Effective communication of incentive plans to your sales team is crucial for its success. Our incentive plan communication service ensures your team fully understands the plan, how it works, and how their performance directly impacts their incentives.
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A compensation communication plan specifies the communication objectives, the key messages for each audience, a series of cascading communication events (which can be abbreviated or extensive), the media for delivery of the messages (i.e., voicemail, webinar, teleconference, stand-up presentation, workshop, one-on-ones), and the timing and accountability for implementing the communication plan.
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Every incentive plan needs a polished, clear, and concise plan document that is specifically tailored for every organization. Sometimes, a brief 2-3 page document will suffice, but more detail is often helpful or required. We work with clients to develop clear and impactful plan documents that meet the needs of their organizations.
Most incentive plan communication documents should include:
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In addition to plan documents, communication presentations are a requirement for the effective rollout of new or changed incentive plans. These presentations are tailored to various events, such as:
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Communication presentations are usually not as comprehensive as the plan documents, but parts may go into significant detail, particularly if there are changes that may be difficult to comprehend. We collaborate with clients to develop polished communication presentations that build trust and enthusiasm for the new plan.
Calculating incentives can be challenging when plan mechanics are complex. In such cases, incentive calculators can be indispensable. his is especially true for goal-based plans that calculate performance on a year-to-date basis.
An incentive calculator is an Excel or web-based tool used by salespeople to compute their earnings based on real or hypothetical sales performance scenarios. While not a sales compensation administration software, some clients find it a cost-effective tool for actual incentive computations, which can also be used to motivate salespeople.
Given our expertise in the standard incentive calculation formulas, we can develop these calculators more efficiently than can be done in-house.
