Articles

4 Ways to Improve Your Employee Performance Management

A new trend in the business world is the growing influence of employee performance management software. What was once used as a way to simply assess employees over time is now being seen by many executives as a viable way to improve both culture and results for businesses as a whole. Despite its increasingly important role in running a successful business, a recent survey by the Chartered Institute of Personnel and Development revealed that many companies still struggle to effectively use employee performance management software.

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Sales Performance Management Challenges and Solutions

You want to motivate and engage your sales reps to perform at the best of their ability, and you want to have visibility into your employee’s performance so that you can ensure your entire sales process is running as smoothly and effectively as possible. With the increased transparency into your Sales Performance Management system that […]

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5 Ways To Recognize Employee Performance Through Incentive Compensation

Today, incentives are not only for sales people. Companies that want to stay ahead of the curve are using incentive compensation to reward employees and recognize employee performance. Savvy executives know that a happy staff is a more engaged staff, and a more engaged staff translates to more satisfied and well taken care of customers.

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10 Steps to Improve Sales

GlenGarry Glen Ross trained sales reps to “always be closing,” Tommy Boy taught sales reps everywhere that relating to people on a human level closes deals, and Pam Beasley of The Office showed us that determination and ambition goes far. There are hundreds of famous ways to improve sales, and below are ten of the most meaningful ways to increase your pipeline and close more deals:

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8 Ideas to Develop a Successful Sales Plan

You finished out a great Q4 and now it’s time to hit the ground running in Q1. Most companies have likely already set a sales plan, but it’s never too late to re-examine the way that you’ve created your sales plan, and how it can be improved. Below are eight ideas to ensure that this year’s numbers surpass last years and that you hit all of your company’s goals.

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Cut Once: Sales Operations Management Measurements

Sales Operations is a vital and vibrant role that serves to elevate your organization from a reactive state to a proactive position. Sales Ops opens up all sorts of new avenues for growth and inspiration within your company, and without a Sales Ops team dedicated to breaking open the data and utilizing all available analytical […]

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Incentive Compensation Design Plans

When creating an incentive compensation plan, you need to involve the right number of people. You’ll need executive support for your compensation management reform across your entire organization, but having too many people means too many agendas.

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10 Tips To Improve Your Sales Performance

As a seasoned sales rep, you have probably learned some potent industry tips and tricks during your career, and you’re likely to have already created a solid recipe for increasing your sales performance. It’s likely that you’re not new to the sales world, and that you’re probably reading blogs like this to refresh your knowledge, not just learn the secrets of your experienced peers.

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Ten Surefire ways to Increase Sales

It’s been shown that by the time you make contact with a prospect, they’re already at least 50-70 percent of the way through the buying process. That means customers are more informed than ever, and businesses and reps need to be increasingly savvy about the way in which they sell. As a modern sales rep […]

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MBO Programs Are The Way To Go

Where does employee engagement rank on your list of priorities? Based on current statistical surveys, it should be among your top concerns. A recent study showed that as many as 75% of employees are not fully engaged in their work, 48% of employees don’t enjoy their job, and 18% of employees were actively disengaged – or more accurately, were disgruntled and maliciously counterproductive.

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Everything you wanted to know about Sales Compensation (but were too afraid to ask)

So what exactly is adequate compensation for top performance? What pitfalls are there to overpaying vs. underpaying? How do you even know if and when you are paying too little, or too much? The answers to these and more questions are ahead, so buckle up and grab a pen – we are going to take apart Sales Compensation, and figure out just what works and what best practices you need to achieve inspired performance.

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6 Key Ways to Effectively Manage Sales Quotas and Territories

When you begin a conversation about sales territories, you’re destined to get into a conversation about sales quotas, and vice versa. This is because one of the first questions a sales rep will ask when she gets her compensation plan is “what’s my quota?” and the second question is likely, “what’s my territory?”

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Growth Hacking Transforms Business

If you’re working in the business world, you may have heard the term growth hacking being thrown around. The term, which most often has to do with marketing tactics at startups, is more than just a buzzword. Growth-hacking combines search engine optimization, web analytics, content marketing, and social media to market products and promote business. […]

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Sales Incentives: The New Rules

While it’s great to set high standards, managers that set the bar extremely high (so high that they know it’s unlikely their reps can meet them). Forget to take into account that people like to succeed and reach their aims. It’s discouraging for a rep to put in 100% of her effort and still come up short.

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Overcoming the Challenges of Sales Analytics

Successful, cutting edge companies have discovered the secret to making their sales departments successful- good data. Analytics provide you with business intelligence around your compensation investment, allowing you to make strategic decisions and maximize your sales performance and ROI. When it comes to making business decisions about anything, from quotas to plan metrics, companies that […]

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Big Data Revolutionizes The Sales Industry

In 2013, big data was hailed as one of the year’s biggest buzzwords, but the phrase is anything but a fad. Without even realizing it, going on the Internet or using your mobile device exposes you to the influence of big data, and your actions over time contribute to its growth. In just one day, […]

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Strike the Right Balance in your Sales Strategy Template

In a previous post, we talked about the challenges faced by overwhelmed sales managers with too few management layers below them. This sales management process is difficult because with so much activity to track, managers aren’t able to give their sales teams the sales management tools needed to optimize the sales management process.

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Spiffing Up your Incentive Plan with Sales SPIFS

A special performance incentive fund, more commonly known by the acronym SPIF, is a short-term sales incentive typically used to drive the sales results that are needed right now. It’s probably no coincidence that the verb to spiff means to dress or spruce up something and give it a little extra pizzazz. In the same way that you can spiff up your appearance, you can spiff up your incentive plan.

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Sales Compensation Plans

Research shows that companies are increasingly relying on sales compensation to reward their teams. Since there’s no denying the tie between compensation and motivation, companies want to be certain their best reps are being paid fairly and accurately so they’ll continue to produce the best results.

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Sales Commission Structure & Reporting

Sales commissions are not a new concept. In fact, in the eighteen hundreds Captain Henry Morgan paid the crew on his pirate ship solely on commissions. If they had a fruitful day on the high seas, the money was good but if the day was rather lackluster there wouldn’t be pay for the crew.

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Productivity and Forecasting Reports

We have all heard it before, “if it matters, measure it,” and with sales it’s no different. Sales is such an important aspect to any business that tracking and analyzing your sales metrics is common practice; however getting your hands on sales reports can be rather difficult.

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The Science Behind Employee Motivation

Employee motivation is both an art and a science. To motivate employees, you have to master both. The trends come and go – flexible hours, time for individual projects, special perks – all of these go towards improving the bottom line.

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Best Practice to Support Sales Ops in Sales Planning

Sales Planning has often been considered something of a dark art, with the exact causes of success and failure of sales plans being as mystifying as alchemy or divinations. In this medieval mindset, great achievements in sales productivity were fortunate breaks, and poor sales planning was chocked up to bum raps and better luck next […]

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Nail the Most Critical Desires with these Employee Incentive Programs

Performance Incentives are like fingerprints – everybody has a different set. This can be a daunting realization for most managers, that employee performance is dependent on such a wide array of performance incentives. But because motivation is a science, we can get closer than ever to pinpointing the perfect employee incentive programs. Why is this? […]

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Tips to Avoiding the Most Common Compensation Management Mistakes

You’ve heard of a post-mortem analysis? Run a pre-mortem analysis before you go live with a new compensation management system. Here are some questions to ask:

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Commission Payments aren’t Just for Sales Reps Anymore

Traditionally, we think of a commission payment as rewarding a sales rep when she closes a deal and brings in new business. Now, the commission payment is making its way into some varied job functions and unexpected industries.

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Three Ways a Sales Commission Calculator Makes your Life Easier

Companies are dealing with an increasingly complex, competitive environment putting increased pressure on finance and sales operations teams to go beyond their traditional roles. They must partner with HR, deal with management reporting cycles, and, think strategically about the direction of the business. With so much on their plate it’s critical that they save time while achieving 100 percent accuracy.

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Business Performance Management Software is the Key to Growing your Company’s Top-line Revenues

History on Business Performance Software Back in the 1970’s Dr. Aubrey Daniels coined the term business performance management. The formal definition of the term, according to Daniels, is “a scientifically based, data oriented management system. It consists of three primary elements-measurement, feedback, and positive reinforcement.” A lot more than hairstyles and popular music has changed […]

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Learning to Inspire Performance is Vital to Accelerating Growth

The question of how to inspire performance has been around since the dawn of the workforce. They may not have used those exact words, but every time an employer has looked out over their employees and wondered how they could drive them to do better and achieve more, they were really asking: what can I do for these workers to inspire performance?

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Five Ways to Optimize your Compensation Plan

Designing a comp plan can be challenging- it’s all about balance and sometimes that perfect balance in sales incentive compensation can be hard to strike. Many companies today even offer compensation plan templates to help you understand best practices for how to set up a comp plan for each different member, and role, within your sales team. In this article, you’ll find five ways to improve your incentive compensation plan today.

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