Designing Your Sales Compensation Plan

As discussed in “Sales Compensation Plan – Goals” (10/22/09), your sales compensation plan needs to be based on achieving specific goals – corporate, personal and sales team retention.  To design your plan, you will incorporate compensation elements such as quotas, awards, bonuses and commission payments that motivate your sales personnel to achieve the plan’s goals. …

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Sales Compensation Plan – Why Pay a Base Salary?

In today’s economy, I see many postings by companies looking to hire sales professionals on straight commission. Their logic is that if a sales representative is good, the rep will have no problem “eating what they kill.” Straight-commission sales reps are inexpensive to bring on board, do not add to your company’s overhead, and are …

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Sales Compensation Plan – Goals

Overview Your sales compensation plan needs to motivate your sales representatives to accomplish three goals: Achieve your corporate revenue goals Realize their personal and professional goals Want to work for you and your company In addition, the sales compensation plan should enable you to attract new sales reps as your organization grows. How do you …

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