{"id":824,"date":"2019-01-23T17:55:15","date_gmt":"2019-01-23T17:55:15","guid":{"rendered":"https:\/\/c1mdevsite.com\/360consultingdfw.com\/?p=824"},"modified":"2019-01-31T18:29:17","modified_gmt":"2019-01-31T18:29:17","slug":"design-a-solid-sales-compensation-plan","status":"publish","type":"post","link":"https:\/\/c1mdevsite.com\/360consultingdfw.com\/design-a-solid-sales-compensation-plan\/","title":{"rendered":"Design A Solid Sales Compensation Plan"},"content":{"rendered":"

If you want to recruit the best of the best and then keep them around, your job as a business leader is to provide the incentives to stay.<\/strong> Recruiting, hiring, and retaining top sales talent requires a competitive compensation plan<\/a>.<\/p>\n

If you missed it, check out last week’s post<\/a> on what NOT to do for your sales compensation packages.<\/p>\n

When it comes to establishing a solid plan, it\u2019s all about balance: pay too little and top salespeople won\u2019t even<\/strong> look at your organization. But pay too much and salespeople could potentially become complacent. And as a result, you\u2019ll have trouble scaling your sales organization as growth occurs.<\/p>\n

So how do you successfully navigate your way around this delicate balancing act? Here are a few of our ideas.<\/p>\n

 <\/p>\n

Six Key Elements of Competitive Compensation Plans<\/strong><\/h2>\n

Here are the guiding factors for a competitive compensation plan.<\/p>\n

1. Empower Both Parties<\/strong><\/h3>\n

A great compensation plan is a compromise; you want to design your plan in a way that links compensation to individual sales performance and to at least one of the following two elements:<\/strong><\/p>\n