Incentive Compensation Management

Incentive Compensation Management: Seven Best Practices

Incentive Compensation Management: Seven Best Practices

Incentive compensation management has become an important aspect of sales-driven companies. These companies have recognised, practised, and observed how introducing incentive compensation programmes instils commitment, enthusiasm, and a targeted approach across the sales force over time. Employees are motivated by smart incentive compensation plans, which direct them to put forth their best efforts. Compensation planning is used by successful companies to reward every effort made at various stages of the sales cycle - from opportunity identification to closing the deal. When done correctly, a well-thought-out incentive compensation plan may motivate employees to go beyond expectations, put in more effort, and prosper in today's competitive market. The…
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