Sound Bite: What Are the 3 Steps to Develop a Sales Compensation Plan?

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3 Steps to Developing a Sales Compensation Plan

 

 

There are, essentially, three elements involved in developing a sales comp plan.

The first is the upfront research that needs to be done to give you the data that you need in order to effectively model and calculate. Companies should get input from the leadership and sales leaders within the organization in terms of their direction and what they want to achieve.

The second element is the development phase where you take the organizational input and then you go through a design process in order to come up with the right plan for the role or roles.

Then finally the third element is the modeling, communication, and implementation.

 

Another Helpful Tip Brought to You By The Sales Compensation & Strategy Podcast

The Sales Compensation & Strategy Podcast by the Sales Resource Group offers sound bites and interviews relating to all things sales compensation-related. Join David Johnston to learn how to improve your sales comp plans and get more from your employees.

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