Post-Implementation
Once your roll-out is complete, you can take advantage of packaged offerings that help you get the most out of your new compensation structure.
These offerings are designed for executives and managers who want to use merit-based compensation more strategically to recruit, retain and motivate their sales force, as well as to monitor and measure the company's progress against defined compensation strategy objectives.
Pricing is customized by company size and the needs of your organization.
Reporting
Monitor your results and measure ROI with a set of reports that give you actionable information about the financial impact of the changes you have made to your compensation plans. Both executives and branch managers can use these reports to get the information they need to ensure a high degree of focus, direction and support related to compensation strategy execution.
There are a variety of standard and customized reports available, including:
- Sales associates on new plans, % converted, breakdown of associates moved by producing/non-producing/new
- Number of recruits on new plans, and incremental company dollar associated
- Conversion trends showing net impact to company dollar of in/out associates relative to new plans
- Overall conversion trending statistics by % on plans, graphed against company targets or industry baselines
- Impact on company dollar as a result of associates moving to new plans
- Increase to gross revenue and company dollar for associates on new plans
- Productivity comparison of associates on new plans vs. associates not on new plans
- Exception intensity and cost tracking
- Pending deals snapshot, best timing of transition to new plans.
A dashboard provides a graphical snapshot of key metrics by office, region, and business unit, making it easy to compare success rates and identify areas for improvement.
Analysis
On-going analytical support helps ensure that your plans continue to function the way they should and give you the competitive advantage you expect. The analysis package includes:
Annual CPI inflation plan update – your plan strategy is updated each year to take inflation into account. We update your software files and client plan booklets.
Competitor plans review – you have us regularly review competitor actions in your market and suggest tweaks to your strategy to counter their actions.
Plan strategy adjustment – we continually monitor your plan choices and suggest changes that will maximize your results and minimize risk. For example, we might recommend phasing in a mobile plan.
Exception cost and reporting – we regularly validate, track and identify cost of exceptions made and provide future strategy to minimize cost or work towards better solutions.
Software & Training
We make sure our proprietary sales compensation software is provided, installed and maintained for all company executives, branch managers and other key employees (such as gurus or the accounting department).
Most clients take advantage of our sales compensation software in a hosted model (also called Software as a Service or SaaS), which makes us responsible for keeping the software up-to-date and where we bear the expense of maintaining the servers and supporting infrastructure. However, it is possible to have CompensationMaster's software installed on one of our servers in your data center if you prefer that.
An ongoing training plan is developed and implemented, which includes:
- Effective use of CompensationMaster software
- New manager training on the plans, policies and programs involved in the new compensation strategy
- Use of the compensation strategy to successfully recruit and retain sales associates
- Guru training for key leaders so they fully understand the tool
A quarterly webinar allows everyone who is registered to use the software to learn a variety of applicable strategy optimization techniques.
Note: These packaged offerings are only available to current clients.
