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Compensating New Sales Roles: How to Design Rewards That Work in Today's Selling Environment

Book Description

With the explosion in Internet sales, organizations are frantically transforming their sales departments, adding new roles and redefining existing positions, to capture a share of this lucrative new market. This second edition of the landmark Compensating New Sales Roles explains:

  • How to identify and establish the sales roles an organization needs to turn in double-digit growth on a continuous basis

  • How to design and implement a compensation plan that directs, motivates, and rewards employees who perform effectively--regardless of sales channels

  • How to compensate sales staffs in telesales and teleweb operations--the fastest growing fields of selling

  • Packed with updated tips, tools, and examples, along with a new focus on online selling opportunities, this is an essential guide for human resources/compensation professionals, business owners, and sales executives.

    Table of Contents

    1. Copyright
    2. ILLUSTRATIONS
    3. FOREWORD
    4. PREFACE
    5. ACKNOWLEDGMENTS
    6. NEW MARKET REQUIREMENTS
      1. WHY YOUR COMPANY REQUIRES NEW SALES ROLES
        1. How to Create New Sales Roles and "Recharter" Existing Jobs
        2. New Sales Roles:The Key to Business Success
        3. Six New Sales Roles that Improve Interaction with Customers
        4. Transactions Versus Relationships:How to Help Your Company Implement New Sales Roles
        5. Three Key Elements of the Customer Relationship Management Model
        6. Four Telltale Symptoms that a Company Needs New Sales Roles
        7. How Your Company Can Benefit from Investing in New Sales Roles
        8. Three Critical Compensation Challenges
        9. Summing Up
      2. WHY SALES COMPENSATION PLANS FAIL—AND HOW YOURS CAN SUCCEED
        1. Four Integral Parts of a Dynamic Sales Compensation Plan
        2. How a New Sales Compensation Plan can Help Improve Products,Service, and Cost Performance
        3. Five Positive Outcomes of a Successful Sales Compensation Plan
        4. Five Reasons Why Sales Compensation Plans Fail
        5. Can You Fix a Failed Sales Compensation Plan ?
        6. How to Help your Company Make the Transition from a Failed Plan to a New Plan
        7. Summing Up
      3. HOW TO ADOPT NEW SALES ROLES TO WIN AND RETAIN SATISFIED CUSTOMERS
        1. Compensation Is the C Aboose, Not the Engine
        2. The Sales Strategy Matrix:An Essential Tool for Aligning Sales Jobs with Company Objectives
        3. How Companies Deploy New Sales Roles
        4. The Five W's for Creating New Sales Roles in Your Company
        5. Using the Five W's to Get Results:A Case Example
        6. Five Steps for Initiating Productive New Sales Roles
        7. New Sales Roles in America's Best Sales Forces
        8. Summing Up
    7. DESIGNING COMPENSATION PLANS FOR NEW SALES ROLES
      1. A BLUEPRINT FOR LINKING COMPENSATION TO NEW SALES ROLES
        1. Sales Compensation:What It Is and What It Is Not
        2. How to Link Compensation to New Sales Roles
        3. Clarify Sales Strategy
        4. Determine Financial Requirements
        5. Identify Performance Measures
        6. Develop Program Details
        7. How to Create a Successful Sales Compensation Design Team
        8. Summing Up
      2. WHAT TO EXPECT AND HOW TO MEASURE SUCCESS IN NEW SALES ROLES
        1. Electronics Components Distributor
        2. Office Supplies Retailer
        3. Medical Equipment Manufacturer
        4. How Performance Measures and Job Expectations Work
        5. Three Measurement Practices That Support Profitable Top-Line Growth
        6. The Customer-Centric Performance Measurement Model: Three Indicators of Success
        7. Four Performance Benchmarks for Evaluating Sales Excellence
        8. How to Choose the Best Performance Measures for Your Company's New Sales Roles
        9. Six Examples of How New Sales Roles Affect Performance Measurement
        10. Setting Performance Objectives: What to Do and How to Do It
        11. Setting Performance Expectations: What to Do and How to Do It
        12. Two New Approaches for Measuring the Success of New Sales Roles
        13. Three Performance Management Challenges and How to Deal with Them
        14. Summing Up
      3. DESIGNING COMPENSATION PLANS FOR NEW SALES ROLES
        1. Eight Key Sales Compensation Terms and Definitions
        2. How to Compensate New SALES Roles That Affect Existing Jobs
        3. Compensating Newly Created Sales Jobs
        4. New Approaches to Compensating Nonselling Team Members
        5. Summing Up
      4. COMPENSATING TELECHANNEL JOBS
        1. Five Telechannel Applications That Are Critical to Sales and Service
        2. Three Major Challenges When Implementing Telechannel Jobs
        3. How to Clarify What Type of Telejob Your Company Needs
        4. Designing Compensation Plans for Telechannel Jobs:Three High-Level Considerations
        5. Compensating Telemarketing Jobs
        6. Compensating Telesales Jobs
        7. Compensating Customer Service Jobs
        8. Compensating Technical Service Jobs
        9. Compensating Field Sales And Teleteams
        10. Using Contests and Recognition
        11. Summing Up
      5. COMPENSATING SALES SUPPORT STAFF
        1. How Sales Support Jobs are Critical to Effective Customer Interaction
        2. Retaining Customers:the New Goal for Sales Support
        3. When to Include Support Jobs in the Sales Compensation Plan
        4. Compensating Presales Jobs
        5. Compensating Postsales Jobs
        6. How to Answer Four Tough Questions About Sales Support Compensation Plans
        7. Summing Up
      6. COMPENSATING SELLERS AND TEAMS FOR LARGE SALES
        1. The Challenge of Selling Effectively at the "C" Level
        2. Tips on Defining a Large Sale
        3. How to Organize Company Resources for Global Account Teams
        4. Five Benefits of a Consistent Sales Process for Large Deal Selling
        5. How to Develop Compensation Plans for Large Sales: Two Case Examples
        6. Five Key Lessons for Successfully Selling Large Deals
        7. Summing Up
      7. COMPENSATING SALES MANAGERS AND TEAM LEADERS
        1. Three Groups Affecting the Sales Manager's Role
        2. Three Pivotal Sales Manager Roles
        3. How Sales Managers Spend Their Time
        4. How to Match Sales Manager Jobs with the Right Compensation Plans
        5. Four Tough Issues That Come with Sales Manager Compensation Plans
        6. How Team Leader and Sales Manager Jobs Differ
        7. Two Incentive Plans for Compensating Team Leaders
        8. Summing Up
    8. IMPLEMENTING NEW PLANS SUCCESSFULLY
      1. TACKLING SOME OF THE MORE CHALLENGING DESIGN ISSUES
        1. Challenging Issues: An Overview
        2. Five "Big Picture" Questions Top Managers Ask About Sales Compensation
        3. Six Tough Design Issues That Affect Compensation Plans
        4. A Checklist of Other Design Issues You Are Likely to Face
        5. Summing Up
      2. HOW TO INTRODUCE COMPENSATION PLANS FOR NEW SALES ROLES
        1. Three Hurdles to Implementing New Sales Compensation Plans
        2. The Change Management Model: A Four-Step Process
        3. Prepare to Launch the New Plan
        4. Implement the New Sales Compensation Plan
        5. Monitor Employee Reaction and Business Results
        6. Recalibrate—Resolve Any Glitches Quickly
        7. Summing Up
      3. EVALUATING RESULTS UNDER A NEW SALES COMPENSATION PLAN
        1. Three Key Areas to Examine for Results
        2. What Not to Evaluate
        3. Preparing for the Evaluation Process
        4. How to Conduct an Accurate Evaluation in Five Steps
        5. How to Report the Results of an Evaluation
        6. Recalibrating Again: Updating Your Plan for a New Year
        7. Summing Up
      4. FUTURE CHALLENGES
        1. Three Guiding Principles to Help You Address Future Challenges
        2. The Talent Challenge
        3. The Sales Credit Challenge
        4. The Effective Frontline Manager Challenge
        5. Summing Up
        6. Closing Comments
      5. GLOSSARY OF TERMS
        1. Glossary
      6. ILLUSTRATIVE FORMAL SALES COMPENSATION PLAN DOCUMENT
        1. Company Name, Executive Approval: Fiscal Year 2001 Incentive Compensation Plan
        2. Company Name Executive Summary: Fiscal Year 2001 Incentive Compensation Plan
        3. Company Name Fiscal Year 2001 Incentive Compensation Plan
      7. SALES COMPENSATION AUDIT CHECKLIST
      8. ARTICLES OF INTEREST ON SALES COMPENSATION
        1. Compensation for Managers and for Teams
        2. Sales Compensation Design
        3. Performance Measures
        4. Implementation, Job Definition
        5. Legal Issues
        6. Automation
        7. Rewards/Recognition, Team Incentives, Telemarketing
        8. General Industry/Company Specific
      9. REWARD AND RECOGNITION QUESTIONNAIRE
        1. Definition of Reward and Recognition Programs
        2. Directions for Completing the Questionnaire
        3. Types of Rewards
        4. Types of Recognition
        5. Reward and Recognition Administration
      10. NOTES
        1. Chapter 1 Notes
        2. Chapter 2 Notes
        3. Chapter 3 Notes
        4. Chapter 4 Notes
        5. Chapter 5 Notes
        6. Chapter 7 Notes
        7. Chapter 9 Notes
        8. Chapter 10 Notes
        9. Chapter 12 Notes
        10. Chapter 14 Notes
    9. Notes