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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Optimize talent management in sales through compensation
By Brian Thompson,
A motivated sales force can be a powerful asset. In order to foster such a team, it is essential to pay attention to the details of a happy, focused and engaged sales team.
When salespeople feel they can reach unlimited personal growth through their performance, they are often more likely to have higher levels of engagement and subsequently outperform their industry counterparts who may not have compensation structures that help them reach their potential.
Through innovative sales performance management software, companies can design, plan, and track sales incentives. Automating sales commission processes with software enables companies to eliminate the burden of manual spreadsheets.
However, before enhancing sales teams through creative compensation strategies such as merit increases, commissions and team contests, companies must first identify qualified sales savvy candidates during the recruitment phase.
Here are a few key personality traits to keep in mind when looking for sales candidates:
Curiosity: Successful salespeople are always asking questions, whether to a client or to executives internally, curiosity demonstrates a thirst and hunger for knowledge. A Harvard Business Review study on business salespeople found that 82 percent of top sellers scored extremely high in categories measuring curiosity.
Confidence: According to the same study, less than 10 percent of respondents noted they felt high levels of discouragement, whereas 90 percent also said they feel low to infrequent moods of sadness when compared to their lesser-performing counterparts. This is what gives salespeople the competitive edge to trudge forward even if a deal isn't sealed.
Creative: The reality of sales situations is that many times there are unique and individual challenges, so sales goals require innovation and creativity. The ability to think on one's feet and craft a solution that clinches the deal while still meeting personal and company goals is the sign of top talent, according to Inc.
By ensuring salespeople boast this range of personality traits, compensation structures that are equally well-rounded will be easy to design. For example, organizing sales contests is a way for individuals to express autonomy while being motivated by monetary rewards as well as office recognition, an important aspect of employee engagement, according to Entrepreneur.
Any sales compensation structure can be easily tracked by both the company and the individual through incentive compensation management (ICM) software, leading to more transparency between the company and its salespeople when attempting to reach mutual goals.