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
This guide starts with a definition of team pay, followed by a description of the purpose and features of team reward strategies. A good deal of space is devoted to enumerating the pros and cons of team pay, and we also offer some guidelines on designing a scheme.
Michael Armstrong has devised a logical and systematic approach which will you support you through the challenge of developing and implementing a team pay scheme that best suits your organisation, the type of teamworking that operates within your organisation and your current and emerging business strategy. This seven-step process is set out in chapter 6. The report concludes by looking at some of the dilemmas reward practitioners may encounter when introducing team pay and highlights some practical solutions from leading team reward gurus.
For more details see our review, published in the 'News' section of e-reward.co.uk, 15 July 2003.
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