Your trusted consulting firm for incentive compensation and sales effectiveness services, tailored to optimize your operations and achieve your business objectives.
Incentive Compensation Services
Incentive Compensation Training
We offer incentive compensation training to individuals or small groups, tailored to meet your needs. Elliot Scott has delivered training remotely and in person all over the world, including in Dubai, Saudi Arabia, Malaysia, Singapore, and Cambodia. He also tutors individuals in analysis techniques and tools common to incentive compensation and how to design a sales incentive plan.
Elliot is on the sales compensation faculty of WorldatWork and teaches all of their sales compensation courses. He is also a designer of their certification exams.
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Standard Incentive Compensation Training Overview
There are several reasons why companies may require in-house incentive compensation training.
For example:
The human resources organization may have been called upon to provide design support to various business units but does not have sufficient expertise to do so.
Incentive plan design responsibility may be decentralized. Managers in various businesses or geographies who have little or no experience with incentive plan design may be called upon to develop plans for small groups as a relatively minor part of their jobs, but are not equipped to do it well.
Sales managers must understand and support the incentive plan, and the rationale behind it, to their teams. Training that provides a working knowledge of incentive compensation theory and practice can enhance their ability to do so.
Incentive compensation training not only provides practical knowledge but also helps allows plan designers on how to design a sales incentive plan and allow them toto share challenges, and ideas, and network for future knowledge sharing.
The structure of an incentive compensation training session covers the theory and practice of incentive plan design and may cover all or part of the following, depending upon the needs of the organization:
Motivational theory
Different types of sales roles
The purpose and objectives of incentive compensation and its role relative to other elements of the total rewards package
The incentive design process and how to structure a successful design project
Incentive compensation philosophy
Market pricing
Technical analysis of historical pay and performance data
How incentive plans should differ by type of sales role, market maturity, or revenue type
Determining salary incentive mix and leverage
Different types of performance measures and when each is appropriate
Sales crediting alternatives
Different types of incentive forms and when each is appropriate
How to design payout curves and set commission rates
Quota setting methodology and process
Plan governance
Terms & conditions
We work with clients to tailor incentive compensation training sessions from one hour to two days.
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