What a great preview face! :-)
Monday, July 16, 2012
Video! 2012 Sales Performance and Technology Survey Results
What's the current state of technology use in the design and administration of sales incentive compensation programs? Find out as Jim Stoeckmann, CCP, Senior Practice Leader, WorldatWork, and Justin Lane, Director of Strategy Services, OpenSymmetry, share insights in the recent survey results including use of various technologies, biggest pain points, timeliness and accuracy of incentive payouts, and evaluation of the administration process.
What a great preview face! :-)
What a great preview face! :-)
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2 comments:
Well done Justin. Thanks for reminding me, that I should double check my commission payouts as deligiently as I check my grocery receipts, due to data trust issues...
Accuracy in sales commissions is pretty appalling and most companies don't do a very good job at it. Your company should be providing, at bare minimum, a summary compensation statement that matches earnings to paycheck with the ability to drill down into detail. If your company is struggling with accuracy pass these recommendations on to whomever owns the administration process -
1. Assess and optimize your compensation administration process
2. Put in place metrics to track accuracy by % of commissions paid and # of errors
3. Relentlessly drive errors out of the upstream data and other root causes
4. Minimize manual adjustments, data entry and hand offs through automation
Latest survey data shows over half less than 1 in 3 companies report achieving >99% accuracy which still isn't good enough.
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