Designing the optimal sales compensation plan within your Incentive Compensation strategy can be tricky, but well worth the effort in terms of driving profitable revenue growth and retaining your key sales leaders and professionals. Over the years, LTC Performance Strategies has helped countless organizations develop “win-win” sales compensation plans as a key part of their Incentive Compensation strategy. LTC develops sales compensation plans that motivate sales teams and individuals to execute their roles in a manner that benefits the company and themselves accordingly. Our Sales Compensation services within your Incentive Compensation Plan include:

  • Assessment of Existing Program/Practices
  • Development of Compensation Positioning Philosophy
  • Clarification of Participant Roles, e.g. Prospecting, Selling, Servicing Customers
  • Development of Customized Survey Pay Benchmarks
  • Evaluation of Pertinent Variables, and Alternative Plan Designs
  • Determination of "Mix" of Fixed & Variable Pay Components
  • Development of Approved Plan Design
  • Establishment of Performance Metrics
  • Modeling of Plan Payouts Under Varying Performance Scenarios
  • Incorporation of Appropriate Plan Provisions
  • Development of Customized Training/Communications

 

Challenge: The CEO became skeptical about the new Sales Compensation Plan that was about to be “rolled out” at the company’s annual Sales Meeting.

Solution: The CEO invited LTC to critique the Plan, which uncovered a number of deficiencies. LTC partnered with the Sales VP to redesign and communicate the newly designed Plan.

Results:  The Plan was very well received by the better performers and achieved the desired results

 

"A well-designed sales compensation plan will provide explicit direction and sufficient rewards to motivate the type of selling effort needed to reach or exceed business objectives."
– "World at Work"

 

 

 

"Over the years, I have worked with a number of compensation consultants. LTC is simply the best!"
Don Matso
Founder
The Valere Group, Inc.