Make sure your commission plan is effective in attracting and retaining key employees.
There are few management tools that work as well in recruiting, directing, motivating, and retaining salespeople as a strong commission plan. This is critical because salespeople are often highly paid, remote from headquarters, and entrusted with customer relationships (very valuable assets). A properly designed commission plan clearly and personally communicates the strategy of the organization to resources that have a direct impact on financial performance. The design and deployment of a new commission plan can create a 5-10 percent uplift in revenue in a single year. However, mistakes in commission plan design are quite common and can have disastrous effects on performance. Help your company avoid sales force turnover, dissatisfied customers, runaway expense, and in the worst cases, litigation by understanding the core elements and decisions in commission design, management, and optimization. Simon-Kucher's Sales Effectiveness Practice leader will introduce a framework to help make large, complex, cross-functional decisions about commissions smaller and simpler. This material will also use real company examples to highlight best and worst practices.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Common Issues With Commissions in Today's Market
Methods and Metrics for Commission Program Assessment
- Root Business Issues
- Building a Scorecard From Guiding Principles
- Gaining Consensus on Redesign
Steps to Strategic Commission Plan Design
- Competitiveness - Level, Mix, Upside
- Execution - Eligibility, Performance Metrics, Goals, Formula Mechanics
- Administration - Crediting Rules, Payment Frequency, Policies
Broader Governance of Commission Plans
- Accuracy
- Accountability
- Alignment
Questions and Answers
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on February 8, 2023.
Call 1-866-352-9540 for further credit information.
- AIPB 1.0
- This program is acceptable for 1.0 CPEC(s) towards the CB designation through the American Institute of Professional Bookkeepers (AIPB).
- CPP/FPC
- Lorman Education Services is an approved provider through PayrollOrg. This seminar is approved for 1.0 RCHs.
PLEASE NOTE: To receive credit through PayrollOrg for this program you MUST attend the program in its entirety, complete all progress checks and pass the final exam. You cannot obtain credit if you have already completed this course in its live version.
HR Certification Institute 1.0
- This E-Learning program has been pre-approved for 1.0 (General) recertification credit hours toward aPHR®, aPHRi(TM), PHR®, PHRca®, SPHR®, GPHR®, PHRi(TM), and SPHRi(TM) recertification through HR Certification Institute® (HRCI®). For more information about certification or recertification, please visit the HR Certification Institute website at www.hrci.org.
SHRM 1.0
- Lorman Education Services is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CPSM or SHRM-SCPSM. This program is valid for 1.0 PDC(s) for the SHRM-CP or SHRM-SCP.
To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.
- Those applying for AIA and HRCI must view 100% of the program and answer the questions following the program.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Scott Sands
Simon, Kucher & Partners
- Senior Partner and Sales Effectiveness Practice leader for Simon-Kucher, a global sales and marketing consulting firm with 2,000 employees
- 30 years of consulting experience across multiple industries
- Consulted with hundreds of companies in technology, life sciences, financial services, manufacturing, distribution, and business services industries
- Has published and spoken at events on six continents
- M.B.A. degree, focus in marketing and organizational effectiveness, The University of Texas; B.E. degree in electrical engineering and mathematics, Vanderbilt University
- Can be contacted at [email protected] or 404-276-7876
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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