Benefits of a Good Incentive Compensation Plan

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Benefits of a Good Incentive Compensation Plan
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Benefit 1 Improved Motivation

• Salespeople are motivated to perform beyond
  expectations with appropriate levers.

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Benefit 2 Higher Topline

• The plan should be able to engage and align
  salesforce.
• This will lead to improved topline revenue and
  higher sales growth.

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Benefit 3 Attracting Top Talent

• Variable pay or sales commission helps in
  attracting top talent from sales industry.

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Benefit 4 Teamwork

• There should be team-based sales goals to
  encourage collaboration within a team.
• Salespeople can share best practices with
  colleagues for a healthy work relationship.

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Benefit 5 Reduced Attrition

• When there is recognition and reward for
  performance, employees remain loyal to the
  company, resulting in less attrition.

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• A well-designed incentive compensation plan is
  effective in motivating and engaging salespeople.
• It can align employees with company goals.

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