Is your team sweating a bit as they push to close the year out strong? Or, do they seem to not be overly worried? Either way, it's likely that your compensation plan plays a big part in how 'hot' or 'cool' they feel.
With only 4.5 months left in this calendar year now is a good time to wonder about whether your comp plan could be making your team comfortable thus creating some complacency
Might your salary to commission ratio be a bit out of whack? We all want our teams to be able to provide for their needs. However, paying generous base salaries doesn't always lead to loyalty; nor does it motivate every seller to produce.
Are all of your sellers expected to generate new business? Should you pay a higher commission for new accounts they land, and a lower one for repeat business? At what point does the new account get classified as existing? After one year?
You get it. Your compensation plan needs to be aligned to your desired end game. That's not always as easy as it sounds.
If you're wondering about how well your plan will carry you beyond 2017, we can help. We'll facilitate the discussion and provide objectivity while your team works together to gain clarity. Should we meet?
P.s. This Wednesday's Activate Series session begins the conversation around how sellers get themselves boxed in which can lead to getting boxed out of deals.