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Companies that work with CompensationMaster to design
and implement their compensation plans achieve impressive results: |
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Revenue increases 30% on average in the year after the system is introduced (with the same sales force). |
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Profit is triple the industry norm. |
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Sales force retention rates average over 97%. |
Our strategies are based on a proven implementation approach,
developed over a 23-year period. Here's what we do
Needs assessment
We interview key members of your team, from senior executives to branch management and selected sales associates. By involving key personnel early on, we build the confidence and trust that builds success.
Competitive/market analysis
We analyze the competitive factors in your market and determine the potential for growth as well as where your company may be vulnerable to competitors.
Financial assessment
We review your profit-and-loss statements and reconstruct them in our unique CompensationMaster software. We then calculate the correct breakeven points and entry levels for your current compensation plan. We also provide a competitive assessment, comparing your compensation plan to those of your competitors.
Business plan
Once we have the facts, we build a business model for you. We reconstruct your company mathematically and design a model that increases profitability and enhances your position in the marketplace. We help you create a win-win relationship between you and your sales force—and help get you and your sales force pulling in the same direction. We provide the tools to empower your sales force and management team to achieve maximum productivity and eliminate many day-to-day problems.
Risk analysis
Once the plans are designed, we run them through several tests. First, what are the implementation risks? We break your sales force into a number of groups and analyze the impact on each group. Given the market conditions and competition, whom are you most at risk of losing?
For example, if top producers have been subsidizing other members of the sales force and we equalize the plans, are you at risk of losing mid-level producers? Perhaps not, because no competitor in town has a better offer for mid-level people. But there might be a group of new recruits who are at risk.
Then we determine whether the plans can be administered. There are some accounting systems that can't handle certain types of plans.
Plan adjustment
Based on what we discovered during the risk analysis phase, we adjust the
compensation plans.
Change management planning
We recommend a number of change management techniques that have been proven
successful in previous consulting engagements, and are largely responsible
for the high retention rate that we typically achieve.
Implementation
We introduce the new plans to your managers, educating and training them to sell the plan to your sales force. We provide one-on-one counseling for "high profile" sales associates as well as group sessions.
Post-implementation
Much like our compensation designs, we customize our services to meet your needs and ensure that the implementation and transition phases of the CompensationMaster system are successful.
Ongoing support
We remain available to assist you with any implementation issues that may
occur during the period of time after the plans are introduced.
Annual review
We recommend an annual review of your compensation plans. We check the calculations
to ensure that they are still appropriate, and make adjustments to the plans where needed.
Best-practices approach
Following this best-practices methodology for developing and
introducing new commission structures allows you to stay in control. You can
project what your results will be ahead of time, and manage the whole process
with confidence.
To learn more, schedule a demonstration over the Internet.
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