Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Sales incentive plan review process

5,606 views

Published on

  • Be the first to comment

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 />

×