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The True Cost of Incentive Compensation Payment Disputes

Many companies will strive to use the latest technologies in their operations, but neglect to utilize new software solutions when it comes to internal processes like sales incentive compensation management. When companies don't use automated systems to ensure that all their incentive payments are timely and accurate, they are doing their employees a disservice and costing themselves money. Inaccurate payments can cause sales employees to bring payroll disputes against the company, which can negatively affect not only the company's bottom line, but the employee's morale as well. The first way that payroll disputes over sales incentives hurt companies is by costing money to fix the dispute. The administrative costs associated with a payroll dispute can be high. First the payroll department has to process the dispute, then the administrative staff has to track down the error, and then the new incentive compensation payment has to be processed and rushed through. All of this paperwork can cost time and money. Glocent's automated incentive compensation calculation system eliminates all of these headaches by automatically calculating incentive payments based on actual sales figures uploaded from sales tracking software. When payments for sales commissions, bonuses and other rewards don't show up on time or are inaccurate, the company loses is out more than just financially. The relationship between an employer and an employee is based on trust, and this trust can break down when sales representatives consistently receive inaccurate payments. Payroll disputes can further break down employee morale and motivation. This can lead to increased turn-around in sales departments and disorganization. While these are serious consequences for company culture and efficiency, they can also cost money in terms of paying severance packages and onboarding of new employees to replace those who have left. With an automated system like Glocent, sales representatives can not only trust in timely and accurate sales incentive payments, they can also access reports to stay abreast of their own earnings. These reports are available from mobile devices or laptops so that sales teams are always informed about their upcoming incentive compensation payments.

Transparency at the speed you do business!