We realise that you may have different teams receiving compensation for the same deal, depending on what stage that deal is in.
You may have a lead generation team who get compensated when capturing a lead, a sales rep being compensated when a deal is closed won and a delivery team member being compensated when a project is completed.
Our multi-stage commission feature allows you to pay commissions at different stages of your sales and delivery process to different payees.
This can be done by your team manually changing the stage of a deal in Commissionly, which will trigger the relevant payment – or it can be automated with your CRM of choice, such as Salesforce, Hubspot, Zoho or others. Both the date and stage or status will be automatically populated and Commissionly will pay the appropriate payee at the right time.
Our sales compensation software simplifies the compensation process, improving automation and providing transparency for you and your employees so you can work together to boost your business’s profits. Get in touch with and find out how we can streamline your sales compensation plan.
Creating an incentive compensation plan with our sales compensation software
Incentive compensation is a form of pay structure which is based upon how the business and its individual employees perform. Essentially, employees receive a base salary with an extra reward (tallied up using a sales compensation calculator) for meeting specified targets. Multiple performance metrics can be used to determine which employees qualify for commission.
Creating and tracking incentive compensation
When developing your incentive compensation plan, your decision-makers will need to work hard to create a system which attracts the best sales talent, motivates and encourages the right business decisions. However, incentive compensation plans can become complicated, particularly when they involve several different performance measurements – or if you have different employee levels, for example. Your sales compensation calculator within Commissionly can help speed up the process.
The benefits of incentive compensation
Incentive compensation is incredibly effective when it comes to driving desired behaviour in employees. It allows organisations to promote and incentivise customer interaction, up-selling and a variety of different sales techniques.
Here’s how a sales compensation calculator within our compensation software could help your company to benefit:
- It could help you to align your incentives with your business objectives.
- Your business will be more likely to meet long-term and short-term targets.
- Your business can focus its attention on the behaviours and working culture it wants to push.
- Your teams will be encouraged to plan ahead and highlight any expectations.
- Your business will attract more sales-driven candidates for vacancies.
- With incentive compensation, funds are allocated when goals are achieved. This could save money related to salary rises.