Can you believe 2016 has come and gone already? The years seem to keep going by more quickly. But with another passing of the calendar comes more informative and entertaining blog posts. Below are a handful of our top posts from 2016. Maybe you've glanced at these before, or perhaps they are brand new to you. Either way, you're sure to learn something new, and kick off 2017 informed of the latest and greatest in Sales Performance Management.
While we only addressed four of the seven deadly risks, in this post (find the additional three here) these alone should make any CFO think twice about their reliance on spreadsheets to manage the critical sales compensation process.
When you look at the right things when designing a successful sales incentive compensation plan, you’re more likely to reward the right sales behavior — and more importantly, your sales team will be more likely to achieve the sales performance you want.
When it comes to managing employee performance, MBO and OKR are like the parent and the child. MBO Programs were invented by Peter Drucker in 1954, and OKR was introduced by Andy Grove about twenty years later in the 1970’s. The two approaches have just enough in common to be recognized as related, but they have some key differences that set them apart from one another. That said, both models help managers set goals for their employees and ensure that they meet them. Read on to find out the key differences between MBO and OKR.
To motivate and manage Millennials properly in the workplace, you need to understand who they are, what they care about most, and why some people have a harder time reaching Millennials than others.Why bother? Because Millennials make up more than 33 percent of employed Americans (ages 18 to 34 in 2015), the largest generation in the American workforce, according to the Pew Research Center (based on U.S. Census Bureau data). That means 53.5 million Millennials currently in the workforce.
When it comes to sales compensation planning, you can never start prepping too early, right? Let’s take a top down approach to figuring out how we should be creating these plans, and start by designing the sales manager compensation plan. Like any good leader, the Sales Manager is responsible for their team’s performance, and as such they should be rewarded for that performance. The Sales Manager is typically measured on similar measures as the team they manage, with potential additional components that are relevant for a managerial role. This alignment ensures that the Sales Manager is steering their ship appropriately and that all the reps they manage row in the right direction.