Smarter targets and incentive management delivered by CSL
One of the most important parts of any Reward & Recognition scheme is the sales targets. Getting this right will motivate your sales representatives and regional managers, ensure you reward the right people, and of course maximise your national sales performance.
CSL’s approach is to review your brand position and available data. We then recommend the best algorithms to fairly and transparently produce your sub national targets.
We work with you along the way, listening to your input, and sharing our expertise.
Incentive schemes for sales staff affect everyone in your organisation and can have a profound impact on motivation and results. The impact of a bad incentive scheme can be profound; it can cost hundreds of thousands of pounds in lost sales, increase your recruitment costs (as people leave), and generally demotivate your remaining sales people.
Setting up a scheme to reward your sales staff is one challenge. Monitoring that scheme and ensuring it provides the right balance of motivation and job satisfaction is another. Chances are there will be elements of your scheme that are working well, while others are not adding value and may even be counter-productive.
But how do you assess the available data and tease out the elements that need adjusting? There are so many factors at play, such as market trends, the life cycle of your product, and current brand priorities. Incentive Compensation Management (ICM) is a challenging and demanding discipline that incorporates many types of data - but it’s a challenge we relish here at CSL. Our powerful, multi-factorial solutions will improve your incentive schemes, boost staff morale and drive commercial success.
Initial review of current plans. This is likely to involve an anonymous questionnaire to current staff, interviews with current high/medium/low beneficiaries and analysis of payments.
Development of new components. These will be sales focused, with decisions to be made over whether incentives are relative or absolute, and whether they are capped or uncapped.
Validate using historic data. We check how this year’s payments would look under the new proposed scheme.
Ensure sales team buy-in. Communicating the scheme effectively is essential – we can help devise graphics for in-house presentations.
We can provide occasional support or a fully-managed service – whatever is needed
We’ll run workshops and discussion meetings as part of the review and design process
Choose how the solution is delivered – as a bespoke website, via existing systems, or simply in an Excel spreadsheet
We bring ideas as well as technology to the table, ensuring you have a bespoke solution
Agile, responsive approach built on personal relationships with talented consultants