Riding the Maturity Curve
Sales Compensation Best Practices for
Program Administration

World at Work
September, 2013
Introduction

2

OpenSymmetry Proprietary Information - Confidential
About the Course
 The course is designed to be Interactive
 The concepts covered here are “real” and “application-ready”...
Course Objectives





About SPM Assessment
SPM Industry Thought Leadership
Where is my company at on the SPM maturity...
2013 Sales Performance and Technology
Survey Highlights

5

OpenSymmetry Proprietary Information - Confidential
Course Objectives





About SPM Assessment
SPM Industry Thought Leadership
Where is my company at on the SPM maturity...
2013 Sales Performance and Technology
Survey
 Plan Design
 Plan Administration
 Reporting and Analytics
 Technology Us...
Key Highlights: Plan Design
According to the survey, the responsibility of designing the compensation plans
still lies pri...
Key Highlights: Plan Administration
Which of the following best describes how sales compensation administration
(not desig...
Key Highlights: Plan Administration
The biggest challenges in plan administering continue to be large number of
manual adj...
Key Highlights: Plan Administration
Effectiveness of the sales compensation administration processes is mostly
measured by...
Key Highlights: Technology Investments
What are the key issues affecting your decision?

12

OpenSymmetry Proprietary Info...
About Sales Performance Management

13

OpenSymmetry Proprietary Information - Confidential
Course Objectives





About SPM Assessment
SPM Industry Thought Leadership
Where is my company at on the SPM maturity...
What is SPM? Why is it Important?
Sales Performance Management is a rigorous approach to
optimizing resources to improve s...
SPM Assessment: Triggers

Strategic

Situational

Triggered by Corporate
Vision

Triggered by an Event

SPM Assessment,
Im...
SPM Assessment Coverage
A holistic review of all pillars within SPM: Candidate Selection, Sales Enablement,
Sales Process ...
Exercise 1 – SPM Case Study – Challenges
and Pain Points

18

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Exercise 1: SPM Challenges and Pain Points
 Please list the challenges faced by Company ABC

 What factors do you think ...
For access to the remainder of this presentation, please visit our website
for a direct download of the entire presentatio...
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OpenSymmetry WorldatWork 2013 Conference Workshop - Sales Compensation Best Practices for Program Administration

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OpenSymmetry hosted a 3-hour pre-conference workshop during the 2013 WorldatWork Spotlight on Sales Compensation conference. The presentation was delivered on September 9th, 2013.

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OpenSymmetry WorldatWork 2013 Conference Workshop - Sales Compensation Best Practices for Program Administration

  1. 1. Riding the Maturity Curve Sales Compensation Best Practices for Program Administration World at Work September, 2013
  2. 2. Introduction 2 OpenSymmetry Proprietary Information - Confidential
  3. 3. About the Course  The course is designed to be Interactive  The concepts covered here are “real” and “application-ready”  Offers an opportunity to share cross functional/ cross industry Insights  Offers an opportunity to apply concepts to case studies  Encourages self assessment 3 OpenSymmetry Proprietary Information - Confidential
  4. 4. Course Objectives     About SPM Assessment SPM Industry Thought Leadership Where is my company at on the SPM maturity model? Where does my company need to be on the maturity scale (future state design) based on industry benchmarking/best practices?  What elements of SPM Maturity modeling do I need to consider?  How do I get to my future mode of operations? 4 OpenSymmetry Proprietary Information - Confidential
  5. 5. 2013 Sales Performance and Technology Survey Highlights 5 OpenSymmetry Proprietary Information - Confidential
  6. 6. Course Objectives     About SPM Assessment SPM Industry Thought Leadership Where is my company at on the SPM maturity model? Where does my company need to be on the maturity scale (future state design) based on industry benchmarking/best practices?  What elements of SPM Maturity modeling do I need to consider?  How do I get to my future mode of operations? 6 OpenSymmetry Proprietary Information - Confidential
  7. 7. 2013 Sales Performance and Technology Survey  Plan Design  Plan Administration  Reporting and Analytics  Technology Used and New Investments 7 OpenSymmetry Proprietary Information - Confidential
  8. 8. Key Highlights: Plan Design According to the survey, the responsibility of designing the compensation plans still lies primarily within the Sales Operations Sales Compensation Administration owner : 2013 8 OpenSymmetry Proprietary Information - Confidential
  9. 9. Key Highlights: Plan Administration Which of the following best describes how sales compensation administration (not design) is managed within your organization? 9 OpenSymmetry Proprietary Information - Confidential
  10. 10. Key Highlights: Plan Administration The biggest challenges in plan administering continue to be large number of manual adjustments, a high degree of complexity of the sales compensation program, and data issues 10 OpenSymmetry Proprietary Information - Confidential
  11. 11. Key Highlights: Plan Administration Effectiveness of the sales compensation administration processes is mostly measured by comparison of incentive payouts to budget and by the accuracy rate Modes of evaluating the effectiveness of the sales compensation administration process : 2013 Option Percentage Incentive payouts in relation to budget 77.5% Accuracy rate 50.0% Time to payout each period 42.5% Number of questions from the field 45.0% Response time to field requests 32.5% Audit Scores 40.0% Sales time spent on compensation issues 30.0% Ratio of total administration cost to sales 27.5% Other 12.5% N/A 0.0% 11 OpenSymmetry Proprietary Information - Confidential
  12. 12. Key Highlights: Technology Investments What are the key issues affecting your decision? 12 OpenSymmetry Proprietary Information - Confidential
  13. 13. About Sales Performance Management 13 OpenSymmetry Proprietary Information - Confidential
  14. 14. Course Objectives     About SPM Assessment SPM Industry Thought Leadership Where is my company at on the SPM maturity model? Where does my company need to be on the maturity scale (future state design) based on industry benchmarking/best practices?  What elements of SPM Maturity modeling do I need to consider?  How do I get to my future mode of operations? 14 OpenSymmetry Proprietary Information - Confidential
  15. 15. What is SPM? Why is it Important? Sales Performance Management is a rigorous approach to optimizing resources to improve sales performance and ultimately drive sustained competitive advantage for the company. It leverages:  Advanced Strategies  Streamlined Processes  Optimized Organizational structure  Next-generation technologies, and  Measurable metrics Over 81% of sales reps achieve their annual quota at companies that emphasize SPM, while lagging companies typically see only 25% of their reps achieve these quota goals. Additionally, these best-in-class companies that apply SPM also have 3x higher annual growth in revenue than lagging companies. 15 OpenSymmetry Proprietary Information - Confidential
  16. 16. SPM Assessment: Triggers Strategic Situational Triggered by Corporate Vision Triggered by an Event SPM Assessment, Implementation and Automation 16 OpenSymmetry Proprietary Information - Confidential
  17. 17. SPM Assessment Coverage A holistic review of all pillars within SPM: Candidate Selection, Sales Enablement, Sales Process and Methodology, Sales Compensation Administration & Design, and Territory & Quota helps set the CMO and FMO Sales Performance Management Sales Strategy & Transformation Candidate Assessment, Selection & OnBoarding Sales Coaching & Training Sales Process / Methodology Sales Compensation Administration & Design Territory & Quota Business Intelligence Enabling Technologies Business Process Management (BPM) Organization / People 17 OpenSymmetry Proprietary Information - Confidential
  18. 18. Exercise 1 – SPM Case Study – Challenges and Pain Points 18 OpenSymmetry Proprietary Information - Confidential
  19. 19. Exercise 1: SPM Challenges and Pain Points  Please list the challenges faced by Company ABC  What factors do you think contributed to these challenges?  What benefits did Company ABC realize by implementing an incentive compensation management program?  What are some of your pains points for your company within SPM? Please rank based on degree of business impact? 19 OpenSymmetry Proprietary Information - Confidential
  20. 20. For access to the remainder of this presentation, please visit our website for a direct download of the entire presentation here. SPM Maturity Model OpenSymmetry Proprietary Information - Confidential

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