Motivational Incentives and Pay for the Sales Force

Motivational Incentives and Pay for the Sales Force

Introduction:

This course is introduced to you by the International Academy of Human Resources Development (IAHRD). Our courses are specially designed to meet your needs, explained to you by experts with a long experience in the field.

It is not an easy task to align the compensation and benefits for your sales employees. The main objective of this course is to learn how to align these compensations and benefits in the best suitable way to guarantee the motivation and excitement of the employees in the sales department. This will increase the productivity and make it more sustainable in the working environment.

Objectives:

After attending this course, participants will be able to:

1. Attract, retain, motivate and incentivize your sales staff
2. Improve revenue performance and effectiveness using effective compensation systems.
3. Use effective tool for designing and controlling Sales Incentive Plans (SIPs).
4. Overcome the potential compensation and reward issues that might arise,
5. Keep sales team always engaged and motivated.

Content:

Module 1:

1. Get to know your employees.
2. Who to hire?
3. Understanding what exactly motivates your people.

Module 2:

1. Using creative incentives.
2. Employee communication preferences.
3. Understanding types of incentives.

Module 3:

1. Pay for sales employees.
2. Physical prize incentives.
3. Development related incentives.

Module 4:

1. Ingredients for managing pay and designing compensation.
2. Pay strategy and pay philosophy.
3. Benchmarking on “total cash package” and on each component –

salary, bonus, allowances, etc.

Module 5:

1. Over-paid Employee vs. Underpaid Employee.
2. Matching individuals to roles.
3. Sales Incentive Schemes (SIPs), short-term incentive plans (STIPs),

and bonuses.

Module 6:

1. How to set suitable performance targets?
2. Setting bonus and incentive payment level.
3. Setting SIPs as a “percentage commission” scheme.

Who Should Attend?

1. Sales Directors.
2. Sales Managers.
3. Professionalsin the commercial or sales functions.
4. HR Generalists.
5. Compensation and Benefits (C&B) Specialists.
6. Interested candidates.