Incentive Compensation (IC) today continues to be a critical function in sales operations, and is one of the key levers for driving field force effectiveness. Expectations from sales compensation team leaders have now become more demanding. Priorities are changing at a rapid pace, with new customer types, new selling models, advent of new technologies and new data sources. They need to contemplate, data restrictions, cost pressures, and emerging global captive CoEs (Centers of Excellence). Sales compensation team leaders today need to be aware of best practices in incentive compensation management that drive high impact.
Incentive Compensation is one the most important drivers for sales force productivity and effectiveness. Sales teams today continue to form a significant driver of a firm’s topline, and hence having an engaged sales force is critical for corporate success. Compensation budgets today are a significant spend for any firm, and hence gaining optimal ROI out of this spend is a topic of key research. There are many areas in an Incentive Compensation program that contribute to high impact.