This is a dilemma many businesses find themselves in, in fact, even when there are justifiable reasons for a business to consider forfeiting commission payout. The first reference for such a business would be the agreement in place regarding commission payout. This is why each sales contract should have clear terms defining the duties of a sales representative, their expectations, and those of the employer in relation to every aspect of the sale.
The gap between the top paid sales agents and the least paid keeps getting wider and wider. As the top sales reps continue to earn high, there could be dire effects on bottom performers.
2016 was a dark year in the history of one of America’s prestigious banks, Wells Fargo. The reputation of this institution was shredded into pieces by a damning scam of opening over 2 million fake accounts without authorization by customers. Consequently, the bank had to part with $185 million in fines and additional $5 million as compensation to affected clients.
Sales are the lifeline of any business. If you want to grow your firm in leaps and bounds, then you need a very solid sales strategy. You will also need an exceptionally good team to sell your products and spur the needed growth. One of the secrets of achieving this is to create a sales compensation plan that will literary attract the best salesmen and women in the market. Once you have your plan, how can you sell it to your employees effectively and avoid unwanted reactions? You can make your compensation plan irresistible by basing it on the following 5 principles:
In case you haven't heard, December 1, 2016 will bring about new changes to the current overtime regulations. The Federal Department of Labor (DOL) has issued a new ruling that affects businesses both large and small. Here’s what you should know to help your company be prepared and compliant.