Summary of The Complete Guide to Sales Force Incentive Compensation
Copyright © 2006 AMACOM, a division of American Management Association
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Planning the ideal salesforce incentive compensation program is very challenging. Pay enough, and you’ll energize your salespeople. Pay too much, and you’ll throw money away while turning salespeople into loafers who can get by on fewer sales. Pay too little, and you’ll push your best salespeople out the door. But how much is enough, too much or too little? How do you figure out the best mix of salary, commissions and bonuses to pay your salespeople? This comprehensive compensation guide is a good place to start answering these questions. Written by sales and marketing experts Andris A. Zoltners, Prabhakant Sinha and Sally E. Lorimer, this is your essential map for developing and implementing the ideal compensation incentive plan for your salespeople. getAbstract recommends it to sales managers who want to do a better job of meeting their personnel needs and, therefore, their sales targets. (Read this before you negotiate compensation with anyone else.)
In this summary, you will learn
- Why developing the ideal sales incentive compensation plan is difficult;
- What are the primary objectives and requirements of a good sales incentive compensation plan; and
- How to create the right plan for your salespeople.
About the Authors
Andris A. Zoltners and Prabhakant Sinha teach college business courses. They co-founded a business-consulting firm. Sally E. Lorimer, business consultant and writer, is a former principal at Zoltners and Sinha’s consulting firm.