9 Resources to Optimize Your Comp Management
The right incentive compensation management solution will provide the powerful data you need to optimize your territories, quotas, comp plans, and the overall performance of your entire sales force.
Join us for a roundtable to get you out of the rain with 9 actionable charts and graphs used by the world’s fastest growing companies.
Pay vs. performance and what that means for plan design
Performance distribution analysis to inform quota setting process
Correlation between quota and individual commission rate to measure the effectiveness of quotas
The answer is in the data: The bottom 20% of AE’s are expensive. If their cost divided by sales doesn’t cut it, and it’s time to coach or replace. Top performers’ checks may be hefty, but that’s not your comp issue. Review bottom performers to see how early in onboarding underperformance begins, and put an end to it before it’s a pattern through extra coaching, role adjustment, whatever the numbers say.
Garbage in, garbage out: Fix it! ICMs are worth it for course correction alone. Numbers don’t lie and sales is an experiment with a natural feedback loop. Fix your issues before they infiltrate every level of the pipeline. Drill down into highs and lows to determine the cause of discrepancies.
Hand Out the Glory, Not the Shame: Whatever you choose to do with leaderboards, make sure it’s motivation and not devaluation. Focus your sales people on what matters, direct that effort, keep it simple, but don’t be too granular or you’ll end up with reps majoring in one product and a team who feels underpaid and undervalued. Pure revenue isn’t always correlated with payout, and retention counts.
Scott Werstlein, SVP of Sales
OpenSymmetry enables clients to achieve greater operational efficiency and get better sales results. We are a global consulting company specializing in the planning, implementation, and optimization of industry leading technology suppliers of sales performance management solutions.