According to the IRS, about 33% of all employers make payroll errors that result in costly penalties. Compensation errors can also result in lack of compliance with the Fair Labor Standards Act (FLSA) and — you guessed it — more fines. Add to this the cost of overpayments and the cost of turnover when unhappy reps seek more accurate employers, and the price you pay for sales comp errors is high, indeed.
Tagged Archives: incentive compensation
Finance leaders who dive deep enough can use first-quarter results to improve productivity, mitigate risk, increase cost-effectiveness, and capitalize on emerging opportunities.
An end of first quarter check-in provides the visibility you need to assess your sales strategy and start winning now.
Be honest. How much time did you spend on Superbowl Sunday talking about the cost of a single advertisement, and whether or not it was worth the money? Probably a fair amount. Yet it’s quite possible your organization hasn’t given the same thoughtful consideration to how much it spends on a single sales deal.
Some organizations end up promoting their best sales reps into managerial roles. Have you fallen into this trap and whisked your best rep out of the field, or have you truly found a sales leader? If you’re nodding towards the latter, then you’ll do everything you can to keep the captain of your ship happy. You [...]
While channel surfing recently, I found an interview with Francesco Schettino, captain of the doomed cruise ship Costa Concordia, which slammed into the Italian coast on January 13, 2012 and killed more than 30 people. The accident occurred because the captain couldn’t see the radar. He wasn’t wearing his glasses. That’s happens when visibility is [...]
At Xactly, we’ve spent years studying what makes sales people tick. We understand the behavioral science behind their motivations. We are experts in what we do with in-depth understanding of sales incentives and behavioral drivers. In fact, a recent survey done by the Aberdeen Group found that sales people using Xactly were more likely to [...]
We had fun raising awareness for men’s health this past Movember, complete with mustached cookies, cupcakes, and babies. Only, here at Xactly Express, we raise awareness of smart compensation for SMBs every day. With a clear understanding of incentives, you can create automated plans tailor made by the rules you set. You also have real-time [...]
Incentive programs report an 80% success rate in achieving their goals when the correct reward is offered. (Source: Incentive Federation study) We know, we know. It sounds so simple. After all, none of us refute the ties between rewards and performance. As a matter of fact, more than 83% of organizations have some form of performance-based pay [...]
You wouldn’t send your sales team out into the world without training, any more than Bruce Bochy would send the San Francisco Giants out to play ball without some seriously targeted coaching. Especially these days. As more studies show the undeniable role coaching plays in improving reps’ performance, more companies are making the investment. But [...]