Learn how compensation should be used to drive a competitive advantage in organisations. The right commission plan can help attract and retain top talent and it is the most critical factor in driving sales behaviours. It is important to look into the commission data across companies and industries to benchmark what the optimal pay mix should be in order to drive the right behaviours.
In this guide, you will discover:
:: How to use sales data to create a strong pay mix
:: Real-life examples of successful sales pay mix
:: Industry-specific pay mixes
Rainbow Trust, a charity that supports the families of children with life threatening or terminal illness, introduced performance management in 2010/11 as part of a strategic plan to produce a step-change in the number of families it is able to support. Four years down the line, the number of supported families has increased from around 1,000 to 1,700 and all parts of the organisation now work 'more collaboratively'. Fundraising has also benefited, with income rising from £3.98 to £4.65 million over the same period. The new performance management scheme, and the more recent introduction of performance pay, is also 'helping to sustain employee engagement' at the charity. Data from an annual employee survey, which regularly achieves 100% participation, demonstrate that a high proportion of employees fully understand the business priorities.
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