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About half of surveyed U.S. employers (51 percent) intended to revise their sales compensation plans in 2011, according to a WorldatWork survey,
Sales Compensation Programs and Practices.
From July 12 to Aug. 6, 2010, WorldatWork surveyed its members—predominantly HR, compensation and benefits professionals working in large U.S. companies. The top reasons respondents gave for planned sales compensation changes in 2011 are:
The study found that while 51 percent of companies planned to revise sales compensation plans in 2011, less than half (48 percent) had documented guidelines governing the process, manner and frequency in which sales compensation plans are reviewed and revised.
For the first time since the survey’s inception in 2005, a majority (55 percent) of organizations reported making no changes to their sales compensation plans in 2010, most notably companies in banking/finance (62 percent) and pharmaceuticals (64 percent).
“The turbulent economic environment of the last couple of years has challenged sales teams across the board. In 2010, organizations kept changes to their sales compensation plans to a minimum, focusing instead on the basics of getting their forecasts right and setting smart goals for their sales force,” said Jim Stoeckmann, CCP, sales compensation practice leader for WorldatWork. “In 2011, with a sluggish economy in the forecast, organizations are going to rethink their business strategy and will want to realign incentive pay with it,” he added.
Among other key points highlighted in the survey:
A video discussion about the survey can be viewed
Stephen Miller is an online editor/manager for SHRM.
Compensation for Sales Managers
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