Additional information
by Andris Zoltners (Author), Prabhakant Sinha (Author), Sally Lorimer (Author)
A well-designed and implemented incentive program is an essential tool for building a motivated, highly effective sales force that delivers the results you need.
Incentive programs are seductively powerful but complicated instruments. Without careful planning and implementation, they can be too stingy to motivate, too complex to understand, too quick to reward mediocre results, and too difficult to implement. The Complete Guide to Sales Force Incentive Compensation is a practical, accessible, detailed roadmap to building a compensation system that gets it right by creating motivating incentives that produce positive outcomes.
Packed with hundreds of real-life examples of what works and what doesn't, this important guide helps you:
- Understand the value of building an incentive plan that is aligned with your company's goals and culture.
- Avoid the common trap of overusing incentives to solve too many sales management problems.
- Measure the effectiveness of your current incentive program, employing easy-to-use tools and metrics for pinpointing its weak spots.
- Design a compensation plan that attracts and retains successful salespeople, including guidelines for determining the correct pay level, the best salary incentive mix, the proper performance measures, and the right performance payout relationship.
- Select an incentive compensation plan that works for your organization -- then test the plan before it is launched.
- Set territory-level goals that are fair and realistic, and avoid overpaying the sales force or demoralizing salespeople by having difficult goals or not fairly assigned.
- Create and manage sales contests, SPIFFs (Special Performance Incentive for Field Force), and recognition programs that consistently deliver the intended results.
- Manage a successful transition to a new compensation plan and build efficient administration systems to support your plan.
Filled with ready-to-use formulas and assessment tools and a wealth of insights from frontline sales managers and executives, The Complete Guide to Sales Force Incentive Compensation is your hands-on, easy-to-read playbook for crucially important decisions.
Author Biography
Andris A. Zoltners is a Professor of Marketing at the Kellogg School of Management at Northwestern University. He is a founder and co-chairman of ZS Associates, a global business consulting firm. For over 30 years, he has served the business community as a professor, consultant, speaker, and author on marketing and sales force performance.
Prabhakant Sinha is a founder and co-chairman of ZS Associates, where he has consulted with more than 200 firms in North America, Europe, and Asia. He also teaches executive education courses on sales force effectiveness at Kellogg, the London Business School, and the Indian School of Business, and leads custom workshops for sales leadership teams.
Sally E. Lorimer is a consultant, specializing in sales and marketing, and business writer. She was previously a principal at ZS Associates, where she consulted with numerous companies on sales force design.
All three are coauthors of Sales Force Design for Strategic Advantage, and Zoltners and Sinha are coauthors (with Greggor A. Zoltners) of The Complete Guide to Accelerating Sales Force Performance.
