Have you done your mid-year sales compensation check up yet?
Well, you should.
Because, as Sibson Consulting expert Joseph DiMisa paraphrased in a recent Xactly webinar, “No one or no thing knows whether a thing is good or bad until a comparison is done.”
Now, that we are all on board with the incentive review, what do you do if you find a problem? It isn’t hard to imagine that sales people won’t be thrilled if their pay plan is changed mid-year.
In the end, that depends on what kind of problems you found. According to DiMisa, there are several different types but not all require major incentive surgery.
The types of course corrections that DiMisa most often sees are:
- Emergency surgery: You’ve got big issues, need an immediate overall and should develop a plan to keep people focused during the changes.
- Tweaking: You’ll need to make big changes next year, but right now a band-aid will do the trick. Your problem isn’t as big as the cost of fixing it right now.
- SPIF-y: You need to focus on a few key products or maintain momentum and a SPIF can help you do it.
- Rasta style: Hey, everything is going to be all right. Don’t change a thing.
Want to know more about discovering if you need to make an incentive change and how to implement it? Check out the webinar.