Meeting the Sales Compensation plan design challenge of 2020/2021
Summary
The reality that many managers are facing is revising their compensation plans for 2021 to maintain motivation within their sales teams during these challenging times. • Balance is the key; Simple and imperfect is often better than complicated and perfect With these objectives fresh in our mind, the following review of core elements of a common sales comp plan are easily conveyed here in just a few minutes. • Peters guidance on setting up plan basics taps into his direct experience leading growing sales teams in the high tech world. While you may work in a different industry with profit margins that are different than what he calls upon during his recommendations, His thoughts on the set up of plan basics (OTE, Base Pay & Variable Pay, Caps, Accelerators , Tiered Performance Rewards are best practice level concepts. ), board member of GitHub (recently acquired by Microsoft), lecturer in management at the Stanford Graduate School of Business and a general partner at Andreessen Horowitz (a16z.com).
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