Great advice from our friends at World at Work
Originally posted August 20, 2014
“The simplest solutions are not easier to design because the process is very complex,” said Katharine McMullen, an engagement manager at IMS Health, during her presentation, “Overcomplicating a Good Thing: Evolving Back to Simplicity in Salesforce Compensation Plan Design.” “You’ll need to come up with something that supports goals and still makes sense to people who are relationship builders.”
According to McMullen and her co-presenter, Nicole Ventrone, engagement manager at IMS Health, an incentive compensation manager’s definition of a simple IC plan may be:
The plan is easy to understand and communicate
The plan has few metrics
The plan is easy to measure and administer
The plan includes an effective measure of performance.
Incentive compensation plans require balance. From the field, the program should be rewarding, simple, fair and motivating; from the management side, the program should emphasize growth and volume, be motivating, should pay for performance, highlight the budget, be easy to administer, be compliant and keep the brand strategy in mind.
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