Compensation and rewards are explicit expressions of your goals and priorities. How your employees and independent contractors execute your strategy completely depends on your workforce performance management, compensation and rewards.
There are big industries in employee engagement, experience management, performance improvement, change management, and total rewards. But, too many of these programs fail to perform, some even becoming counter-productive and destructive.
In the worst cases, this results in millions in lost sales, forever-lost customers, and costly employee turnover.
The reason is rarely the lack of priorities, but too many conflicting priorities: too many ‘engines’ pulling in opposite directions. Huge energy spent and resources wasted, with little net progress toward any objective.
Non-integrated performance management, compensation and rewards across your Workforce, Customer, and other stakeholders dooms goal achievement, no matter how compelling the core product or service.
Commission Systems creates all-enterprise, cross-function, priority-aligned performance solutions that optimize Workforce achievement and results.
Workforce and Business Unit Performance Management, Compensation & Rewards:
- Sales revenue production, opportunity management, sales management
- Sales activities, results, volumes, revenues, mix, distributions
- Referrals, referral-to-sales, and referral productivity, intra- and inter-business unit
- Customer service, satisfaction and retention
- Service quality, time-to-resolution, error rates, accuracy, and service management
- Asset and liability quality, risk ratios, loss ratios, volatility
- Business Unit Productivity, profitability, yield, output, efficiency, cost optimization
- Performance ratings, competencies, training, and project-to-completion
- Revenue Recognition: performance obligations, judgments/estimates, contract balances, revenue adjustments
- MBOs and related bonuses
- Cash- and non-cash-based: all plans
- Reward and recognition programs
- Special Performance Incentives (SPIFFs)
- Merit Pay programs: individual and group
- Equity compensation programs; short-, medium-, long-term
- Revenue and profit sharing, fee splits, distributions
- Percentage, flat rate, one-time and recurring commissions
- Recoverable and non-recoverable draws
- Accelerators, qualifiers, and caps; Manager overrides at all hierarchy levels
- Lookback and pay-forward pay-outs, charge-back and prior period adjustment accounting
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SVP Sales & Service Support
$90 Billion Asset Bank
For information about our Workforce Performance Management solutions, please contact us.
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Incentive Plan Design & Managed Services.
Better Plans. Smarter Incentives. Full Service. Top Performance.