Compensating The Sales Force A Practical Guide To Designing Winning Sales Compensation Plans

Author : David J. Cichelli
Publisher : McGraw Hill Professional
Page : 352 pages
File Size : 48,7 Mb
Release : 2017-11-24
Category : Business & Economics
ISBN : 9781260026825

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Compensating the Sales Force, Third Edition: A Practical Guide to Designing Winning Sales Reward Programs by David J. Cichelli Pdf

Leverage the full power of your sales force with a cutting-edge compensation program Salespeople are motivated by many things—and how they’re paid tops the list. Sales compensation is one of the best tools for motivating any sales force and thus maximizing business revenue. Do you have strategically aligned sales compensation plans or are your pay plans holding back your sales force? Compensating the Sales Force has helped thousands of business leaders worldwide create sales compensation programs that drive sales performance, increase revenue, and trigger business growth. Now, this new edition brings you fully up to date with new approaches for a business landscape where product/solution objectives and customer needs are in constant in flux. Sales guru David Cichelli provides everything you need to build an incentive plan that delivers real financial results. He takes you step-by-step through the process of setting target pay, selecting the right performance measures, and establishing quotas. You’ll learn everything there is to know about: •Why job content drives sales compensation design •Methods for calculating formulas for payout purposes •The roles of quota allocation, sales crediting, and account assignment •Compensating a complex sales organization and global sales teams •Administering, monitoring, and measuring the effectiveness of the program An indispensable resource for anyone involved in sales compensation—from CEOs and sales managers to HR personnel to IT professionals—Compensating the Sales Force provides all the tools you need to design and implement a sales compensation plan that increases profits―and drives the sales team to exceed sales targets.

Author : David J. Cichelli
Publisher : McGraw Hill Professional
Page : 300 pages
File Size : 52,9 Mb
Release : 2010-07-16
Category : Business & Economics
ISBN : 9780071742344

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Compensating the Sales Force: A Practical Guide to Designing Winning Sales Reward Programs, Second Edition by David J. Cichelli Pdf

The classic guide to raising your bottom line with the perfect compensation strategy—fully revised and updated! Sales compensation WORKS! Nothing motivates a sales force better than a powerful compensation program. And when your salespeople are motivated, revenue soars. But how do you design a program ideally suited for your business strategy and organizational needs? It’s a delicate balance that makes all the difference between profit and loss. More and more sales leaders have turned to Compensating the Sales Force to help them discover problems in their present system and create a compensation program that works best for their needs. Now, in the second edition of this authoritative, jargon-free handbook, sales compensation guru David J. Cichelli brings you completely up to date on setting target pay, selecting the right performance measures, and establishing quotas. He supplies clear guidelines for building the right compensation plan for any type of firm, of any size, in any industry, and he offers step-by-step procedures for implementing each approach. In Compensating the Sales Force, second edition, Cichelli has substantially expanded the book’s popular formula section, and he provides brandnew examples of: Income producer plans Sales rep commission plans Bonus plans Incentive plans Base Salary management plans The book also includes all-new chapters for global, complex sales organizations and hard-to-compensate sales jobs. Using the lessons in Compensating the Sales Force, you’ll construct and calculate accurate formulas for payout purposes and establish highly efficient support programs, such as sales crediting and account assignment. Complete with dozens of real-world examples that illustrate important points and demonstrate specific techniques and procedures, Compensating the Sales Force provides all the tools you need to design and implement a sales compensation plan that maximizes profits—and keeps them climbing. With brand-new chapters on GLOBAL SALES TEAMS amd COMPLEX SALES ORGANIZATIONS! Praise for the first edition of Compensating the Sales Force: “If your company is refocusing its efforts on sales revenue enhancement, you must read this book. If you want motivated salespeople and superior sales results, act on its content.” Noel Capon, R. C. Kopf Professor of International Marketing, Chair of Marketing Division, Graduate School of Business, Columbia University “This book provides great guidance for any business leader who wants to capitalize on sales compensation as a tool for driving business results.” Rick Justice, Executive Vice President, Worldwide Operations and Business Development, Cisco Systems “Dave Cichelli is the premiere sales compensation educator today. You will immediately find this work informative, helpful, [and] thought-provoking.” Mark Englizian, former Director of Global Compensation, Microsoft Corporation

Author : David J. Cichelli
Publisher : McGraw Hill Professional
Page : 235 pages
File Size : 49,5 Mb
Release : 2003-09-22
Category : Business & Economics
ISBN : 9780071435970

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Compensating the Sales Force: A Practical Guide to Designing Winning Sales Compensation Plans by David J. Cichelli Pdf

Compensating the Sales Force is a uniquely jargon-free, how-to guide to all major sales compensation concepts and formulas. Using real-world examples, guru David J. Cichelli: Helps readers select the right compensation strategy for their firm Provides step-by-step guidance to implementing various approaches Simplifies the mathematical formulas that are a thorn in most manager's side

Author : Andris Zoltners,Prabhakant Sinha,Sally Lorimer
Publisher : AMACOM
Page : 511 pages
File Size : 54,8 Mb
Release : 2006-08-07
Category : Business & Economics
ISBN : 9780814429723

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The Complete Guide to Sales Force Incentive Compensation by Andris Zoltners,Prabhakant Sinha,Sally Lorimer Pdf

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 : Cichelli
Publisher : Unknown
Page : 128 pages
File Size : 41,7 Mb
Release : 2024-07-02
Category : Electronic
ISBN : 0070586756

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Compensating The Sales Force by Cichelli Pdf

Author : John H. Davis
Publisher : John Wiley & Sons
Page : 414 pages
File Size : 54,9 Mb
Release : 2011-08-24
Category : Mathematics
ISBN : 9781118002063

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Statistics for Compensation by John H. Davis Pdf

An insightful, hands-on focus on the statistical methods used by compensation and human resources professionals in their everyday work Across various industries, compensation professionals work to organize and analyze aspects of employment that deal with elements of pay, such as deciding base salary, bonus, and commission provided by an employer to its employees for work performed. Acknowledging the numerous quantitative analyses of data that are a part of this everyday work, Statistics for Compensation provides a comprehensive guide to the key statistical tools and techniques needed to perform those analyses and to help organizations make fully informed compensation decisions. This self-contained book is the first of its kind to explore the use of various quantitative methods—from basic notions about percents to multiple linear regression—that are used in the management, design, and implementation of powerful compensation strategies. Drawing upon his extensive experience as a consultant, practitioner, and teacher of both statistics and compensation, the author focuses on the usefulness of the techniques and their immediate application to everyday compensation work, thoroughly explaining major areas such as: Frequency distributions and histograms Measures of location and variability Model building Linear models Exponential curve models Maturity curve models Power models Market models and salary survey analysis Linear and exponential integrated market models Job pricing market models Throughout the book, rigorous definitions and step-by-step procedures clearly explain and demonstrate how to apply the presented statistical techniques. Each chapter concludes with a set of exercises, and various case studies showcase the topic's real-world relevance. The book also features an extensive glossary of key statistical terms and an appendix with technical details. Data for the examples and practice problems are available in the book and on a related FTP site. Statistics for Compensation is an excellent reference for compensation professionals, human resources professionals, and other practitioners responsible for any aspect of base pay, incentive pay, sales compensation, and executive compensation in their organizations. It can also serve as a supplement for compensation courses at the upper-undergraduate and graduate levels.

Author : Doug J. Chung,Byungyeon Kim,Niladri B. Syam
Publisher : Unknown
Page : 64 pages
File Size : 50,6 Mb
Release : 2020-06-04
Category : Business & Economics
ISBN : 1680836846

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A Practical Approach to Sales Compensation by Doug J. Chung,Byungyeon Kim,Niladri B. Syam Pdf

A Practical Approach to Sales Compensation takes readers through the evolution of academic research on sales compensation. By examining the relevance of existing research, it provides practical guidance on the design of an effective compensation system. Furthermore, the monograph discusses how recent technological advances in artificial intelligence (AI) and machine learning (ML) shape sales strategy transformation and, thus, sales compensation systems of the future. After an introduction, Section 2 illustrates a practical outline for designing a sales compensation system and the associated dilemma that organizations often face. Section 3 examines the theoretical foundations of effective sales compensation structures and their validity--in particular, application of the principal-agent theory, which derives optimal compensation systems under the presence of agents' moral hazard. Section 4 addresses recent developments in field research: randomized field experiments jointly conducted by academics and organizations as well as structural econometric methods using micro-level performance and compensation data. Section 5 illustrates how advances in technology affect organizations' sales strategies and, thus, the challenges and opportunities in utilizing compensation structure to motivate salespeople.

Author : Mark Donnolo
Publisher : AMACOM/American Management Association
Page : 290 pages
File Size : 55,5 Mb
Release : 2013
Category : Business & Economics
ISBN : 9780814432273

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What Your CEO Needs to Know about Sales Compensation by Mark Donnolo Pdf

Featuring insightful interviews with Fortune 1000 C-level executives and real lessons from the field, this essential book reveals the tough questions leaders should be asking about how sales incentives drive the business.

Author : Bashker D. Biswas
Publisher : FT Press
Page : 458 pages
File Size : 43,9 Mb
Release : 2012-12-07
Category : Business & Economics
ISBN : 9780133064858

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Compensation and Benefit Design by Bashker D. Biswas Pdf

In Compensation and Benefit Design, Bashker D. Biswas shows exactly how to bring financial rigor to crucial "people" decisions associated with compensation and benefit program development. This comprehensive book begins by introducing a valuable Human Resource Life Cycle Model for considering compensation and benefit programs. Biswas thoroughly addresses the acquisition component of compensation, as well as issues related to general compensation, equity compensation, and pension accounting. He assesses the full financial impact of executive compensation programs and employee benefit plans, and discusses the unique issues associated with international HR systems and programs. This book contains a full chapter on HR key indicator reporting, and concludes with detailed coverage of trends in human resource accounting, and the deepening linkages between financial and HR planning. Replete with both full and "mini" case examples throughout, this book will be valuable to a wide spectrum of HR and financial professionals, with titles including compensation and benefits analysts, managers, directors, and consultants; HR specialists, accounting specialists, financial analysts, total rewards directors, controller, finance director, benefits actuaries, executive compensation consultants, corporate regulators, and labor attorneys. It also contains chapter-ending exercises and problems for use by students in HR and finance programs.

Author : Andris A. Zoltners,Prabhakant Sinha,Greggor A. Zoltners
Publisher : AMACOM/American Management Association
Page : 496 pages
File Size : 53,6 Mb
Release : 2001-06
Category : Business & Economics
ISBN : 0814434592

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The Complete Guide to Accelerating Sales Force Performance by Andris A. Zoltners,Prabhakant Sinha,Greggor A. Zoltners Pdf

"Every firm’s sales force combines the distinctive personalities of its members with the complex issues of size, pay structure, incentives, performance evaluation, and effective uses of new technology. And while underrepresented in most marketing texts, the success of the sales force is a major component in the overall success of most companies. The Complete Guide to Accelerating Sales Force Performance develops an effective, innovative framework for evaluating and improving the performance of any sales force. This book identifies and describes the key factors for creating a fast-track, go-to-market strategy. It’s loaded with proven ideas for improving such ""success drivers"" as: culture * sales force structure * hiring * sales manager selection * training * compensation * technology * sales territory design * goal setting * performance management. Packed with valuable insights and real-life examples, this guide is an excellent source of practical ideas for sales and marketing managers in all industries."

Author : Robert J. Calvin
Publisher : McGraw Hill Professional
Page : 270 pages
File Size : 45,5 Mb
Release : 2004-03-22
Category : Business & Economics
ISBN : 0071442294

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Sales Management by Robert J. Calvin Pdf

THE MCGRAW-HILL EXECUTIVE MBA SERIES "Executive education is suddenly every CEO's favorite strategic weapon." --BusinessWeek Now repackaged in easily transportable paperback editions, these informative titles--written by frontline executive education professors and modeled after the programs of the nation's top business schools--will find new popularity with today's on-the-go, every-second-counts executive.

Author : David J. Cichelli
Publisher : McGraw Hill Professional
Page : 316 pages
File Size : 46,9 Mb
Release : 2010-11-12
Category : Business & Economics
ISBN : 9780071742351

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The Sales Growth Imperative: How World Class Sales Organizations Successfully Manage the Four Stages of Growth by David J. Cichelli Pdf

Can you handle SUCCESS? With business growth come great things—larger market share, increased revenue, happy shareholders. However, sustaining revenue growth is seldom easy. Sales departments must quickly and seamlessly change sales strategies and tactics to grow sales. Unfortunately, sales departments are often ill-equipped to make the right changes at the right time. At long last, a solution to this common problem is at hand. It’s called the Sales Growth ModelTM. Created by David Cichelli and his team at the Alexander Group, a leading sales effectiveness consulting company, the Sales Growth Model explains how to keep sales results improving during all phases of market maturity. In The Sales Growth Imperative, Cichelli uses his game-changing approach to help you anticipate impending challenges and take the right action, enabling the growth to continue— and the sales department to flourish. He shows you the four stages of business growth and illustrates the challenges of each one: STAGE 1: START–UP Growth at an accelerating rate Challenges: adding additional selling capacity STAGE 2: VOLUME GROWTH Growth at a declining rate Challenges: finding new customers, keeping current ones, and launching new products STAGE 3: RE-EVALUATION Little to no growth Challenges: price management and cost reduction STAGE 4: OPTIMIZATION Profitable revenue growth Challenges: new value proposition, reaching new markets, and specialization As growth rates change, new sales solutions are necessary. You need to anticipate and execute your own successful sales strategy accordingly. Don’t let growth become an obstacle to success. the culmination of 30 years of experience consulting for such companies as FedEx, Verizon, American Express, HSBC, and Starbucks, the Sales Growth Model is the only way to ensure smooth sailing through the surprisingly troubled waters of success. “David’s expertise regarding compensation and sales effectiveness is clearly articulated in The Sales Growth Imperative. This book outlines effective tools that can be used at each stage of your business growth.” —Bruce Dahlgren, Senior Vice President, Managed Enterprise Solutions, HP Imaging and Printing Group “Interested in growing your sales? David Cichelli has crafted a comprehensive guide marketing professionals can use to understand and work effectively with their sales teams. . . . If you are in marketing and need to work with your sales force, get this book!” —John L. Graham, Professor of Marketing, The Paul Merage School of Business, University of California, Irvine

Author : Rosann L. Spiro,Gregory A. Rich,William J. Stanton
Publisher : Unknown
Page : 584 pages
File Size : 41,6 Mb
Release : 2008
Category : Business & Economics
ISBN : 0071259449

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Management of a Sales Force by Rosann L. Spiro,Gregory A. Rich,William J. Stanton Pdf

Updated to reflect the latest, cutting-edge issues, including technology and Internet selling, this book features a strong emphasis on relationship selling and particularly the use of team-selling. Most chapters have a 'team-box' highlighting the principles within a given chapter as they relate to managing selling teams.

Author : Brian Tracy
Publisher : Thomas Nelson Inc
Page : 240 pages
File Size : 43,5 Mb
Release : 2006-06-20
Category : Selling
ISBN : 9780785288060

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The Psychology of Selling by Brian Tracy Pdf

Double and triple your sales--in any market. The purpose of this book is to give you a series of ideas, methods, strategies, and techniques that you can use immediately to make more sales, faster and easier than ever before. It's a promise of prosperity that sales guru Brian Tracy has seen fulfilled again and again. More sales people have become millionaires as a result of listening to and applying his ideas than from any other sales training process ever developed.

Author : Mike Weinberg
Publisher : AMACOM
Page : 241 pages
File Size : 51,8 Mb
Release : 2012-09-04
Category : Business & Economics
ISBN : 9780814431788

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New Sales. Simplified. by Mike Weinberg Pdf

No matter how much repeat business you get from loyal customers, the lifeblood of your business is a constant flow of new accounts. Packed with tested strategies and anecdotes, New Sales. Simplified. offers a proven formula for prospecting, developing, and closing deals. With refreshing honesty and some much-needed humor, sales expert Mike Weinberg examines the critical mistakes made by most salespeople and executives, then provides tips to help you achieve the opposite results. In New Sales. Simplified., you will learn how to: Identify a strategic list of genuine prospects Draft a compelling, customer focused “sales story” Perfect the proactive telephone call to get face to face with more prospects Use email, voicemail, and social media to your advantage Prepare for and structure a winning sales call Make time in your calendar for business development activities New Sales. Simplified. is about overcoming and even preventing buyers’ anti salesperson reflex by establishing trust. This book will help you choose the right targets and build a winning plan to pursue them. Named by Hubpot as a Top 20 Sales Book of All Time, this easy-to-follow guide will remove the mystery surrounding prospecting and have you ramping up for new business.