Variable Compensation_ The Key to Motivating Sales Reps and Growing Your Business

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Variable Compensation The Key to Motivating
Sales Reps and Growing Your Business
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Company changes its strategies to fulfil
expectations of the customers and as a result
there is a change in the sales process.
Incentives and variable compensation for sales
people are becoming more and more common.
Customer demands and markets are ever changing
and business have to keep up.
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What is Variable Compensation?

• Variable compensation is an incentive paid over
  the base salary of an employee
• Given for motivating, rewarding, and retaining
  employees.
• Depending on the employee's performance.
• It includes commission, profit sharing, bonus,
  stocks.

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Benefits of Variable Compensation

• Aligning the organization for working towards a
  common goal.
• Sales team work towards add more revenue for the
  company.
• Motivation of sales teams.
• Improvement in customer satisfaction as
  salespeople will serve them well.
• Helping in attracting new talent.
• Creates a performance culture.

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Implementing a Variable Compensation System

• Decide the metrics for getting variable
  compensation.
• Variable pay plan should be transparent.
• Create an employee performance review process for
  tracking an employees progress.
• Take employee feedback seriously.

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Variable Compensation Calculation

• Variable compensation will depend on the size of
  company, compensation type given to the
  employees.
• Variable pay changes according to the employee
  job stage.

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Incentivate Helps in Variable Compensation
Management

• Incentivate provides interactive and visual
  reports for understanding the different business
  process outcomes.
• Incentivate supports every organisational role in
  an organization.

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Sales Reps and Growing Your Business