Design an Incentive Compensation system that rewards both the SalesForce and the Company at the same time!
After 25+ years of experience working with over 1500 SalesForces, Cura understands what key drivers insure long term success for the company and how best to deliver them through sales incentive system design.
ProFormax, Cura's Sales Incentive System Design process has been perfected to help management not only improve the bottom line but also insure that the right behaviors are recognized and rewarded and that the SalesForce remains positively motivated to continue to excel.
ProFormax - The 4 step process for pay - based on real achievement
1. Develop Incentive Plan structure - The process always starts with gathering the facts - not only about what your company has done but also how it compares with industry practice for similar positions. We can help you set key targets for long term business success and translate them into measurable sales objectives for your Sales team. We will work with you to develop a total compensation structure that establishes the appropriate balance between base and at risk compensation, is competitive with industry behavior and positions you to attract and retain top quality sales professionals. Finally, we can also help to set up clear measurement tools to track performance and provide current feedback to both the SalesForce and senior management.
2. Setting Objectives and Priorities - Once the Incentive Structure is designed it must be clearly communicated to and accepted by your SalesForce. We can help with the process of gathering their input along the way and gaining their acceptance once it's in place. Their comfort level will grow once they clearly understand what's expected, the yardsticks for determining success and how their performance both good and not so good will be recognized. If these agreements and understandings are put in place up front, the probability for success down the road is high!
3. Quarterly reviews - Feedback is the key to insuring that efforts remain focused on achieving the targeted results. Quarterly review sessions that are meaningful, constructive and focused on YTD results achieved, priorities for the next quarter and any changes in expectations are the best way to keep the SalesForce motivated and increase the chances that there are no unpleasant surprises at the end of the year..
4. Measurement, recognition, corrective action - If the plan was properly structured, communicated and agreed upon up front, and quarterly reviews that focused on performance, priorities and expectations were held, the end of year discussions will be a breeze. For those in the team that met or exceeded expectations their rewards should easy to determine and communicate. For those whose performance needs tweaking, corrective actions must be clearly defined, expectations set and time tables for improvement established.
The ProFormax process assures that total compensation is designed to motivate the right behaviors from the SalesForce - behaviors that will align with the company's objectives. Accountabilities become clear from senior management through the individual sales representative. At the end of the year, good performance rewards the company with improved bottom line results and the Sales Team with well earned and competitive compensation - everyone wins!
The Cura Group
"We build SalesForces with our clients."