Compensating The Sales Force A Practical Guide To Designing Winning Sales Compensation Plans
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Compensating The Sales Force Third Edition A Practical Guide To Designing Winning Sales Reward Programs
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Author : David J. Cichelli
language : en
Publisher: McGraw Hill Professional
Release Date : 2017-11-24
Compensating The Sales Force Third Edition A Practical Guide To Designing Winning Sales Reward Programs written by David J. Cichelli and has been published by McGraw Hill Professional this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-11-24 with Business & Economics categories.
Leverage the full power of your sales force with a cutting-edge compensation program Salespeople are motivated by many things—and how they’re paid tops the list. Sales compensation is one of the best tools for motivating any sales force and thus maximizing business revenue. Do you have strategically aligned sales compensation plans or are your pay plans holding back your sales force? Compensating the Sales Force has helped thousands of business leaders worldwide create sales compensation programs that drive sales performance, increase revenue, and trigger business growth. Now, this new edition brings you fully up to date with new approaches for a business landscape where product/solution objectives and customer needs are in constant in flux. Sales guru David Cichelli provides everything you need to build an incentive plan that delivers real financial results. He takes you step-by-step through the process of setting target pay, selecting the right performance measures, and establishing quotas. You’ll learn everything there is to know about: •Why job content drives sales compensation design •Methods for calculating formulas for payout purposes •The roles of quota allocation, sales crediting, and account assignment •Compensating a complex sales organization and global sales teams •Administering, monitoring, and measuring the effectiveness of the program An indispensable resource for anyone involved in sales compensation—from CEOs and sales managers to HR personnel to IT professionals—Compensating the Sales Force provides all the tools you need to design and implement a sales compensation plan that increases profits―and drives the sales team to exceed sales targets.
Compensating The Sales Force A Practical Guide To Designing Winning Sales Reward Programs Second Edition
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Author : David J. Cichelli
language : en
Publisher: McGraw Hill Professional
Release Date : 2010-07-16
Compensating The Sales Force A Practical Guide To Designing Winning Sales Reward Programs Second Edition written by David J. Cichelli and has been published by McGraw Hill Professional this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-07-16 with Business & Economics categories.
The classic guide to raising your bottom line with the perfect compensation strategy—fully revised and updated! Sales compensation WORKS! Nothing motivates a sales force better than a powerful compensation program. And when your salespeople are motivated, revenue soars. But how do you design a program ideally suited for your business strategy and organizational needs? It’s a delicate balance that makes all the difference between profit and loss. More and more sales leaders have turned to Compensating the Sales Force to help them discover problems in their present system and create a compensation program that works best for their needs. Now, in the second edition of this authoritative, jargon-free handbook, sales compensation guru David J. Cichelli brings you completely up to date on setting target pay, selecting the right performance measures, and establishing quotas. He supplies clear guidelines for building the right compensation plan for any type of firm, of any size, in any industry, and he offers step-by-step procedures for implementing each approach. In Compensating the Sales Force, second edition, Cichelli has substantially expanded the book’s popular formula section, and he provides brandnew examples of: Income producer plans Sales rep commission plans Bonus plans Incentive plans Base Salary management plans The book also includes all-new chapters for global, complex sales organizations and hard-to-compensate sales jobs. Using the lessons in Compensating the Sales Force, you’ll construct and calculate accurate formulas for payout purposes and establish highly efficient support programs, such as sales crediting and account assignment. Complete with dozens of real-world examples that illustrate important points and demonstrate specific techniques and procedures, Compensating the Sales Force provides all the tools you need to design and implement a sales compensation plan that maximizes profits—and keeps them climbing. With brand-new chapters on GLOBAL SALES TEAMS amd COMPLEX SALES ORGANIZATIONS! Praise for the first edition of Compensating the Sales Force: “If your company is refocusing its efforts on sales revenue enhancement, you must read this book. If you want motivated salespeople and superior sales results, act on its content.” Noel Capon, R. C. Kopf Professor of International Marketing, Chair of Marketing Division, Graduate School of Business, Columbia University “This book provides great guidance for any business leader who wants to capitalize on sales compensation as a tool for driving business results.” Rick Justice, Executive Vice President, Worldwide Operations and Business Development, Cisco Systems “Dave Cichelli is the premiere sales compensation educator today. You will immediately find this work informative, helpful, [and] thought-provoking.” Mark Englizian, former Director of Global Compensation, Microsoft Corporation
Compensating The Sales Force A Practical Guide To Designing Winning Sales Compensation Plans
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Author : David J. Cichelli
language : en
Publisher: McGraw Hill Professional
Release Date : 2003-09-22
Compensating The Sales Force A Practical Guide To Designing Winning Sales Compensation Plans written by David J. Cichelli and has been published by McGraw Hill Professional this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-09-22 with Business & Economics categories.
Compensating the Sales Force is a uniquely jargon-free, how-to guide to all major sales compensation concepts and formulas. Using real-world examples, guru David J. Cichelli: Helps readers select the right compensation strategy for their firm Provides step-by-step guidance to implementing various approaches Simplifies the mathematical formulas that are a thorn in most manager's side
Compensating The Sales Force
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Author : Cichelli
language : en
Publisher:
Release Date :
Compensating The Sales Force written by Cichelli and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on with categories.
The Complete Guide To Sales Force Incentive Compensation
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Author : Andris Zoltners
language : en
Publisher: AMACOM
Release Date : 2006-08-07
The Complete Guide To Sales Force Incentive Compensation written by Andris Zoltners and has been published by AMACOM this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-08-07 with Business & Economics categories.
A well-designed and implemented incentive program is an essential tool for building a motivated, highly effective sales force that delivers the results you need. Incentive programs are seductively powerful but complicated instruments. Without careful planning and implementation, they can be too stingy to motivate, too complex to understand, too quick to reward mediocre results, and too difficult to implement. The Complete Guide to Sales Force Incentive Compensation is a practical, accessible, detailed roadmap to building a compensation system that gets it right by creating motivating incentives that produce positive outcomes. Packed with hundreds of real-life examples of what works and what doesn't, this important guide helps you: Understand the value of building an incentive plan that is aligned with your company's goals and culture. Avoid the common trap of overusing incentives to solve too many sales management problems. Measure the effectiveness of your current incentive program, employing easy-to-use tools and metrics for pinpointing its weak spots. Design a compensation plan that attracts and retains successful salespeople, including guidelines for determining the correct pay level, the best salary incentive mix, the proper performance measures, and the right performance payout relationship. Select an incentive compensation plan that works for your organization -- then test the plan before it is launched. Set territory-level goals that are fair and realistic, and avoid overpaying the sales force or demoralizing salespeople by having difficult goals or not fairly assigned. Create and manage sales contests, SPIFFs (Special Performance Incentive for Field Force), and recognition programs that consistently deliver the intended results. Manage a successful transition to a new compensation plan and build efficient administration systems to support your plan. Filled with ready-to-use formulas and assessment tools and a wealth of insights from frontline sales managers and executives, The Complete Guide to Sales Force Incentive Compensation is your hands-on, easy-to-read playbook for crucially important decisions.
A Practical Approach To Sales Compensation
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Author : Doug J. Chung
language : en
Publisher:
Release Date : 2020-06-04
A Practical Approach To Sales Compensation written by Doug J. Chung and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-06-04 with Business & Economics categories.
A Practical Approach to Sales Compensation takes readers through the evolution of academic research on sales compensation. By examining the relevance of existing research, it provides practical guidance on the design of an effective compensation system. Furthermore, the monograph discusses how recent technological advances in artificial intelligence (AI) and machine learning (ML) shape sales strategy transformation and, thus, sales compensation systems of the future. After an introduction, Section 2 illustrates a practical outline for designing a sales compensation system and the associated dilemma that organizations often face. Section 3 examines the theoretical foundations of effective sales compensation structures and their validity--in particular, application of the principal-agent theory, which derives optimal compensation systems under the presence of agents' moral hazard. Section 4 addresses recent developments in field research: randomized field experiments jointly conducted by academics and organizations as well as structural econometric methods using micro-level performance and compensation data. Section 5 illustrates how advances in technology affect organizations' sales strategies and, thus, the challenges and opportunities in utilizing compensation structure to motivate salespeople.
Designing A Sales Compensation Plan How To Create An Effective Incentives Program For Your Sales Force
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Author : Vangelis Sakelliou
language : en
Publisher:
Release Date : 2019-01-16
Designing A Sales Compensation Plan How To Create An Effective Incentives Program For Your Sales Force written by Vangelis Sakelliou and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-01-16 with categories.
Sales compensation plans are at the heart of sales management. When designed well, an incentives scheme becomes a tool that can be used to manage, nurture, motivate, and guide a sales team. When the scheme works correctly, it helps the sales team to thrive. An effective plan has a dual role: To align the sales activity to the company's objectives and to motivate sales people to perform or even go beyond reaching their targets. Sales is built around objectives. Nothing is left to chance - there are always objectives and targets to be met. These targets give salespeople a clear path to follow. They ensure that each salesperson knows their objectives, and can form a strategy for success. The incentives scheme lets salespeople know what reward they can expect if they reach their targets. It's a motivator - that's its core function.A sales compensation program cannot be designed in a minute. It takes time, resources and skills to make it efficient. Sales management understands that the consequences of a scheme designed improperly are negative and may lead to unfortunate circumstances. This book is helping design teams and sales management to avoid making these mistakes and trying to help them design a system that is effective from the beginning. Many people overlook that the design process involves many different decisions, from considering the sales roles that shall be rewarded and the employees eligible to get incentives for their job and successes to the decision on the target cash compensation for a role, how much of it shall be in variable and how much in fixed salary. The process requires an examination on whether to use a commission or a bonus scheme and why. It also needs to determine what type of goals shall the scheme incentivise and what is the weight for each measure. The book also includes vital information on additional aspects of the program that some people forget to consider such as its administration, operation and communication to the sales force.
Compensating New Sales Roles
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Author : Jerome A. Colletti
language : en
Publisher: Amacom Books
Release Date : 2001
Compensating New Sales Roles written by Jerome A. Colletti and has been published by Amacom Books this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Business & Economics categories.
This guide explains why sales forces are evolving, which jobs need to be redefined, how to design and implement a state-of-the-art compensation plan that directs, motivates and rewards employees who perform effectively and how to measure the success of the plan.
Compensation And Benefit Design
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Author : Bashker D. Biswas
language : en
Publisher: FT Press
Release Date : 2012-12-07
Compensation And Benefit Design written by Bashker D. Biswas and has been published by FT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-07 with Business & Economics categories.
In Compensation and Benefit Design, Bashker D. Biswas shows exactly how to bring financial rigor to crucial "people" decisions associated with compensation and benefit program development. This comprehensive book begins by introducing a valuable Human Resource Life Cycle Model for considering compensation and benefit programs. Biswas thoroughly addresses the acquisition component of compensation, as well as issues related to general compensation, equity compensation, and pension accounting. He assesses the full financial impact of executive compensation programs and employee benefit plans, and discusses the unique issues associated with international HR systems and programs. This book contains a full chapter on HR key indicator reporting, and concludes with detailed coverage of trends in human resource accounting, and the deepening linkages between financial and HR planning. Replete with both full and "mini" case examples throughout, this book will be valuable to a wide spectrum of HR and financial professionals, with titles including compensation and benefits analysts, managers, directors, and consultants; HR specialists, accounting specialists, financial analysts, total rewards directors, controller, finance director, benefits actuaries, executive compensation consultants, corporate regulators, and labor attorneys. It also contains chapter-ending exercises and problems for use by students in HR and finance programs.
Employee Benefits Design And Compensation Collection
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Author : Bashker D. Biswas
language : en
Publisher: FT Press
Release Date : 2014-05-29
Employee Benefits Design And Compensation Collection written by Bashker D. Biswas and has been published by FT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-05-29 with Business & Economics categories.
A new collection of best practices for designing better compensation and benefit programs… 2 authoritative books, now in a convenient e-format, at a great price! 2 authoritative eBooks help you drive more value, efficiency, and competitive advantage from compensation and benefits programs Compensation and benefit programs are the largest expenses in most organizations; in service organizations, they often represent more than 50% of total costs. In this unique 2 eBook package, leading consultant Bashker D. Biswas helps you systematically optimize these programs to maximize value, efficiency, and competitive advantage. In Employee Benefits Design and Planning , Biswas brings together all the knowledge you need to make better benefits decisions. He introduces core principles for ensuring proper financing, funding, compliance, and recordkeeping; accurate actuarial calculations; and effective employee communication. Building on these principles, he guides you through benefits ranging from healthcare and disability insurance to retirement and cafeteria plans. You'll find up-to-date discussions of complex challenges, such as the Affordable Care Act and global benefits planning. Throughout, he offers essential insights for managing rising costs and risks, while ensuring that benefits programs improve productivity, reflect best practices, and align with your organization's strategy and goals. Next, in Compensation and Benefit Design , Biswas helps HR professionals bring true financial and accounting discipline to compensation and benefit design, tightly align talent management to strategy, and quantify program performance in the language of finance. Biswas thoroughly explains best-fit practices for superior program design, demystifies relevant financial and accounting concepts, and illuminates key connections between HR program development and GAAP/IFRS accounting requirements. His far-reaching coverage ranges from integrating compensation and benefits into Balanced Scorecards to managing expatriate compensation. Biswas reveals the true financial implications of every element of modern compensation and benefit programs, from base salaries to stock incentives, sales compensation to healthcare cost containment. Perhaps most important, he helps you systematically measure the value of your investments -- so you can both prove and improve your performance. Simply put, this collection brings together unparalleled tools for optimizing compensation and benefits programs -- whether you're in HR, finance, line-of-business management, or corporate management. From Dr. Bashker D. Biswas, world-renowned expert in employee compensation and benefits program design