Best Practices in Commission Pay Plans
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Make sure your commission plan is effective in retaining and attracting key employees and learn how you can improve it.There are few management tools that work as well in recruiting, directing, motivating and retaining sales people as a strong commission plan. This is critical because sales people are often highly paid, remote from headquarters and entrusted with customer relationships (very valuable assets). A properly designed commission plan clearly and personally communicates the strategy of the organization to resources that have direct impact on financial performance. The design and deployment of a new commission plan can create a 5-10 percent uplift in revenue in a single year. However, mistakes in commission plan design are quite common and can have disastrous effects on performance. Help your company avoid sales force turnover, dissatisfied customers, runaway expense and in worst cases, litigation, by understanding the core elements and decisions in commission design, management and optimization. Aon Hewitt's Sales Force Effectiveness Practice leader will introduce a framework to help make large, complex, cross-functional decisions about commissions smaller and simpler. This material will also use real company examples to highlight best and worst practices.
Scott Sands, Aon
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