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Sales Compensation

Sales Compensation. Sales compensation. Sales compensation  is the combination of base salary, commission, and incentives that are used to drive the performance of a sales organization.

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Sales Compensation

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  1. Sales Compensation

  2. Sales compensation • Sales compensation is the combination of base salary, commission, and incentives that are used to drive the performance of a sales organization. • Sales compensation management is the method of overseeing plans and ensuring components drive performance aligned with organizational goals.

  3. Sales CompensationObjectives • Provide a living wage • Adjust pay levels to performance • Mechanism to achieve company and Individual goals

  4. Sales Compensation • How to fix the wage • Simple ranking • Classification or grading • Point system • Factor comparison method (Factor comparison is to assign the relative parts of each job role a financial value i.e. the amount of compensation offered for that part of the role).

  5. Sales Compensation • Compensation Patterns • Present compensation system in the industry • Average compensation for similar positions • How are the companies doing at this levels

  6. Sales Compensation • Compensation elements • Fixed element (Base salary) • Variable component/s (up and down) • Fringe benefits (an extra benefit supplementing an employee's money wage or salary, for example a company car, private health care, etc) • Reimbursements (the action of repaying a person who has spent)

  7. Sales Compensation • Types of compensation plans • Straight salary plan • Straight commission plan • Combination of salary and incentive plan

  8. Sales Compensation • Minimum expectations • Job Security • Right leadership • Professional environment • Suitable pay • Enhancement

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