embrace the game: 3 steps to creating winning incentive plans
TRANSCRIPT
Ask, Share, Learn – Within the Largest Community of Corporate Finance Professionals
Embrace the Game: 3 Steps to Creating Winning Incentive Plans
• Understand the most important five key factors in designing incentive plans that deliver profitable growth
• Identify specific opportunities to improve your company’s incentive strategy effectiveness
• Understand how to assess your company’s current plan, and fine-tune it for better employee engagement and return
Learning Objectives
After attending this event you will be able to:
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Ask, Share, Learn – Within the Largest Community of Corporate Finance Professionals
Embrace the Game: 3 Steps to Creating Winning Incentive PlansErik W. Charles, Principal Incentives Strategist, Xactly
Not Engaged
Engaged
Actively Disengaged24%
63%
13%
2013 Gallup: State of the Global Workplace Report (Worldwide)
Reps don’t understand their plans
Too much time between the effort and
the payment
Companies do not modify plans to
address changes, launches or threats
MOTIVATIONAL MYTHS
#4 Good motivation theories and practices will work for all employees
#5 Sales reps are either naturally motivated or they aren’t
#1 Having a job should be motivational enough
#2 Money is the greatestmotivator
#3 Nothing lights fire like fear
0% 50% 100% 150% 200% 250% 300%0%
50%
100%
150%
200%
250%
ATTAINMENT %
PAYO
UT
%
SALES GOALS
FIN
ANCE
GO
ALS
Real Time
Attainment Metrics
Trust
The System
BEHAVIORAL CHANGE
Pay Closer
To Sales Event
Motivate
Team
ARE YOU MAKING THESE COMP MISTAKES?
#4 One-Size-Fits-All Incentives
#5 Lack of Recognition
#6 Capping Commissions
#1 Weak Incentives
#2 Unattainable Goals
#3 Easy Targets
Embrace the Game: 3 Steps to Creating Winning Incentive Plans
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