What We Cover - The Big Eleven
What makes up a good sales compensation plan? We leave nothing to chance and address each of the following components to ensure your plan fits your needs precisely:
- Market Benchmarking: We analyze market data for comparable roles to ensure you are paying the right amount to attract the right sales talent.
- Break-Even Analysis: We run the numbers to ensure your sales compensation plan is cost-effective and affordable. It's a win-win!
- Leverage: We determine the ratio of salary to variable pay that best matches your selling environment.
- Measure Definition: We identify the metrics – units or revenue or margin, etc. – that will best align salespeople with your business objectives. This may include individual and team measures.
- Payout Formulae: We develop the arithmetic to convert performance into compensation payments. This could be straight or tiered commissions, performance versus quota or other techniques and combinations.
- Overachievement Payouts: We define an attractive but cost-effective bonus structure to reward your top achievers.
- Underachievement Penalties: We establish clear performance standards and define whether and how poor performance will impact earning potential.
- Qualitative Bonus Structures: We identify opportunities for bonuses related to non-revenue accomplishments.
- Payment Event: We determine the event that should trigger a compensation payment, such as contract signing or invoicing.
- Payment Frequency: We identify the payment frequency which is best suited to your selling environment. This might be weekly, monthly, quarterly or annually.
- New Hire Programs: We create a program to help new salespeople transition seamlessly into their new roles.
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