The Complete Guide to Sales Force Incentive Compensation: How to Design and Implement Plans That Work

By Andris A. Zoltners, Sally E. Lorimer, Prabhakant Sinha, et al.

Book Overview

A well-designed and implemented incentive program is an essential tool for building a motivated, highly effective sales force that delivers the results you need.

Incentive programs are seductively powerful but complicated instruments. Without careful planning and implementation, they can be too stingy to motivate, too complex to understand, too quick to reward mediocre results, and too difficult to implement. The Complete Guide to Sales Force Incentive Compensation is a practical, accessible, detailed roadmap to building a compensation system that gets it right by creating motivating incentives that produce positive outcomes.

Packed with hundreds of real-life examples of what works and what doesn't, this important guide helps you:

Understand the value of building an incentive plan that is aligned with your company's goals and culture.Avoid the common trap of overusing incentives to solve too many sales management problems.Measure the effectiveness of your current incentive program, employing easy-to-use tools and metrics for pinpointing its weak spots.Design a compensation plan that attracts and retains successful salespeople, including guidelines for determining the correct pay level, the best salary incentive mix, the proper performance measures, and the right performance payout relationship.Select an incentive compensation plan that works for your organization -- then test the plan before it is launched.Set territory-level goals that are fair and realistic, and avoid overpaying the sales force or demoralizing salespeople by having difficult goals or not fairly assigned.Create and manage sales contests, SPIFFs (Special Performance Incentive for Field Force), and recognition programs that consistently deliver the intended results.Manage a successful transition to a new compensation plan and build efficient administration systems to support your plan.

Filled with ready-to-use formulas and assessment tools and a wealth of insights from frontline sales managers and executives, The Complete Guide to Sales Force Incentive Compensation is your hands-on, easy-to-read playbook for crucially important decisions.

• Format: Paperback
• Language: English
• ISBN: 0814437737
• ISBN13: 9780814437735
• Release Date: August 2006
• Publisher: Amacom
• Length: 496 Pages
• Weight: 0.55 lbs.
• Dimensions: 1.3" x 6.9" x 9.9"
• Age Range: 17 years and up
• Grade Range: Grade 12 and higher

Customer Reviews

Not Practical, Regret Buying this at garage sale

Full of platitudes with Nothing actually useable. You would be better off with David Cichelli’s “Compensating The Sales Force” with 2x, 3x plans, preferably using the “uncapped” version. And the Alexander group’s “Compensating New Sales Roles”..For these two actually work, are not rambling PhD dribble of this book. In my 30+ years of Major Account Sales this book is bloated filler & fails to deliver practical applicable guidance. In looking for unsung gems in sales compensation this one quickly landed in the paper recycle basket to become something useful such as a cardboard box or grocery bag. Semper fidelis, DC