X-Factor Compensation Leaders: How to Be Incredible at Incentive Planning (Wolters Kluwer)
Building a successful sales compensation plan carries an incredible amount of responsibility for compensation planning teams. Those tasked with creating a plan must develop a process and incentive plan that will motivate and encourage the right sales behaviors to achieve goals, all while driving growth.
Finding the right mixture of compensation requirements is no easy feat, but luckily, it doesn’t have to be a time-consuming task. As part of our Friends of Xactly (FOX) Community, we’ve spoken with sales compensation leaders to create a blog series about their journeys in sales compensation, best practices, and the Xactly advantage.
Meet The Expert – Helen Rendos, Wolters Kluwer
Who: Helen Rendos
Position: Sr. Sales Compensation Manager
Company: Wolters Kluwer
Time in sales compensation: 20+ years
Bio: Helen Rendos has been working at Wolters Kluwer for eight years as Sr. Sales Compensation Manager. Prior to Wolters Kluwer, she was the director of sales compensation for Garter for 15 years. Rendos loves the beach, coaches cheerleading teams and loves life.
Wolters Kluwer is a global information services company headquartered in Alphen aan den Rijn, Netherlands. They offer a variety of products and services to provide information, software, and services to clients in the “legal, business, tax, accounting, finance, audit, risk, compliance, and healthcare” industries.”
Tell us about your career journey in sales compensation. (How did you get your start? How did you end up where you are today?, etc.)
“I actually started my career as a temp at Gartner. Gartner’s VP of sales mentored me and taught me how sales reps think and act in regards to sales Comp and incentives. I continued my journey at Gartner for 15 years managing multiple pieces of sales compensation including, sales compensation plans, managing goals, rankings. [After] leaving Gartner, I am now at Wolters Kluwer as the manager of Sales comp for our global sales teams.”
What are the biggest challenges you face in your role today?
“Reporting on metrics still is a challenge and finding an easy way to consolidate the data. In addition, part of our sales team [commissions are] still being manually calculated, which makes things a bit harder.”
Download our "Ultimate Guide to Sales Compensation Planning," for everything you need for a sales comp plan design project. Or, keep reading for more sales plan ideas.
How has technology played a role in your evolution as a sales compensation professional?
“Moving to Xactly has made my job so much easier. It takes much less time to get payroll out the door, as well eliminating errors.”
Describe your company’s sales compensation planning process, your role in it, and how Xactly has changed this process (What is your favorite Xactly tip/trick that you’ve learned?).
“Our process [starts by] looking at previous years’ data to analyze and determine if the current plan produced the desired results as well as [compensation] paid. Xactly has allowed us to pull the data from Analytics to be able to give management the data needed to make key decisions.”
What piece(s) of advice/lessons have you learned on your journey that you would share with your peers or younger self?
“Stay involved and stay on top of current trends. Develop relationships and trust within the sales organization and management. Trust is a key factor to credibility.”
How do you envision the future of sales compensation? What do you anticipate for 2018 that was different for 2017?
“We will be adding our manual excel based comp into Xactly for transparency for our sales reps as well as better consolidated reporting.”
Discover the Xactly Advantage for Your Company
At Xactly, we want to provide a simplified incentive compensation planning process. To do this, we partner with our customers and arm them with the tools they need for incentive compensation success. When the compensation of your company’s employees is your responsibility, you shouldn’t have to struggle with error-prone spreadsheets or manual commission calculations. Find the right Xactly solution for your business, industry, or role. Schedule your personalized demo today!
Complete Guide to Sales Team Compensation
Putting together your sales team requires you to consider the specifics of each person’s tasks, how those responsibilities move the team toward the given goal – and how to properly compensate each member.