Why Setting Targets and Quotas to our Employees Can Be So Frustrating
Targets and quotas provide workers with a goal that they strive to achieve. In addition, they provide a baseline against which employees’ performance can be measured. When used correctly targets and quotas also serve to motivate employees to achieve more than they normally would thus increasing work quality and quantity. They also clarify employer expectations […]
Does Your Incentive Plan Drive Your Costumers Away?
Companies who implement sales incentive plans usually do so in an attempt to improve the performance of their sales representatives. However, internally focused sales incentive compensation plans can cause the sales reps to work against the customers’ interests and harm the customer trust in the long run. These harmful incentive plans, and the behavior they […]
How to Evaluate Your Channel Partner
In today’s marketplace many companies are forced to sell indirectly and often choose to use the services of a channel partner. This method, though widely used, also poses some challenges. When it comes to channel partners, finding the perfect fit could be hard. Before creating the partnership, a company must figure out what would make […]
Boosting Your Sales Incentives to Boost Your Profits
I recently came across an interesting article at all Business that outlined ways to improve your sales compensation plans in ways that will increase the company’s profits. A good compensation plan is substantial when it comes to sales; a poorly crafted plan can have various effects on a company – from disgruntled employees to bankruptcy. […]
Show Me the Money? Are Cash Incentives the Great Motivators We Think They Are
According to a recent research published by the UK recruitment site Salestarget.co.uk, money is the main motivator among sales personnel, with over a third (37%) of sales representatives choosing money as their main motivator in their work. In addition, over half of the participants said that receiving performance-based incentives improved their quality of life, with […]
Merits of an Employee Wellness Program
If you think that work is your life – you might not be wrong. A recent survey done by the U.S. Bureau of Labor Statistics showed that in 2011 the average American worked or engaged in work relating activities 8.8 hours a day on average, 1.2 hours more than time spent sleeping (7.6 hours). That […]
The Gamification Revolution
A new phenomenon is sweeping the business world by storm, making the workplace more fun, exciting and productive for employees and employers alike. Gamification (combination of game and application) is the use of game-thinking and mechanics in a non-game context. Gamification encourages employees to interact with their peers while incorporating competitiveness and fun into the […]
Employee Incentives in Difficult Times
Though recent numbers show that unemployment in the U.S is declining, the reality is still far from perfect. Even with unemployment rates showing an improvement, one must wonder if the workers are better off. Are they choosing between multiple employment options or just accepting the first job offer that comes their way or the first […]
How can SPM help organizations cope with financial downtime?
While the global economy seems to be recovering from the 2007/2008 recession, not all businesses are experiencing an upsurge in their sales. For the last four years, many companies have gone under while those still surviving are barely holding by the straw. Though the aftershocks of the recession are still being experienced in regions such […]
SPM Software Helps Managers Be More Efficient
Does it ring a bell in your head when you hear the words, “Sales Performance Management”? I am sure it does! There are millions of businesses around the world that want to know about the performance of their sales staff. How good is a sales employee in convincing the customer to buy the products or […]
Incentive Compensation Plans Improve Motivation Levels of Employees
Currently every successful business on the face of the planet focuses widely on the development of its human resource. Human resource is one of the most important components of an organization. Workers in an organization need to be well-motivated towards their work as this is one of the most important conditions that needs to be […]
Pay Mix 101
Pay mix refers to the portion of base salary and incentive that makes up an individual’s total salary at a job. It is also usually the most influential behavior driver for a salesperson and a major financial decision for the company. From the company’s financial standpoint – it sets a substantial part of their sales […]
Finding the Best Compensation Incentives Management Software
Sales compensation incentives are a primary driver and motivator for many company’s sales figures. However, many companies really struggle with calculating, tracking and checking the incentive programs’ profitability. Here are some suggestions to consider when seeking the best compensation incentives management software for your company. With most automated sales compensation software being very expensive, many […]
Boosting Sales Performance
I learned the important lesson that being busy doesn’t necessarily means being productive while serving in the military. In the unit I served in, it was frowned upon if a person went home before 18:00 – the pressure was constant and staying late was the norm. However, sometimes there wasn’t any work to be done, […]
Are Executive Compensation Plans in the Pharmaceutical Industry Flawed?
In our last post, we explained in general on the sales compensation plans in the pharmaceutical industry, plans that include all sales employees. But are the plans which, were very traditional and stagnant what the industry needs at times of lower revenues and overall decrease in sales staff? A new research by the Hay Group […]
Can we keep our indirect channels close to us?
Motivating channel partners can be different from motivating the company staff and the company would normally need a software company’s channel management services. Motivating channel partners such as dealers requires directing their inspiration to easy sales of products. Basically, the business partners would need to vertically build their own business in a quicker and easier […]
Compensation Management driving Sales performance
Sales performance management is the art of combining performance data with improvement processes of the businesses with the aim of driving sales effectively. At its central point is the incentive compensation management practice and the impact of the business grows with addition of other critical processes for instance analytics and dashboarding, territory and quota management […]
Why and how do we reward great performance of our employees?
The employees’ performance is the most essential component in having an auspicious business. Also, employee assessment is acknowledged the most influential apparatus for guaranteeing a centered, captivated and likewise remarkably profitable workforce. Establishing a communication strategy is perhaps one of the most vital elements of any important organizational change. The communication strategy must cater for […]
Can we measure performance of Marketing?
There has never been a greater requirement for marketing accountability. Designing a performance management platform for marketing may improve measurability and better align marketing activities with business goals. Popular measures used to analyze are activity-based metrics which entails numerical counting and reporting. For example, tracking downloads of documents, website visitors, attendees at events are kinds […]
Coping With the Unattainable Quota Syndrome
We all went through the quota assignment dilemmas as sales reps or as sales executives. Quota assignment is a major tool to spur the sales force to reach the numbers and improve their performance. The compensation plans for the sales reps is dependent on how they stand towards reaching their quotas. Often does management tend […]
3 HUGE Sales Management Mistakes
Being a good sales manager requires not only a good sales effectiveness tools but mastering of a vast set of skills. Unfortunately, while in order to be a good sales manager you must do a lot of things the right way, in order to be a bad one you only need to do a few […]
What is An SPM System?
Today, career in sales is very lucrative for many due to the challenges and reward it possesses. Moreover, every organization makes sure that it has top class sales performance in order to meet its financial as well as strategic objectives. Hence, the concept of Sales performance Management has received considerable importance in today’s business world. […]
Ranking Out, Incentives In
Sales managers are constantly looking for ways to evaluate and measure the performance of their teams, especially because in this specific profession, performance is closely linked to compensation and incentive packages. Since employee evaluation is always the first step in any incentive plan, many evaluation methods, both objective and subjective, have been developed. However, in […]
Trend in Performance Management – How Changes in Technology and Communication Changed Performance Management
While performance management is a crucial component to business success, there is a universal agreement among business leaders that it is poorly or under used within organizations and therefore is not able to achieve its ultimate goal of enhancing performance. Many organizations find their current performance management solution to be too complex, outdated and inefficient, […]
Overview of compensation & benefits in the tech industry
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Incentive Solutions appoints Drorit Goldzand VP Customers, Marketing and Sales
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SPM platform is your partner for effective Account Based Selling (ABS)
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How Can Pareto Analysis Help your Sales Operations Minimize Opportunity loss
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5 rules of thumb to ensure a lower risk, lower cost, successful project
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Three reasons why you should be using Prescriptive Analytics to motivate your sales staff
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3 reasons why your P&L wants you to become BFF with your external channel sales personnel
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Emerging Trends in Employee Retention Strategies
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