Compensation Planning and Paymentsoverview
In complex businesses with multiple customer-facing roles, your sales compensation management system must blend a range of quantitative and qualitative incentives.
Commission Payment Software | IconixxOverview
Modeling and ForecastingOverview
Optimize Sales Strategies, Reduce Risk with Robust Plan Modeling. Anticipate how compensation plan changes will impact financial results and motivation of your sales team.
Iconixx Manages Your Company's Workflow from Assignment to Review and ApprovalOverview
Why Automate Your Workflow Process? Salary and compensation processes extend beyond one department. Managing workflow between field representatives, HR, Management, Sales Operations, Finance and Executives is crucial.
Governance and ReportingOverview
Accurately Model, Forecast, and Report. Simply design and review plans before releasing. Create plans in your modeling environment to achieve confidence in the actual outcomes. Apply standard templates, create ad hoc reports, or use a vast array of analytic tools.
Iconixx for Quota ManagementOverview
Iconixx enables companies to simplify quota planning processes with our sales performance management software. Quickly and easily use valuable insights to create accurate and attainable sales quotas that align with your business goals.
Automate, Simplify, and Streamline Incentive & Compensation Plans for Peak PerformanceOverview
Boost performance and build employee loyalty with Iconixx Incentive™. Iconixx Incentive™ makes it easy to efficiently and clearly create and manage even the most complex structures for discretionary pool bonuses, management-by-objective (MBO) rewards, and noncash payouts and promotions
Sales Compensation Software by IconixxOverview
An Easier, Safer Path for Sales Performance ManagementOverview
Sales Performance Management for Your Industry. Yes, Yours.Overview
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3 tips for sales compensation programs that work for everyone
By Carolyn Jenkins,
One sure way to get the most from a salesforce is to create sales compensation programs that work to incentivize sales reps to go that extra mile. Such strategies not only bring in better sales numbers for the company, but also keep the sales team motivated and aware that a bonus awaits them if they do a good job. But businesses are faced with a dilemma when deciding how to go about formulating such a plan and what reward should be offered. While it seems like a daunting task, there are a few simple elements to a good compensation program every firm should consider implementing. Keep the all-stars in mind Businesses depend on the top performers to not only prop up the entire team, but also lead by example. That's a lot to put on one person's plate, but the best members of the sales team usually relish the chance to prove themselves and do good for the company. As such, it's worthwhile to consider paying higher commission percentages for those who go above and beyond the call of duty. Sales compensation software can help accomplish this by setting thresholds on quotas. If someone surpasses $150,000, for example, then the commission rate gets a percentage point bump, providing top performers with the rewards they deserve and continuous incentives for others to better themselves. Teamwide bonuses help everyone Another way to motivate your entire team to achieve all that they can is by creating certain team-based compensations that reward not just one individual, but the whole squad. It helps foster a more inclusive atmosphere and lets employees know that their own personal efforts and work are appreciated. Contest incentives rally the troops In order to keep the sales team energized, one exceptional tactic to improve incentive performance management is offering contests. Having add-on contest incentives that reward reps for sales on new products or reviving lost contacts or leads are both great examples of this. Besides motivating employees to do better, it will also help enhance company culture and keep the sales team on their toes.
About the author
Carolyn Jenkins leads the Customer Success team in exceeding our customer's expectations by continually fostering a customer-centric culture throughout the entire organization and building true customer advocates that speak to the business value achieved through Iconixx solutions.