Overview
There are few management tools that work as well in recruiting, directing, motivating and retaining sales people as a strong commission plan. This is critical because sales people are often highly paid, remote from headquarters and entrusted with customer relationships (very valuable assets). A properly designed commission plan clearly and personally communicates the strategy of the organization to resources that have direct impact on financial performance. The design and deployment of a new commission plan can create a 5-10 percent uplift in revenue in a single year. However, mistakes in commission plan design are quite common and can have disastrous effects on performance. Help your company avoid sales force turnover, dissatisfied customers, runaway expense and in worst cases, litigation, by understanding the core elements and decisions in commission design, management and optimization. Hewitt’s Sales Force Effectiveness Practice leader will introduce a framework to help make large, complex, cross-functional decisions about commissions smaller and simpler. This OnDemand Webinar will also use real company examples to highlight best and worst practices.
Authors
Scott Sands, Hewitt Associates
Self Study Credit - OnDemand Webinar
| HRPD | 0.5 | | |
| CLE | 1.25 | NC | |
| CLE | 1.4 | AL, MS | |
| HR Certification Institute | 1.5 | | |
| CLE | 1.5 | AZ, CA, IL, MT, PA, TN, VT, WA, WI | |
| CLE | 1.8 | WV | |
Self Study Credit - CD & Reference Manual
| CLE | 1.5 | AZ, CA, GA, ME, MT, NV, UT, VT, WA | |
| CLE | 1.8 | WV | |
| CLE | 2 | CO | |
Self Study Credit - Podcast
| CLE | 1.5 | CA, ME, MT, NV | |
| CLE | 1.8 | WV | |
Agenda
Issues With Commissions in Today's Market
Methods and Metrics for Commission Program Assessment
- Root Business Issues
- Building a Scorecard From Guiding Principles
- Gaining Consensus on Redesign
10 Steps to Strategic Commission Plan Design
- Competitiveness - Level, Mix, Upside
- Execution - Eligibility, Performance Metrics, Goals, Formula Mechanics
- Administration - Crediting Rules, Payment Frequency, Policies
Broader Governance of Commission Plans
- Accuracy
- Accountability
- Alignment
Questions and Answers
