Payplan and Commissions
Why would I need to consider PayPlan & Commissions?
- Salespeople are incentivised by commissions
- If salespeople are incentivised they are more likely to sell higher volumes of the product
- Payplan / Commissions for existing propositions / products need to be reviewed as part of a new launch
Pre-requisites to Consider Prior to Engagement
- Will the new product / proposition affect commissions for existing portfolios?
- Is an incentive request required for this project? If so, have I completed the incentive request form?
- Have I ensured that reliable reporting will flow through into the PayPlan team? (If the PayPlan team cannot see the numbers, they cannot pay salespeople)
Stakeholders
- Ange Emery (Principal, SME Payplan, Performance & Incentives)
- Hannah Clarke (Payplan Manager)
- Rob Millar (Payplan Manager)
- Stephen Glasson (Mobile Trading Manager)
Who, How and When to Engage PayPlan & Commissions
- PayPlan & Commissions do not have a front door and are engaged by Acceptance into Sales
- If an incentive request is required for a project as opposed to an update to PayPlan, a form must be completed – LINK NEEDED
What will success look like at point of launch / post-launch?
- Salespeople are motivated by the incentive enough to drive sales performance, increasing the likelihood of meeting sales volumes and forecasts
- Salespeople are clear on their Rate Card / SOV (Sales Order Value) targets
- All bonus payments internally & externally are paid correctly and are paid on time
- Effective communication of commission rates are included in sales briefing
Related chapters
- Channels
- Commercial & Propositions
- Reporting
How are the Readiness Team Involved?
- Readiness Managers – Early strategic project scoping, focusing on SX / XD
- Change Board – Manages governance and Impact Assessments
- Channel Deployment – Gathering Subject Matter Experts from channels, forming Readiness tribe
- Channel Improvement – Measuring post-launch success and cataloguing defects