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Live Webinar

90-minute live streaming program
  • May 2
  • 1:00 - 2:30 pm EST

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Audio & Reference Manual

Sales Compensation Plan Design

May 2

Make sure your sales compensation plan is rewarding the right behaviors. Learn the right approach to take when designing your compensation plan.

An effective sales compensation plan can have an enormous impact on company success. A market competitive and motivational incentive plan that is focused on the right business results will spur your sales team to overcome obstacles and close the sales you need them to. But a poorly designed plan invites disengagement, turnover, and legal risk. And one size does not fit all: what works for one company can be disastrous for another. This topic takes you through the process of designing a sales compensation plan that is right for your company: one that drives your financial and strategic objectives, aligns with the responsibilities of each sales role, and considers key sales dynamics like one-time vs. recurring revenue, sales cycle length, and the volume and frequency of sales. Fortunately, there is established methodology to guide the decisions and this material will take you through it.

Learning Objectives

- You will be able to explain how sales compensation differs from other forms of compensation.

- You will be able to describe the process for designing a sales compensation plan.

- You will be able to define key elements of sales compensation design methodology and terminology.

- You will be able to discuss the pros and cons of alternative sales compensation approaches to various situations.

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Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Introduction to Sales Compensation
  • What Is Sales Compensation?
  • How Sales Compensation Is Different From Other Forms of Compensation
  • Objectives of Sales Compensation
Designing a Sales Compensation Plan
  • Setting Total Target Cash Compensation (TTC)
  • Determining the Appropriate Salary Incentive Mix and Upside
  • Selecting Performance Measures
  • Determining Incentive Form: Commission or Quota-Bonus?
  • Calibrating the Incentive Plan
    • Payout Curves
    • Commission Rates
    • Modifiers
  • Setting Sales Crediting Rules
  • Timing of Measurement and Payment
Documenting and Communicating the Plan
  • The Plan Document
  • Communication Strategy and Tactics
  • Reporting
  • Plan Governance
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More Program Information

Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

No credit available.

Live Webinar Registration

  • CPP/FPC (Pending)
     
  • This seminar has been submitted to APA for RCH approval. PLEASE NOTE: To receive credit through the American Payroll Association if approved, you MUST use the streaming option and enable (and complete) the required progress checks.
     
  • HR Certification Institute 1.5
     
  • This program has been approved for 1.5 recertification credit hours toward general recertification through the HR Certification Institute. For more information about certification or recertification, please visit the HR Certification Institute website at www.hrci.org.
     
  • SHRM 1.5
     
  • Lorman Education Services is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CPSM or SHRM-SCPSM. This program is valid for 1.5 PDC(s) for the SHRM-CP or SHRM-SCP. For more information about certification or recertification, please visit www.shrmcertification.org.
     
  • CPE 1.8 including Personnel/HR 1.8
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: www. learningmarket.org. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 1.8 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Personnel/HR for 1.8 hours. Prerequisite: basic knowledge of processing payroll. Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board. Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
     
  • Lorman Business Center, Inc. is a registered provider for CPA CPE through the State Education Department of New York, Sponsor number: 000640. The following course will carry the subject area of Advisory Services for 1.5 hours.
     
  • Lorman Business Center, Inc. has registered with the Texas State Board of Public Accountancy as a CPE Sponsor. This registration does not constitute an endorsement by the Board as to the quality of our CPE Program. This program qualifies for 1.5 hours of continuing professional education.
     

Audio & Reference Manual

No credit available.

Who should attend?

This live webinar is designed for payroll and compensation administrators, human resource managers, benefit professionals, business owners and managers, CFOs and controllers.

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More Program Information

Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Elliot Scott

Elliot Scott

Canidum LLC

  • Director of Compensation Design at Canidium LLC, a consulting firm focused on designing and implementing sales performance management systems
  • More than 20 years of sales compensation design consulting experience, across industries and across continents
  • Prior to joining Canidium, he has held senior sales effectiveness and compensation positions at Towers Watson, The Alexander Group, and ZS Associates
  • Has written articles for Workspan, Synygy magazine, and other publications, and conducted training seminars in the U.S. and overseas
  • M.B.A. degree, with honors, University of Chicago; B.A. degree, Dartmouth College
  • Can be contacted at 914 582 9093 or [email protected]
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More Program Information

Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 398999
Published 2014, 2017
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