What about the budget?
An essential piece of any company management system is the budget process. Managers for a number of reasons such as commission planning, performance evaluation, product pricing, and investment planning utilize budgeting information. Moreover, the number of diverse things within the organization determine whether the budget process will be effective. These businesses should consider employee compensation as a crucial investment, and they should look to. Planning your strategy and developing the proper budget for compensation is essential to be able to recruit and retain talented employees that you need to grow your business.
Consequently, commission planning is evidently one of the most significant errands of today’s compensation expert. Annual compensation planning implicates organizing budgets to address salary increases, salary structure adjustments, promotion increases and variable pay expenditures. Typically, the budget process occurs well in advance of fiscal year end so that cost projections can be included in operating budget forecasts for the coming year.
Budget is a key element in commission planning
It helps you keep current on what comparable positions are earning in the marketplace so your company’s compensation package can keep up with or exceed your competitor’s salary packages. It is increasingly challenging to balance paying enough to retain your top talent and still stick to your commission budget.
Do your commissions depend on performing to deadlines? Can they be delayed by administrative requirements like filing paperwork or submitting reports? Blitz keeps important dates and deadlines front and center so you can control exactly when you get paid.
Sales is a whirlwind, and when you’re focusing on the deals in front of you, who has the time or energy to check the math on the sales you’ve already closed? Blitz keeps things above board, up to the minute, and totally transparent – using easy-to-read graphs and charts to detail exactly how your cash is calculated. No surprises.