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Embrace the Game: 3 Steps to Creating Winning Incentive Plans

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Picture this: You’ve just announced your new company incentive plan, and within minutes, the gaming begins. Despite what you might think, this is actually a good thing for your company: embracing and …

Picture this: You’ve just announced your new company incentive plan, and within minutes, the gaming begins. Despite what you might think, this is actually a good thing for your company: embracing and leveraging motivation-driven sales performance creates a win/win situation for all. In fact, by combining empirical data with natural human behavior, you can build killer incentive plans.

Join us for a compelling look at a three-pronged approach which takes the guesswork out of creating effective incentive plans and elevates your team’s performance.

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  • These discouraging practices summon the wrath of the sales team and weaken the connection between behavior and reward.
  • Transcript

    • 1. Ask, Share, Learn – Within the Largest Community of Corporate Finance Professionals Embrace the Game: 3 Steps to Creating Winning Incentive Plans
    • 2. Learning Objectives After attending this event you will be able to: • Understand the most important five key factors in designing incentive plans that deliver profitable growth • Identify specific opportunities to improve your company’s incentive strategy effectiveness • Understand how to assess your company’s current plan, and fine-tune it for better employee engagement and return
    • 3. Welcome to Proformative Proformative is the leading educational resource for corporate finance professionals. A resource where corporate finance and related professionals advance in their careers through: • Uniquely valuable, online peer network • On demand courses taught by peers and SMEs • Valuable Features and Resources Check it out at www.proformative.com
    • 4. Ask, Share, Learn – Within the Largest Community of Corporate Finance Professionals Embrace the Game: 3 Steps to Creating Winning Incentive Plans Erik W. Charles, Principal Incentives Strategist, Xactly
    • 5. Poorly Communicated Error Prone Ineffective
    • 6. Engaged Not Engaged Actively 13% 63% 24% Disengaged 2013 Gallup: State of the Global Workplace Report (Worldwide)
    • 7. Reps don’t understand their plans Too much time between the effort and the payment Companies do not modify plans to address changes, launches or threats
    • 8. MOTIVATIONAL MYTHS #4 Good motivation theories and practices will work for all employees #5 Sales reps are either naturally motivated or they aren’t #1 Having a job should be motivational enough #2 Money is the greatest motivator #3 Nothing lights fire like fear
    • 9. 250% 200% 150% 100% 50% 0% 0% 50% 100% 150% 200% 250% 300% ATTAINMENT % PAYOUT % SALES GOALS FINANCE GOALS
    • 10. Real Time Attainment Metrics Trust The System BEHAVIORAL CHANGE Pay Closer To Sales Event Motivate Team
    • 11. ARE YOU MAKING THESE COMP MISTAKES? #4 One-Size-Fits-All Incentives #5 Lack of Recognition #6 Capping Commissions #1 Weak Incentives #2 Unattainable Goals #3 Easy Targets
    • 12. Embrace the Game: 3 Steps to Creating Winning Incentive Plans Thank you for your interest in this presentation. View the on-demand webinar or download the full presentation at: www.Proformative.com

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