What are some key factors that drive a successful incentive compensation strategy?
For companies to implement a successful incentive compensation strategy, they must make their objectives very clear to their sales reps. Companies need to make sure they give their sales teams an incentive that also aligns with the business goals of their organizations.
Transparency is also key. If a rep isn’t confident that there is integrity in the process, they ultimately won’t understand what their compensation is. Sales professionals need to be constantly updated with the right information and data to understand the compensation structure. If not, it can cause problems, as well as hurt retention.
Hear what Canidium’s Vice President of Technology Services Jason Kearns has to say about why it’s so important for companies to implement an incentive compensation strategy that has integrity and a clear purpose.