Every company manages some form of incentive compensation, but this is becoming harder to do without the right technology. Discover the fundamentals of sales compensation management and why technology is critical to motivate reps and drive revenue.
The strongest organizations know that incentive compensation is key to driving sales behavior and hitting revenue targets. It’s why U.S. companies, on average, invest more than $200 billion on it, according to Harvard Business School.
But in order to be successful, you must continuously optimize your incentive strategies and make swift changes to stay on target for revenue and growth goals. As a result, Salesforce reports 77 percent of companies have accelerated digital transformation to increase planning efficiency and compensation effectiveness.
But it can be difficult to know where to begin, how to use your data effectively, and how best to optimize your sales compensation plans and motivate your team.
In this guide, you’ll learn everything you need to know about incentive compensation design, management, and optimization, including how to:
- Use data for more strategic planning
- Determine pay mix and incentive structures by role
- Communicate and roll out new plans
- Reduce inefficiencies and errors with compensation technology