Sales success not only depends on sales people talking to customers, but it also rests on an effective communication within the sales department of a company. Poor communication and not having the right commission tracking plan within a sales team will automatically kill the confidence and trust, thus resulting to negative changes and hindering the successful application of new initiatives that would propel a company’s development. Therefore, to make sure you have a successful relationship within the sales department, you will need the right commission tracking plan. Check out the next characteristics to start building your perfect plan:
- Clear to every member.
- A two-way thing (where every party should have a voice).
- Audience centric.
Keep a simple commission plan, use more realistic goals, stick to a plan and pay bonus promptly
And as far as a sales team motivation is concerned, communication, remuneration and commission tracking are the key elements that should be managed strategically. Most employers are known to misuse commission tracking when rewarding sales employees. Basically, bonuses should only be awarded if a company meets its objectives in a profitable way that pleases the management. And to make sure you have the right commission tracking plan and it will gets the results you desire:
- Keep a simple commission plan.
- Use more realistic goals.
- Stick to a plan and pay bonus promptly.
Communicating the right commission tracking plan is key to success and will increase performance
Several companies are currently introducing a system that only awards employees with commissions after a company meets certain objectives. This has helped avoid the potentially misleading effect of concentrating too much on a particular measure. In addition to economic and output considerations, this commission scheme has progressively taken account of factors such as attendance, quality, customer service, safety and individual and team performance. However, there are some companies that operate successful commission schemes that focus on particular key objectives – most often profits and productivity.
Elsewhere, there exist companies which operate on commission schemes that target specific jobs, teams or departments alongside company-wide or site-level elements. Individual performance-based bonus schemes are gradually gaining popularity since they involve measuring target at the level of impact of employee’s performance in a much visible way to motivate employees develop new ways of working to meet the company’s objectives.
To summarize it all, everything depends on a simple and well-designed commisson plan that will define every bit of how you use award the bonus. To come up with the finest operating levels or bonus schemes you should check out Blitz, the commission tracking software that will make everything a success.