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Meridian: Improving Sales Effectiveness
 

 

Sales incentive / commission schemes or pay plan

Meridian believes that an effective sales incentive, commission scheme or pay plan is one that drives and rewards behaviors& actions which support the achievement of business results.

We are confident that the majority of our clients or prospective clients would concur with this philosophy. Yet on numerous occasions, when we have analysed our client’s schemes, rewards are given regardless or results. Even worse, sometimes behaviors are rewarded that are directly opposed to the achievement of the business strategy.

Incentive schemes can only be designed when the organisation understands the links between activities and results. If this understanding is missing the impact of a scheme will not be understood. Meridian spends time helping clients understand this link and then developing a scheme that will drive the right behaviors. Communicating and reporting on the scheme are also vital elements. It must be simple to understand and simple to administer. Sales people need to now how the scheme works and how they are doing at any moment in time.

Meridian can also advise on what proportions should be rewarded on short and long term schemes. Whilst the business may operate on quarterly or yearly objectives, it will only achieve this if sales people achieve their daily objectives. This balance needs to be reflected.

click here to find out more about Meridian’s approach to constructing tailored incentive schemes.

 

 

 

 

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