You’ve heard the saying: “The only constant in life is change.” In the world of sales compensation, that couldn’t be more true. In fact, change tends to be on hyper-drive. Technology, globalization, regulations, and demographic changes are dramatically impacting the way companies make money, go to market, sell products, and ultimately, pay their salespeople.
Our progressively digital world is changing the way we buy, the way we sell, and the way we need to think about sales compensation. The sales “territory” of today is now often much more than simply lines drawn on a map. We are selling to the world and the world is selling to us. With global markets comes global complexity.
Recent scandals have also shined a spotlight on the risk within an organization’s sales compensation plan. With aggressive sales behaviors under a stronger microscope, it’s more important than ever for organizations to ensure that sales compensation plans are driving both short-term results and long-term success.
How consumers are purchasing is evolving as well. New generations of purchasers in the marketplace purchase differently and are looking for different types of purchasing options. Those selling the products and services are also modifying sales strategies to encourage long-term recurring revenue as opposed to the traditional one-time purchase. This new paradigm is changing the measures and mechanics of how compensation plans are structured.
So, what’s the best way to stay on top of this constantly changing landscape? When it comes to sales compensation, it is often challenging for professionals within the field to find others like them to learn from. Luckily, WorldatWork has a special event for those in the sales compensation field called Spotlight on Sales Compensation, which will be held from Aug. 21-23 in Chicago. This one-of-a-kind sales comp event will bring hundreds the best and the brightest from around the world to discuss how they deal with challenges such as these, as well as many more. Register now for this event.
I hope to see you there. This event is a great way to learn and connect with others in the sales comp field to get the results you are looking for in your organization.