Eureka Forbes Grandma Story - A Sales Incentive System
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Eureka Forbes - Grandma Story is an effort to explain the sales incentive system with the help of a Visual Presentation made in power point. One may involve the participants with the calculator and the names of the participants can be embedded in few slides to involve them in the presentations.
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Eureka Forbes Grandma Story - A Sales Incentive System
- 1. Grandma Story Incentive System Created By: Shekhar Trive
- 5. So need more salesperson = 10000 = Graduate + Needy ..having following profile
- 6. ..should be given straight Rs 10000? Then use combination salary Fixed Straight
- 7. 4000 60009000 1000 x √
- 8. = Rs 80,000 Rs 6000 they earn from7.5% of the Target Don’t get 4000 if salesare less than 32000 = Rs 10000 = Rs 5000 4000 6000
- 9. = 80000 = 90000 = 70000 = 65000 = 90000 = 70000 = 100000 = 60000 = 60000
- 10. Goddam salespersons are not achieving targets Now how to redesign the incentive system
- 11. Multiple Targets to be achieved
- 12. 0 - 20000 20000 - 40000 40001 - 60000 60001 - 70000 70001 - 80000 80001 - 100000 2% 4% 5% 8% 7% 7%
- 13. I sold 10 I sold 9
- 15. With this system in place how salesman will manoeuvre their sales mix ???
- 16. = 80000 = 90000 = 70000 = 65000 = 90000 = 70000 = 100000 = 60000 = 60000 = 6000 = 6750 = 5250 = 4875 = 6750 = 5250 = 7500 = 4500 = 4500 Old Inc. = 7300 = 6200 = 3600 = 4600 = 7700 = 5300 = 7000 = 3100 = 3000 New Inc.
- 17. Let’s see how the new incentive system would change their thinking
- 18. Ashish Rahul Yeah incentive system is write, but I should have saved one Vacuum Cleaner for the next month Oh, I should have sold one more Vacuum Cleaner, but still it’s ok
- 19. Jai Kuhoo Oho ho ho, I should have sold one more Vacuum Cleaner and would have earned 1500 more Hmm..I would sell one more Water Purifier, it shall be just 200 less than if I sell Vacuum Cleaner
- 20. Ashish Kritika Pratiksha Hunn...just that instead of 1 Vacuum Cleaner I should have sold 2 Water Purifier Ha ha ha..I have made it while others are selling Vacuum Cleaner I should add some CLAUSE to handle Pratiksha type of cases Ideally either I should have sold one VC more or sold 1VC less and would have saved 1 VC sale for the next month
- 21. CLAUSE: Tobeeligible forincentives onWater Purifierthe salesmanhastoatleastsell 2 VacuumCleaner LessHumanistic Tobeeligible forincentives on3 andabove Purifierthe salesmanhastoatleastsell 2 VacuumCleaner Bit Humanistic
- 22. Suraj Yash Yaar, ek Vacuum Cleaner sell kar liya hota to 1500 aur earn kar leta Now contentment shall not work. I have to have a plan
- 23. CLAUSE:Tobeeligible forincentiveson 3 andabovePurifierthe salesmanhasto atleastsell 2 VacuumCleaner Sothe finalIncentive Systemwould looksomething like this...
- 24. Epilogue
- 25. 90 10 80 20 60 40 100 Fixed-Variable Component in different Industries
- 26. Fixed-VariableComponent (with quantum of salary) in different Industries
- 27. 90 10 80 20 60 40 100 Different Fixed-Variable Component in different FMCG Companies based on quantum of Advertising