Determining appropriate financial compensation levels

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Reference no: EM132189366

Compensation Design

Ashley Dillon, sales manager for PayWell, an automated payroll processing company, is attempting to foster teamwork in her salesforce. In particular, new salespeople often struggle to establish a customer base, and many leave their jobs during their first year of employment. PayWell compensates its sales trainees on a salary basis for three months, after which they are switched to a straight commission basis. Ashley knows that her successful senior salespeople could provide guidance to the younger salespeople, but the senior salespeople are reluctant to spend time on anything but selling.

As one of the senior representatives told Ashley, “I would like to help the rookies out, but if I am not in front of customers, my commissions will drop.”

How can Ashley accommodate both rookie and senior salespeople to improve overall salesforce effectiveness? Write a recommendation to the Regional sales manager in 1 to 2 pages consider the following points:

FINANCIAL COMPENSATION

Straight Salary

Advantages of Salary Plans

Disadvantages of salary Plans

Straight Commission

Commission Plan Variations

Advantages of Commission Plans

Disadvantages of Commission Plans

Performance Bonuses

Advantages of Performance Bonuses

Disadvantages of Performance Bonuses

Combination Plans (Salary plus Incentive)

Advantages of Combination Plans

Disadvantages of Combination Plans

Determining Appropriate Financial Compensation Levels

Reference no: EM132189366

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