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Best Practices for Sales Compensation Design & Strategies Masterclass

Description
"The sales compensation plan is one of the more powerful tools that top executives use to direct, motivate and reward the salesforce for its contribution to business success.” (Valitus Group, 2008)

7 REASONS TO ATTEND THIS MASTERCLASS
1. Integrate effective sales compensation & benefits best practices into your existing sales compensation plan
2. Increase your sales profit
3. Reduce cost effectively with sales compensation and benefits packages that efficiently drive the salesforce
4. Optimize sales team’s productivity & Increase sales team’s work morale
5. Sustainably increase your sales team momentum
6. Increase sales team productivity
7. Increase sales force performance

5 KEY HIGHLIGHTS
1. Best Drivers of Sales Compensation Design
2. Successful Excel Spreadsheets Modelling
3. Winning Sales Incentive Design Factors
4. Top Design, Integration and Evaluation of Sales Compensation Design
5. Interactive Business Simulation, Case Studies, Examples and Discussions around Sales Compensation Design

TRAINING OUTLINE

1: Why Sales Compensation
  • When do you need / not need a salesforce
  • Sales compensation vs. other compensation
*Interactive: Class discussion

2: Key Drivers of Sales Compensation Plans
  • Nature of Business
  • Direct/Indirect Sales
  • Sales channels and customers
  • Type of products/services sold
  • Content of Sales Jobs
*Interactive: Class discussion

3: Analysing and Designing Sales Jobs
  • Common goals of all sales departments
  • Different sales department configurations
  • Sales Job Design Tools
  • Sales Strategy Matrix
  • Customer Pyramid
*Interactive: Case Study Exercise on Sales Job Design

4: Critical Sales Incentive Design Factors
  • Eligibility
  • Target total compensation levels
  • Pay mix
  • Leverage
  • Performance measures, weightings, and linkages
  • Commission vs. Bonus formula schemes
  • Performance levels and ranges
  • Ramps
  • Performance/payout periods
  • Quota practices and territory assignments
  • Sales crediting
  • Special incentives
  • Practical application to case study after each design stage
*Interactive: Class Discussions
Case Study Exercises—after each design stage
Sharing proven research

5: Construction of a Sales Compensation Matrix
  • Matrix Design Principles
*Interactive: Case Study Exercise
Providing an Excel compensation matrix template

6: Sales Incentive Modelling and Refinement
  • Modelling sales incentive
  • Plan refinement as a result of modelling
*Interactive:
Excel Examples
Class Discussion

7: Communication and Implementation of Sales Compensation Plan
  • How to Communicate the sales compensation plan to your salesforce
  • Implementation strategies
*Interactive:
Class Discussion / Sharing experiences
Examples of communication documents
Case Study Exercise

8: REVIEW AND ASSESSMENT
  • Methods of reviewing and testing sales compensation plan for effectiveness:
  • Payout vs. performance scatter charts
  • Comparison of sales comp levels to market
  • BP / VP actual ratios vs. desired ratios
  • Cost of sales
  • Achievement against targets
  • Interviews
*Interactive:
Excel review test examples

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INVESTMENT FEE: USD 2,000 per pax
Group discounts available.
Event Timeline
Sep 9 - Sep 10, 2015
[ Wed ] - [ Thu ]
8:30 AM - 5:00 PM MYT
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Venue
Hotel Istana Kuala Lumpur
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Venue Address
73, Jalan Raja Chulan, 50200 Kuala Lumpur Malaysia
Organizer
FINANSTO
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