The Carrot

Why Are Startup Companies Perceived to Have Better Incentives?

Posted by Mike Martin on Thu, Feb, 11, 2016

Over the past few months, I’ve had a few conversations with sales leads from Fortune 500 companies who are lamenting their lack of competitive advantage against new startups in their field. Concerns include: “Our company does a study every year on salary and the benchmarks say that we’re competitive, but something is still missing.” “I’ve been in interviews in which people will show me what other companies are offering. We can’t compete with that.” “It’s our top people I’m worrying about losing.”

Read More

Topics: ZS Associates, sales incentives, ZS, Mike Martin, compensation, benchmarks, top performers, startup

Roll Out the Red Carpet for Your Salespeople

Posted by Chad Albrecht on Fri, Jan, 22, 2016

As I watched the Golden Globe Awards earlier this month, I pondered why these awards shows exist, why they need a lavish party and why it’s all televised. What “value” is there in spending tens of millions of dollars just to hand out awards to people who make millions of dollars themselves? 

Read More

Topics: sales compensation, ZS Associates, ZS, Chad Albrecht, The Carrot, Recognition

How to Simplify a Sales Compensation Plan

Posted by Mike Martin on Fri, Jan, 15, 2016

I’ve been thinking about simplicity a lot lately with my sales compensation projects. In every single design kickoff meeting that I had this past fall, “Make it simple” was one of the top objectives of the plan design. However, nearly every plan that I was involved in ended up being more complex than any of the team members had originally hoped.

Read More

Topics: sales compensation plan, ZS Associates, ZS, Mike Martin, performance, success metrics, simplicity

Why Hilcorp’s $100K Bonus Could Make for an Ineffective Sales Incentive Plan

Posted by Steve Marley on Mon, Dec, 21, 2015

The other week I received a lottery card as a gift. I had to scratch off two sections and, if I had any matching numbers across sections, I would win the listed price. I could win anywhere from $2 to $10,000, and if I found a 5x multiplier, the maximum prize was $50,000. Not surprisingly, I didn’t win anything.

Read More

Topics: sales compensation, ZS Associates, motivation, incentive, ZS, Steve Marley, performance, Hilcorp, bonus

4 Do’s for Rolling out Your Sales Comp Plan

Posted by David Kriesman on Tue, Dec, 01, 2015

The contents of this post were first published in Sales Compensation Focus, November 2015.

For some, rolling out the new plan in January is an exciting opportunity to reinvigorate their teams: “We cannot rest on our laurels if we want to meet the increasing growth expectations for our product.” Others might be working on bigger changes, perhaps an overhaul to the current plan or a brand new plan ahead of launch: “We only have one chance to launch and need to get out of the gates fast.”

Read More

Topics: sales compensation plan, ZS Associates, ZS, communication, Rollout, Learning Style, David Kriesman

Is Your Sales Compensation Plan Pulling Your Top Reps Over for Speeding?

Posted by Brian Thompson on Wed, Nov, 18, 2015

We create sales incentive plans so reps drive as fast as possible to generate results—we want them driving for sales at 100 mph at all times. However, when we introduce caps and decelerators, we are effectively getting in a police car and putting up the flashing red and blue lights behind them. Instead of being fully rewarded, the sales reps feel like they have been pulled off the highway and issued a ticket with real out-of-pocket costs to them. As a result, we run the risk of frustrating and demotivating our top performers who are “driving the fastest.”

Read More

Topics: incentives, sales compensation, ZS Associates, caps, ZS, accelerators, decelerators, Brian Thompson

A Goal Without a Plan Is Just a Wish

Posted by Mike Martin on Tue, Nov, 10, 2015

I was watching sports this weekend, supposedly taking a break from sales incentives, and one of the announcers shared the title quote: “A goal without a plan is just a wish.” The quote really resonated with me, so I decided to do some quick research on it Monday morning.

Read More

Topics: incentives, sales compensation, ZS Associates, ZS, Mike Martin, goals, The Little Prince, Quotes, Inspiration, Wish

Your Sales Comp Transition Plan Needs to Start Now

Posted by Chad Albrecht on Fri, Nov, 06, 2015

In the vast majority of organizations, over 80% of the sales incentive plan timeline is spent developing the plan, leaving less than 20% of the time to roll it out to the sales force. In more concrete terms, most organizations will budget around two to three months from start to finish for new sales compensation plans. Assuming a 12-week timeline, this means that 10 weeks will be spent on strategy development, data collection, plan designs, plan modeling, finalization and material content—and only two weeks will be spent developing the communication and training documents needed to roll out the plan to the sales force. 

Read More

Topics: sales compensation, ZS Associates, ZS, Chad Albrecht, communication, Rollout

Motivating Beyond Money

Posted by Amol Joshi on Fri, Oct, 23, 2015

As father of a four-year-old toddler, I am always exposed to the world of incentives, even when I am not at work on sales force compensation. “Clean up your toys and I will get you some ice cream.” “Stop jumping on the sofa and I will show you another episode of Caillou” (a popular Canadian show about a toddler’s life).  As you can imagine, I am always very eager to learn more about the world of incentives, what motivates us and what drives engagement (and sometimes discipline!),

Read More

Topics: sales compensation, ZS Associates, motivation, ZS, Acknowledgement, Amol Joshi, Dan Ariely

Why Promoting That Great Rep to Manager May Be a Mistake

Posted by Steve Marley on Thu, Oct, 15, 2015

The NHL hockey season is starting and, as a native Canadian living in Chicago (a hockey hotbed and the home of the current Stanley Cup champions, respectively), I believe—as many do—that the greatest hockey player ever was Wayne Gretzky. However, as a head coach of the Arizona Coyotes, Gretzky’s record was a modest 143 wins, 161 losses and 24 ties, for a 47.3% winning percentage. And Gretzky is not alone in this respect: many superstar athletes go on to coach teams, and the results are mixed. Clearly, excelling in the performance of a chosen sport does not mean one will excel in the coaching of that same sport. Of course, some former players do make successful coaches, and some “career” coaches are not successful, so there is no set formula for success.

Read More

Topics: sales compensation, ZS Associates, ZS, Steve Marley, sales reps, Hockey, Promotion, Wayne Gretzky, Sales Manager

Click here to subscribe to The Carrot

Subscribe by Email

Search by Topic

see all