June 2001
Intermediate to advanced
416 pages
11h 28m
English
book
Compensating New Sales Roles: How to Design Rewards That Work in Today's Selling Environment
by Jerome A. Colletti, Mary S. Fiss
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Phase B. Determine Financial Requirements
The design process needs to address how much a compensation plan will cost as a percentage of sales as well as how to pay out compensation earned under the plan. Prior to detailed design, it is critical to determine the level of cash compensation that will be available for each job.
Step 4. Establish Compensation Levels
This task calls for a balanced approach to be sure that the pay levels are externally competitive (to attract and retain talented people) and internally equitable (to facilitate retention, career movement, and team cooperation). The cash compensation level for each job must also be large enough to motivate and to pay for performance to drive business results. You must balance mix (at-risk ...
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I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.