Explore 7 sales compensation plan examples and how to choose the right one for your business.
Do your employees feel motivated? Are you rewarding the right sales behaviors? Are you able to attract and keep top sales talent in your industry?
The answers to these questions depend largely on the quality of your sales compensation plan.
Choosing the right sales compensation plan not only plays a role in driving employee satisfaction, it helps to determine whether your sales team will hit their targets and help you achieve your larger revenue goals.
Read on for 7 different sales compensation plan examples to consider, plus how to choose the one that’s right for your company.
- Sales compensation plans are critical for attracting and maintaining top talent.
- Straight salary plans offer straightforward compensation with no commission or incentives added.
- Commission-based compensation plans usually pay a base salary plus some form of commission for each sale made.
- The right sales compensation plan for your company depends on factors like company size, culture, and maturity.
- It’s important to know your larger sales objectives before creating your sales compensation plan so that you can align the two.