Designing Global Sales Incentive Plans - Paperback

by Mong Shen Ng (Author)

Your company has hundreds of patchwork sales incentive plans developed by various business units after decades of mergers & acquisitions. Sales incentive plans for B2C sales is not effective to drive performance for B2B sales, and frequently individual sales quotas are not set properly. As the Global Rewards Director, you are assigned by your CEO to reduce the number of sales incentive plans and align it to corporate strategy. Do you know what to do? The key to designing an effective global sales-compensation framework is to identify performance measures and design principles that can apply globally and yet provide some flexibility for business unit or local customization. This book teaches you step-by-step, the 3D6P approach to design effective global sales incentive plans (Diagnose the root cause of poor sales, Determine change management strategy, Determine eligibility, Pay strategy, Performance measures, Plan mechanics, Payout scenario, Plan documentation & communication, Plan effectiveness). The concepts and examples in this book, works for all companies of all sizes, in all industries. The concept is comprehensive and yet flexible. Companies can choose to use all or parts of the steps to design their sales incentive plan.