In-depth sales incentive plan fairness and effectiveness audit tool to perform a periodic assessment of sales incentive plans performance using descriptive summary statistics, comparisons to standard industry benchmarks, and visualizations. Includes performance bias analysis, geospatial analysis, weight balance analysis, outlier analysis, and top performer performance analysis.
You cannot always expect things to remain the same in a highly competitive market. In addition to the market dynamics, a change in your selling techniques or company structure could end up leaving your salesforce engagement and incentive program ineffective and inefficient.
Therefore, undergoing a periodic health check using an incentive tracker could help you understand how well your incentive compensation plan is working. You need to know whether you’re on the right track or you must make any course corrections to ensure that your incentive plan continues to motivate and engage your salespeople.
With a robust automation tool, you will be able to regularly analyze your sales compensation plans to make sure they’re aligned with your organizational goals and performance, keeping your salesforce motivated. You can evaluate the performance of your sales incentive plans with the help of descriptive summary of your incentive plan performance and comparing standard performance metrics with industry benchmarks.
It is no news that organizations must keep checking whether their incentive programs are working and rectifying them when they aren’t. Here are a few ways you can understand if your salesforce engagement and incentive program is failing strategically –
Because automation reduces errors of a manual system to provide greater accuracy, more companies are turning towards automation. By choosing an automated health incentive tracker, you will be able to regularly assess sales incentive plan performance with the help of visualizations, comparisons to standard industry benchmarks, and descriptive summary statistics.
You can do everything from performance bias analysis, outlier analysis, top performer performance analysis to geospatial analysis using an automated IC Health Tracker. The focus will be more on analyzing the performance and getting to insights rather than manually struggling to calculate statistical metrics and deriving performance charts.
When you look at it from a macro perspective, you’d realize that investing in an automated tool would be a long-term investment that is bound to pay high dividends in the years to come. This will allow you to assess your incentive plans on an ongoing basis and be ahead of the curve.
That being said, paying close attention to the automation tool you use for your IC health check is also essential. Your goal should be to go for an IC health tracker that comes with minimum complexity with several business-friendly features and allows you to track regional performance biases, identify plan fairness issues and analyze top performances easily.
If you want to stay ahead of your competitors, your key is to invest in a sound IC health tracker that evaluates your incentive plans periodically and accurately. At Aurochs, we offer a state-of-the-art IC Health Tracking tool that can revolutionize your incentive compensation process. From analyzing sales workforce engagement indexes to integrating geospatial visualizations, you can expect our IC health tracker to do it all. If you wish to learn more about our IC health tracker, feel free to reach out to us.
Automate your incentives in 6 weeks.