You also want to consider using benefits-team-based pay

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Reference no: EM132089328

MY COMPANY IS ORACLE FOR THIS QUESTION;

You will determine how to pay your sales representatives! The old conceptualization of 'compensation and benefits' was fine for the 1950's. 21st century sales managers need to utilize a Total Rewards program. Salespeople want more than money or a retirement program; they want a work-life balance and opportunities for career and personal development. Employers that can offer such programs can have a competitive advantage over other employers if they can provide them.

Sales representatives work well with goals in mind to meet their commission or a type of reward when quota is met. Create a 2-3 pag sales commission structure (you may use lectures or outside resources for additional help) and decide if you are going to use a progressive plan that increases the percentage of a commission that a representative may receive with each additional sale. Another way could be a regressive plan that decreases the percentage of a commission that a representative may receive with each additional sale.

1) You also want to consider using benefits, team-based pay, a bonus structure or some combination of these.

2) Consider the company as a whole and how developing this structure should reflect the company mission and management style.

Reference no: EM132089328

Questions Cloud

Do you always shop at the same place for clothes : Do you always shop at the same place for clothes? How loyal are you to one store, one product, one restaurant? Why?

Delays other functions and contributes to turnover : The hiring process has become so difficult for all parties that delays other functions and contributes to turnover. What do you suggest to help fix these issues

Outline your team plan to adequately measure : Outline your team's plan to adequately measure, record and report identified risk areas.

Explain why shortage might be present at store : Explain why a shortage might be present at a store and how a manager be able to solve for this problem.

You also want to consider using benefits-team-based pay : You also want to consider using benefits, team-based pay, a bonus structure or some combination of these.

Employees for their input via survey or company meeting : One of the ways to figure out what benefits employees want and need is to ask the employees for their input via survey or company meeting.

Amount in the purchase of benefit options : As previously noted employees are allotted a fixed amount of money and permitted to spend that amount in the purchase of benefit options.

Facility-level costs should not be allocated to products : Facility-level costs should not be allocated to products because they are irrelevant for decision-making purposes.

What were the current circumstances in the industry : Next include a summary of the issue (e.g. What is the issue? What may have caused it? What were the current circumstances in the industry?

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