Situation
- The company had acquired several businesses in the past few years, both domestic and international, but failed to integrate their sales plans to enable cross selling and promote top line growth with a unified sales team
- Due to the various sales incentive plans, siloed and manual calculations were completed in 5 currencies to determine commission payouts. It was discovered that reps were over / under paid and monthly financial accruals were not being done properly
- Over / under payments to sales reps were as much as 20% of total compensation
- SLKone was tasked with unifying the sales plans to maximize top line growth while maintaining their best performing reps and creating a commission model to eliminate payment inaccuracies
Bespoke Solutions
- Reviewed all existing sales incentive plans and interviewed sales representatives from each product line to understand common threads and gain perspective from the stakeholders to be impacted by the new sales incentive plan
- Discussed with management their goals and objectives for the business to best craft an incentive plan to meet those goals
- Designed a sales incentive plan that would reward the high performing sales representatives in excess of the previous plan while continuing to drive higher top line growth
Leading With Results
- Successfully maintained all high performing sales representatives post implementation of the new plan
- Empowered reps with a personal commission calculator to estimate their payouts based on deals in their pipeline, which eliminated “napkin math” discrepancies when reps were closing the quarter
- Automated commission model for monthly finance accruals, auto emails with PDFs to each rep showing a summary of monthly commission and quarterly amounts while eliminating any potential errors in the calculation