Xactly CompCloud 2013 - SAN FRANCISCO – May 15, 2013 – Variable compensation has long been a proven lever in sales organizations to align employee behavior with corporate objectives and inspire better performance. Leveraging its vast expertise and leadership in the incentive compensation market, Xactly is today bringing the motivational power of incentives to all employees, at any company, in any department, with Xactly Objectives.
Employees are a company’s most important asset and their goals are more often achieved when they are tied to specific incentives. With Xactly Objectives, companies now have an enterprise-strength cloud solution that lets managers’ link company goals to employee behavior, helping them further engage and motivate employees to perform to their full potential with targeted bonuses tied to short- and long-term corporate objectives.
“Pay-for-performance programs are a powerful driver of employee behavior, proven to increase employee performance by more than 22 percent1,” said Christopher W. Cabrera, president and CEO, Xactly Corporation. “Yet variable compensation for employees is often measured arbitrarily and rewarded subjectively, stifling employee motivation and performance potential, while opening up the company to the risk of misaligning payment with the actual performance delivered. Xactly Objectives builds on our years of sales compensation expertise to unlock the power of incentives for any employee, helping organizations better engage their workforce in achieving company goals and maximizing the ROI of their variable compensation programs.”
Augmenting a company’s existing employee performance management system, Xactly Objectives is the industry’s first Management by Objectives (MBO) solution built on a proven incentive compensation platform, allowing businesses to easily set measurable, aligned businesses objectives for each employee; provide employees with real-time visibility into their performance; calculate achievement of those metrics; and send the final numbers through to payment, all in one easy-to-use system.
Extending the Power of Pay-for-Performance Incentives Across Any Department
“The necessity to incent people for performance continues to be a place for dramatic impact and improvement for businesses, just as variable compensation has done for sales teams,” said Mark Smith, founder and CEO of Ventana Research. “To improve productivity and performance, organizations should engage with employees to determine where objectives are achievable and methods for where bonuses and rewards can be granted. With Xactly Objectives it is much simpler for organizations to manage this process and apply incentives effectively to increase any employee’s motivation to perform at the peak levels desired - which can have a significant impact on overall business results.”
Xactly Objectives enables companies to incent right across the employee value chain, including:
- For managers: Xactly Objectives allows managers to easily set and track employee’s performance objectives, weighting each one based on the importance to the company’s overall strategy. For example, a marketing employee’s bonus could be measured based on individual performance goals, such completing a set number of webinars and attending various industry events, as well as a team goal of raising the company’s net promoter score (NPS). Managers can view each employee’s attainment towards goals on a single, comprehensive dashboard, allowing them to easily pinpoint problem areas that may require additional coaching or mentoring, or where employees should receive accolades for reaching certain milestones. They can also easily work with employee’s mid-cycle, be it weekly, monthly or quarterly, to realign their objectives to reflect a change in corporate strategy or direction.
- For employees: Through intuitive, personalized dashboards, Xactly Objectives empowers employees to easily track their objectives and how they are mapping to goals in real-time. The dashboard is updated each time a metric is met or a key objective changes, so employees can be instantly recognized for their contributions, always know exactly where they stand according to plan, and can visualize what they need to do to achieve their maximum financial reward.
- For executives: Not only do traditional spreadsheet-based incentive management practices stifle employee motivation and performance potential, but they open up the company to the risk of mistakes, payments that are misaligned with the actual performance delivered, and a lack of understanding of how compensation attainments will impact the bottom line until the cycle has ended. Xactly Objectives ensures that executives always have a clear view on how specific goals are driving business results and where compensation programs are tracking to plan.
Xactly Objectives will be available in summer 2013. For more information, please visit: bit.ly/xactlyobjectives.
1. Condly, et. al., “The Effects of Incentives on Workplace Performance: A Meta-analytic Review of Research Studies,” in Performance Improvement Quarterly (2003) Volume 16, Number 3
About Xactly Corporation With Xactly, companies of all sizes and industries can unleash the motivational power of their incentive compensation programs to inspire better employee performance and business results. Xactly’s secure, cloud-based incentive compensation and performance management solutions enable emerging businesses to Fortune 500’s to easily design, manage and optimize incentive programs that save time, cut costs, reduce risk and align employee behaviors with corporate goals. As evidence of Xactly’s continuous innovation and exceptional customer-centric culture, the Wall Street Journal twice named Xactly to its “Next Big Thing” list; Great Place to Work featured Xactly as one of the top 25 small workplaces in the nation in FORTUNE Magazine; and Salesforce.com customers voted Xactly the best sales compensation management solution in the Salesforce AppExchange Customer Choice Awards. To learn how you can incent right and achieve more with Xactly, visithttps://www.xactlycorp.com/ or call 1-866-GO-XACTLY (469-2285). # # #
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