2017 Comp Survey Uncovers the Best Practices of 240 World-Class Companies
A fast way to improve your business is to benchmark your organization against others and look for ways to improve. One area where many companies struggle to elevate from a cost center to a strategic differentiator, is in the administration of sales compensation. Companies struggle with process maturity, technology, and appropriate staffing levels. Factors like the volume of data, manual process, and the dirge of complicated sales compensation plans even further complicate things. To address this, Xactly hosts an annual survey on sales compensation administration to uncover best practices, determine better applications, verify long-held assumptions, and look for previously unknown correlations.
Get the latest version. Download the "2018 Sales Compensation Administration Best Practices Executive Guide," for incentive compensation trends, best practices, and tips to drive the right sales behaviors to kickoff your sales compensation planning.
The results of the 2017 Sales Compensation Administration survey have been complied, cleaned, and analyzed, and the resulting readout is jam-packed with information collected from 240 companies in 16 different industries. These organizations are successfully doing business in every region of the world, and if used effectively, this data can help your organization determine where you stand relative to your peers, address critical gaps, and create a roadmap for improvement.
The findings from the survey exposed interesting responses. For example, the information gathered told us that only 18 percent of companies report paying commissions with 99 percent accuracy. What’s also interesting is that 18 percent of companies don’t offer their sales forces’ reporting of any kind – leaving them left to their own devices. Sales teams who don’t trust their managers feel kept in the dark, which can lead to a strong sense of distrust in an organization.
The survey also came to find some interesting conclusions regarding compensation plans. For example, 74 percent of companies with simple compensation plans could easily adhere to their desired turnover rates, compared to the 63 percent of companies with complex plans.
Download the full survey to review the robust set of results, analysis, and best practice recommendations that your sales compensation administration can use.
Designing Sales Compensation Plans
With careful consideration and strategic design, you can use incentive compensation to inspire your teams and empower them to perform above and beyond the competition.