Party

Xactly

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. View Webinar. That, and a few other things: probably snacks, definitely the right guest list.

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[Webinar Recap] Enhance Your Workforce Culture and Sales Performance through Incentive Compensation

Xactly

Successfully motivating and optimizing sales performance can be a challenging task for any business. Sales and Finance leaders typically deal with limited insights, convoluted systems, and employee demands wherever compensation is concerned. In a recent webinar with CFO Alliance, we reviewed the findings of the study.

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Sales Compensation and Quota Options During the COVID-19 Pandemic

Miller Heiman Group

Two out of three sales reps are more concerned about their paycheck than catching the coronavirus, according to a recent survey that we conducted. Our second suggestion is to collect data, so you can be scientific in your approach to compensation decisions. Survey the sales landscape in your organization.

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[Webinar Recap] Three Best Practices for Sales Compensation

Xactly

Figuring out sales compensation is not for the faint of heart. Outdated processes and unreliable data can roadblock any company’s sales potential. WorldatWork recently partnered with Xactly to share three best practices for sales compensation. Watch Webinar. Fortunately, we’re all in this together.

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The 12 Step Compensation Plan Design Process

Xactly

As part of the effort to make plan design easier, here are a few thoughts on the process (and a few other sales plan ideas too): 1. You need to start pulling together internal data from your incentive compensation management system, data from your CRM, and finally, information from financial teams on profitability and product revenues.