Sales incentive plan review process


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Sales incentive plan review process

  1. 1. Acme Automation <br />Incentive plan Review Workshop<br />“Ready-Set-Go” proposal<br />
  2. 2. Contents<br />So, it’s time to review the plan – now what?<br />Key success factors for an effective review process<br />The “Ready-Set-Go” framework<br />The RGS Workshop – scope of work<br />Expected benefits and outcomes for Acme Automation<br />Investment summary<br />Client references<br />2<br />
  3. 3. 1) “It’s time to review the sales incentive plan”<br />3<br />It’s going to be time consuming<br />Lets start with a blank sheet of paper<br />common thought bubbles for planners – non industry specific!<br />Sales performance & incentive reporting is to blame<br />The business keeps changing the plan<br />The plan is not driving the activity I need<br />
  4. 4. 2) Key success factors for an effective review process<br />4<br />
  5. 5. 3) Best practice framework for incentive program development<br />5<br />Facilitates >> engagement + scope clarification +shared language + diagnosis + concise documentation<br />Setting the foundations for best practice<br />Designing sales incentive and recognition programs<br />Sales incentive plan and program implementation <br />
  6. 6. 4) RSG Workshop - Scope of work<br />6<br />Analysis & preparation<br /><ul><li>Review payments v performance at territory * LOB * national
  7. 7. Test / quantify any key issues
  8. 8. Confirm project stakeholders</li></ul>Survey + Interviews<br /><ul><li>On line survey to collate opinions re “READY” foundations
  9. 9. Clarify expectations and scope for workshop
  10. 10. Their views/requirements/issues (per 10 x modules)
  11. 11. Develop custom materials for client
  12. 12. Confirm agenda & attendees</li></ul>Workshop Preparation<br />Workshop<br />Facilitation<br /><ul><li>2 x 6 hour workshops over two days
  13. 13. Confirm sessions for group work v group discussion
  14. 14. One facilitator and a second consultant
  15. 15. Finalise workshop deck
  16. 16. Review and present to project team</li></ul>Document & Present<br />
  17. 17. 4) Suggested focus areas for Acme Automation<br />7<br />Draw out during analysis phase<br />Available metrics<br />Individual * Team<br />Big deals<br />Timing<br />Data sources<br />Program goals<br />SFE context<br />Eligibility<br />Product mix<br />Impact of hurdles<br />Adds, moves, changes<br />Describe<br />Prioritise<br />Review various model options<br />Calculation frequency<br />Audit trail<br />Market data<br />Positioning statement<br />Payment timing re big deals - milestones<br />Program communication<br />Query handling<br />At risk per role<br />Modeling<br />Communication<br />Change management<br />Key success measures<br />Outliers<br />Leverage<br />Cost of incentive<br />
  18. 18. 5) Key benefits targeted for Acme Automation<br />1) Optimise use of stakeholders time – save time & money<br />This is not new ground. Lets build on the learnings and get the job done in less than half the time it would normally take<br />2) Ensure program changes are incremental, practical and beneficial<br />Participants are telling us they want stability and minimal change<br />3) Develop the basis for improved plan documentation for 2012<br />Clear communication of the Purpose – Principles – etc<br />4) Develop a common language for incentive program design<br />Stakeholders will have a reference point for issues that may arise during 2012<br />5) Set clear goals for the program<br />Design a measurement process and identify low hanging fruit to improve program efficacy<br />8<br />
  19. 19. 5) Project documentation<br />2011 data analysis summary<br />Survey and interview notes from pre meetings with program participants <br />Workshop agenda and presentation materials<br />Printed workshop materials – 1 copy per participant<br />Incentive plan “strategy deck” (workshop materials plus all input from the workshop)<br />Final presentation of outcomes and agreed actions (presented to participants post workshop)<br />9<br />
  20. 20. 6) Investment summary<br />10<br />The table below identifies the number of consulting days allocated to each part of the project and who will work on the project from PerformanceCentre (refer bios next page)<br />
  21. 21. 6) Project team<br />Page 11<br />
  22. 22. 7) Client references<br />KSB Pumps<br />Developed a new incentive plan design during 2 x half day workshops<br />Plan implemented successfully with optimal investment of time of branch and state managers<br />No plan re-work in 2011<br />Suncorp Retail Bank<br />2 x day workshop training for HR stakeholders in preparation for FY12 design and review process<br />High survey rating of 8.5 of 10<br />Aristocrat Leisure<br />Developed a new incentive plan design during 3 x half day workshops<br />Plan documentation completed for launch<br />Plan implemented successfully<br />Optus<br />We have run two sets of RSG workshops for Optus in 2009 and 2010<br />Optus commissioned PCI to develop a “Targets” best practice framework end 2010<br />12<br />