It's no secret that employees are leaving their jobs for greener pastures. Many are frustrated with their compensation and indicate this as a major driver of attrition. Learn how pay transparency around quota-bearing roles can help you retain and motivate your reps in this webinar!
6. Today’s Agenda
It all starts with a great sales plan
How to communicate plans to reps
How new Pay Transparency Laws
may affect your company
6
7. Everyone wants this
sales rep…
…transparency
around comp
is critical to
hiring and
retaining these
reps
7
Smashes quota
Self-starter
Consistently forecasts and delivers
Team player
Winner
8. Pay transparency
starts with a great
sales incentive plan
Aligned with businesses objectives
Simple & easy to understand
Achievable targets + meaningful upside
8
No more than 3 components
Aligned with the rep’s job
10. Use these 3 buckets when
communicating your incentive plans
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● Performance Measures:
What am I paid on?
● Quotas & Targets: what level
of performance is expected
of me?
● Territories: what customers
can I pursue?
● Rates & accelerators: How
much will I earn?
Ensure you motivate
performance
● Crediting & Eligibility
criteria: what deals will
I get paid on?
● Payout rules: how will
what I’m paid differ
from what I’ve earned?
● Clawbacks: what
scenarios could this
occur?
Avoid future confusion
& frustration
● Quota changes: what may
trigger a change?
● Mid-year plan changes:
should I expect anything to
change?
Be clear about when and
why changes may occur
11. Provide a simple incentive plan
calculator for your sales team
11
12. 12
Should you?
…share average historical attainment
of the team?
Lightning Round:
The tricky areas
around pay
transparency for
salespeople
…use current reps on the team as
examples to others?
…communicate to all roles at the
same time?
…be open to feedback from the team?
…emphasize non-cash comp?
(e.g. equity, perks, club, awards, SPIFs)
13. Pay transparency
laws are here!
Most do not require
disclosure of non-salary
compensation
Most laws are vague on
commissions and other benefit
disclosures
Make sure you’re clear on what you’re
including in the job description
Have a bias toward over-transparency
CA, NY, NYC, WA, IL, CO have all
implemented pay transparency laws this
year
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Add sub bullet under simplicity is key - no more than 3 components
Discussion slide - ask Dennis what has he seen go wrong w/ comp plans
3rd point turn into - aligned w/ businesses objectives
Need a new image
New title - needs to be action oriented
What are questions Dennis has asked in the interview process?
Example of excel doc
Communicate full value of sales plan
Show success and exceptional success look like on this plan
Screenshot of excel model
Kill slide with copy - and redo. Screen shot of plan - Lisa to send me screen shots
Example of excel doc
Communicate full value of sales plan
Show success and exceptional success look like on this plan
Screenshot of excel model
Kill slide with copy - and redo. Screen shot of plan - Lisa to send me screen shots
Lightning round at the end - ask Dennis .
Grayson to review the slides
Animate each question - so they pop up individually
Animate the headlines
Change title to be more impactful
Have 3 bullet points - slim down the copy
Put placeholders in for bullet points
** want people to listen to what they are saying vs reading the slide
Create seed questions for the end
Animate the headlines
Change title to be more impactful
Have 3 bullet points - slim down the copy
Put placeholders in for bullet points
** want people to listen to what they are saying vs reading the slide
Create seed questions for the end