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Incentive plans that drive sales success
Incentivising your salespeople to improve business outcomes
Incentivising a sales team can be one of the most challenging aspects of reward design. However, for many organisations, sales force effectiveness is the lifeblood of the organisation, so building sales incentive plans, sales bonus or sales commission schemes which enable sustained achievement of sales targets is key.
Your incentive plan must meet your organisational objectives, encourage positive behaviours, and be designed with a sound understanding of your market. It is about much more than increasing sales.
Any sales compensation plan must weigh up the relationship between individual employees, sales teams and the wider organisation to ensure it achieves the right balance between the needs of the business and expectations of employees. A successful sales incentive scheme will help you reward and retain your top performers as well as motivating your salespeople across all levels.
Setting your sales targets
In order to create effective sales incentive programmes you must first set clear, sustainable sales targets. A well-designed scheme will align the efforts of your sales managers and sales reps with your business objectives to focus on achieving shared goals.
We can help you understand and clearly define what you are trying to achieve with your sales incentive scheme and what success looks like for your organisation and sales teams.
Scheme design and incentive structuring
Demands unique to your sector, sales cultures and sales cycles, must be considered when it comes to designing and implementing an incentive scheme to boost your sales performance. This is where the advice and insight of a reward specialist can prove extremely valuable as you design your scheme.
There are numerous considerations when structuring your sales incentive scheme, including understanding a range of key objectives and design features such as eligibility, performance metrics, target-setting, calibration of payment to results, payment thresholds, claw-backs and hold-backs, phasing and timing of payments, and leaver provisions.
Work with a reward specialist
Whether you are creating or reviewing a sales incentive scheme, our reward specialists possess the knowledge and experience to design sales compensation plans that really work for your organisation. From initial goal-setting to design and implementation, we will work with you to understand your desired outcomes and develop an incentive scheme that engages and motivates your salespeople.
Sales Incentive Plans
- Simple but effective plan design
- Scheme eligibility and structure advice
- Calibration of payment to results
- Engaged and motivated sales teams