A recent report from the Alexander Group’s Sales Compensation practice found that sales departments increased sales volume 5% in 2017. This was equal to the projected growth of 5% estimated at the end of December 2016 for 2017 performance. Meanwhile, sales leaders expect sales revenue to grow 6% this year. 2% was the median increase in incentive payments to sales personnel in 2017, matching the planned 2% increase anticipated at
Your sales team is vital to your company’s bottom line. The way your salespeople are recognised and compensated can have a huge impact of the revenue your organization can achieve. No sales comp plan is perfect but finding the correct balance between controlling the downsides while still reaping the positive effects will distinguish your from your competitors. In this SRG article, we’ll discuss one of the most-used sales comp plan
Every business wants to find that fuel that will accelerate the sales engine. Often, they turn to sales commission as the solution. Done correctly, commissions can be that foot on the gas that your organization needs; however, commission-based sales also create new challenges for organizations, and making changes to existing commission structures can cause dissatisfaction in the team. Find out how to structure commission to ensure that your implementation is
One of the brands with which SRG collaborates is the Canadian Professional Sales Association. In addition to our team being members of the sales association, SRG President David Johnston has been a guest presenter, author, interviewee and even a podcast host with the CPSA! It’s been a fantastic journey so far and it’s important to get such opportunities to reach wider audiences of Sales professionals and business leaders in order
We all know that incentives work. We use them all the time – to teach and motivate children, to train our pets, and to encourage salespeople. While no one questions whether incentives work, we do often question which incentives work, or how they should be given out. In a business, and specifically on a sales team, compensation structure can be a complex issue. Businesses must balance the need to incentivize
Future of Sales: The Impact of AI and How Top Salespeople Will Thrive If you pay attention to technology, you will have heard about AI and potential is has to disrupt the workforce. Many jobs will be automated and replaced by computers, and there are reports that millions will be out of work. While this glimpse into the future may be scary, sales people can rest easy. The best sales
Social media is here to stay – everyone from your great aunt to your boss to your kids are sharing statuses, goofy faces, or live updates. These platforms give people entirely new ways to connect with one another, and this is something that sales professionals need to leverage to succeed in the modern sales environment. With all of the different platforms and features out there, social selling can become overwhelming.
One of the factors that encourages many people to take on a career in sales is the commission. Through commission, sales professionals have the opportunity to take home very high incomes; however, they also have the risk of taking home very little. Professionals considering commission-based roles need to be aware of what it takes to make it in sales, and should only take a commission-based role in the right circumstances.
One of the many complaints that entry-level candidates have about finding a job is that employers always want someone with at least two years of job experience. They wonder how they are supposed to gain two years of experience if no one will hire them. On the other end of the career spectrum, mature workers have difficulty because there is a stereotype that older workers are unable to learn new
While most sales organizations are pushing hard to deliver the sales results for 2017, it is not too early to start planning and preparing your sales compensation plans for 2018. World class sales compensation programs are a result of well organized and executed plans that closely align to the annual business goals and sales strategies of the company. Those organizations that struggle every year to get the desired results from