Sure, your company has a great work environment and an even better work-life balance. Your employees genuinely care about the work they do and they enjoy coming to the office. You host contests, hand out annual awards, and pat your employees on the back every chance you get. That’s all great. But do you have…
Keeping your early sales champions motivated while implementing a longer term sales compensation strategy I took a few weeks’ off from my Sales Compensation Strategy blog series to focus on wrapping up my team’s quarterly goals and our Q3 projects with the portfolio companies. There is a lot of work in ensuring that internally our…
If you are paying outbound prospectors based on the number of appointments or demos they set you are likely to run into some quality issues.
When it comes to sales commissions, you must always start with your strategic objectives. Then translate these objectives into your sales strategy and then sales objectives. And only after do you align your sales team’s incentives to the strategy and the objectives. Salespeople tend to be one-track minded. For them, its all about making the…
Whether you’re an expansion stage technology startup or an enormous corporation that’s been around forever, there’s always a hiring budget. Every hiring manager looking to bring on new blood has constraints to work within and he/she will always want to make sure that a competitive offer can be made if it gets to that stage.…
Is your company struggling to retain key staff members? Is this hurting the long-term stability of your organization and making it difficult to execute against and achieve long-term goals? If so, your company may not be properly assessing the costs of employee turnover and may want to reconsider its employee compensation strategy. In today’s labor…
It’s undeniable: An organization’s most important asset is its people. But why do they come to work? Goodwill? Personal fulfillment? Nothing better to do? Honestly, no matter what we want to think, people come to work to make money! In addition to accounting for more than half of an organization’s expenses, employee motivation is why…
$100 bucks a week… $5,200 for the year. In the grand scheme of things, we are not talking lot of money when it comes to the spark (i.e. enthusiasm) that this sum can ignite in sales organization, not to mention opportunity pipeline. It’s December and your senior management team is likely wrapping up the final…
On average, between 55-75% of a company’s expenses can be directly attributed to the compensation of its employees. Building a successful compensation plan that supports your employees and your bottom line is important, and yet, far too many organizations don’t take the time to develop one that properly works for them. This is the first…
This is the last post in a short series on expansion stage sales compensation. To read the intro to the series, click here, and be sure to check out the previous post on sales executive compensation. A few years ago, when I was working as a principal at Insight Venture Partners in New York City,…
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