“Need a sales comp plan that incentivizes prospecting, but does not increase the overall percent for my entire sales compensation. So, we’ll need a plan that pays more for new sales and less (or less over time) for sales to existing customers. Suggestions?” This recent question was asked on LinkedIn in the Compensation & Benefits…
Prospecting or existing customers ? What do you focus on in your sales incentive plan ?
August 7, 2012 by 2 Comments
Equity theory and the design of your incentive scheme
July 15, 2012 by 2 Comments
As part of the 16th annual Compensation & Benefits Forum organised by IIRME last month, I delivered a one-day workshop on how do design a recognition and retention scheme. I mention a few motivation strategies at the outset of the workshop. The equity theory in particular holds my attention. What is equity theory ? The…
Are you constrained to say bonus is discretionary?
June 7, 2012 by 1 Comment
One of my recent posts covered the pros and cons of keeping compensation information confidential. There are positives to each side of the coin, but my view is that we should communicate as much as possible when it comes to Compensation and Benefits rules, entitlements and required contributions. There are too many drawbacks to not…
What is the difference between a bonus and an incentive ?
May 8, 2012 by 11 Comments
A quick post today, on the difference between a bonus and an incentive. We often use these two terms without making a true distinction, but in truth, they are slightly different. Both of them cover elements of compensation that go above and beyond the normal, recurring income of the employee (base pay or basic +…
