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
The purpose of this e-reward bonus scheme toolkit is to provide practical guidance to any organisation which wants to develop and introduce new bonus schemes, review existing schemes, maintain their effectiveness and evaluate their impact.
Use this toolkit to understand
what are bonus schemes
why organisations bonus schemes
description of purpose and features of major types of bonus schemes
the evidence regarding their prevalence in the UK
their key characteristics and components
what are the pros and cons
key ingredients for success
the development path for designing, introducing and maintaining a bonus scheme.
What the toolkit contains
A general introduction in which bonus schemes are defined and their aims and features described (section 1).
A description of the seven stages involved in developing a bonus scheme (section 2).
A brief listing of sources of further information (section 3).
A summary of the the key findings was published in issue four of The Reward Quarter - download it from the 'Quarterly magazine' section of e-reward.co.uk.
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