A good compensation plan is one of the most important ingredients in the recipe for direct selling success, but what makes a compensation plan good? The answer isn’t as simple as a “binary” plan, a plan that pays out 60%, or a plan that is used by Company X.
A good compensation plan is one that financially and ethically fits your business while motivating and rewarding the 12 key behaviors you should seek from your salesforce.
At the Direct Selling Edge Conference, you will learn about compensation plans from top compensation plan and direct selling expert Jay Leisner of Sylvina Consulting.
Your compensation plan should include qualifications to measure performance and compensation to reward meeting specific goals. At our conference, you’ll discover or review the most common components of each. All compensation plans have similarities, but there are also fundamental differences.
Just like other things in life, it’s easy to make mistakes. Some kinds of mistakes have minor consequences. Compensation plan mistakes can have significant impacts on your company’s growth and health. You can put your plan to the test when you learn the eight most common compensation plan design mistakes at the Direct Selling Edge Conference .
Your compensation plan should be designed with consideration of the products or services you are selling, the consumption patterns of the products or services, the margins for your products, your budget for field compensation, your overhead costs, and the targeted profitability of your company.
As compensation plans raise ethical issues, your compensation plan should also be designed with consideration for your tolerance of inactivity and the consequences of not staying ahead of others who were recruited directly or indirectly by a representative.
Your compensation plan should be designed to fit your business. Never adopt another company’s plan as a shortcut. Learn why not at the Direct Selling Edge Conference.