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Home > Incentive Compensation Management > Incentive Management Helps Businesses Align the Sales Force with Current Goals
Incentive Management Helps Businesses Align the Sales Force with Current Goals
Without proper sales performance management solutions, the sales force can lag behind current corporate objectives and often fall short of projected sales or new sales goals that the company is trying to implement. It may seem like an IT solution specifically built for sales performance management (SPM) would be the only way that companies could bridge the gap between performance and sales goals, but many of these solutions neglect an important aspect of streamlining sales management: incentive compensation management (ICM). ICM is the process of managing the commissions, bonuses, quotas and performance rewards of the sales team, and these processes are key to motivating the sales force and implmenting new objectives. Many of the companies that develop these SPM solutions think sales incentive calculations are just administrative work that doesn't have any bearing on managing performance or implementing corporate objectives. However, a dedicated incentive compensation management solution can help companies improve sales team performance, encourage employee loyalty and retention, as well as allow sales managers to better align sales goals with overall corporate objectives. Sales incentives are the way that management makes sales goals real to representatives because they represent tangible rewards for success. With an ICM system that is streamlined and efficient, teams will work harder to fufill corporate sales objectives. With outdated ICM systems, companies had to implement new sales goals in stages, trickling down through management to the sales representatives. Sometimes this implementation process could take weeks, and sales teams would have to wait to get compensated for success under new quota and incentive schedules. With a cutting-edge software solution like Glocent, not only can sales teams trust that their incentive payments will reflect actual results, but the sales managers can make instant changes to schedules and corporate strategies can be executed much more quickly.