Sales Compensation

Issues & Best Practices Regarding Earnings Caps in Sales Compensation Plans

Implementing earnings caps into a sales compensation plan can be a highly contentious and often focal point for discontent with the plan. No feature of an incentive plan causes more resentment than a cap. In most cases, the application of caps is a result of perceived overpayments in the previous year or as a risk avoidance measure when there is the potential for large deals or significant over achievement on

sales compensation

By 2025, Millennials will account for three-quarters of working-age people. Although Gen Y will soon make up a majority of the workforce, it will still be a number of years before they constitute the lion’s share of the top-level of leadership. For now, the focus remains how to compensate and motivate your Millennial workers. To achieve this, we need to understand who they are and what they want from their

sales compensation

We’re nearly halfway through 2018 already! Can you believe it?! There have been some awesome international sales and operations conferences so far this year including Pulse, 10X Growth Conference, Rainmaker, and InnovateWork Toronto. Here are some top sales compensation orientated conferences happening throughout the rest of 2018. SiriusDecisions Sales Leadership Exchange, 8-11 May 2018, Las Vegas: Focused on B2B leaders in sales, sales operations, sales enablement, incentivization, and channel sales, this conference

sales comp plan for 2018

InnovateWork Toronto Panellist David Johnston Offers His Take on People Analytics Ahead of Big HR Summit The Sales Resource Group’s President, David Johnston, was published this week in Toronto-based HR publication, The HR Gazette. David Johnston’s latest article is called People Analytics – Why We Need to Invest in More Than Just Data! and considers why so many incentive programs have failed to meet expectations, what are the root causes of lack of commitment

SALES TEAMS

Few factors are more vital than maintaining a competitive sales compensation when it comes to recruiting, hiring, and retaining the best salespeople. Here are our tips to help you make better decisions about base salary, commission, bonuses, and other vital factors which will influence how your sales team members act. Transparency First and foremost, we suggest that whenever possible, be upfront and transparent with your sales team members. Make sure

social selling

Sales Compensation Strategies for Getting More From Middling Sales Pros Most business leaders are focused on rewarding and retaining top performers (aka the ‘breadwinners) with the assumption that by making the top lucrative enough, it will increase everyone else’s performance as they try to get there (which is a false presumption). Sales leadership and sales operations spend hours in meetings discussing how to design a sales incentive plan focused on

Increase revenue

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

Commissions

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

social selling

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

Sales Performance

The CPSA’S Sales Compensation show recently interviewed Sales Resource Group President, Dave Johnston. The episode considers strategies to reward and develop your best salespeople. Listen to this episode of the CPSA Sales Compensation Podcast and discover: * Why is it important to develop sales talent from within? * What are the critical elements in a successful development model? * When creating a development model, how do you set expectations? Want