For better or worse, accrual processing is a lot like the movie Groundhog Day. In the film, Bill Murray plays the part of Phil, a weatherman who is stuck living the same day over and over. At first, he dreaded the day and felt stuck...
The VP of Sales never got paid her commissions. This was a six-figure mistake and no one noticed for a full calendar year - including the VP of Sales herself. It's a strange story (how much does this person make to not notice such a...
Investing in a sales performance management (SPM) solution is not something a business does casually. Depending on what definition of SPM that's in use, this decision involves an assortment of applications: compensation management, on-boarding and coaching, analytics, sales enablement, or any mixture of these (and...
When you offer people variable pay – like commissions – you’re engaging in a trust exercise. Since the amount a person is getting is not fixed within each pay period, the numbers in the “amount” box on their checks can vary dramatically. Sometimes, it’ll vary...
“Moving the needle” in terms of overall sales force performance is no mean feat. Sales Enablement – yes, big S, big E – is becoming an increasingly important function of many sales organizations, charged with increasing productivity, typically through the effective application of investments in...
Much like the elusive yeti, the identification of Return On Investment (ROI) for a sales incentive plan is believed to exist by enthusiasts from the sales compensation design team, but met with much skepticism by others, namely the Finance department. So how do you prove...
Will the new U.S. Department of Labor fiduciary ruling disrupt the retirement investment planning marketplace? Firms such as Merrill Lynch are already starting to make changes to their processes by adopting fee-based IRA accounts, and further changes to the industry are anticipated. While it seems perfectly...
Wells Fargo has recently been making considerable waves in national news over the creation of 2 million fake accounts attributed to Wells Fargo customers. According to NPR, consequences stemming from the bank’s actions have included the payment of $185 million in penalties as well as...
How the right mix of personality, behavior, and compensation drives success It’s hard to believe that the 2016 Rio Olympic Games are coming to an end. So far, we’ve seen spectacular gymnasts, thrilling rugby players, and even some weirdly green swimming pools. With this one in...
Sales in the pharmaceutical industry has been a rigid and consistent business. Tactics may have changed, but for the most part these sales teams still run on a commission or quota based metric determined by well-planned territories. In some cases, incentive compensation (IC) methods have...