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Assessing the Impact of the Illinois Minimum Wage Change on Your Company

May 21, 2019  |   Compensation,Uncategorized   |     |   Comments Off on Assessing the Impact of the Illinois Minimum Wage Change on Your Company

Effective Dates of the Changes The following table shows the effective dates of the changes to the Illinois minimum wage regulations: Under terms of the bill, the wage would rise $1.00 to $9.25 per hour on January 1, 2020, and another 75¢ on July 1, 2020. Every January 1st thereafter the wage would rise another $1.00 ...

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Sales Compensation Implications in Mergers and Acquisitions

April 23, 2019  |   Compensation,Uncategorized   |     |   Comments Off on Sales Compensation Implications in Mergers and Acquisitions

Mergers and acquisitions (M&A) come with a lot of questions and uncertainty. Two different approaches to manage sales compensation in terms of design and execution, not to mention different CRMs and ERPs...yes, this won’t be easy. It’s a daunting task to think about how you’re going to figure out the best way to manage sales compensation going forward. Do you keep everything the same for the legacy ...

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Sales Compensation Program

March 12, 2019  |   Compensation,Uncategorized   |     |   Comments Off on Sales Compensation Program

It’s important that a Sales Compensation Program has Plan Provisions to guide the administration of the Plan. The following are highlights of what those should be. Goals and Plan Principles It’s important to establish what the primary goals of the Plan are and the principles of the Plan as to how the Plan will be operationalized. For example: the Plan should be fair and equitable to the individuals covered ...

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How Do You Define a Compensation Philosophy?

January 22, 2019  |   Compensation,Uncategorized   |     |   Comments Off on How Do You Define a Compensation Philosophy?

Here are some elements your organization should include in its Compensation Philosophy. Describe what your philosophy is intended to do. For example: • Our Company designs its programs to challenge participants as well as reward them for superior performance for our Company and our stockholders. We believe that our compensation program must: - Align employees’ interests with those of our stockholders by including a portion of their total pay that ...

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Is it Time to Introduce Profit Margin in Your Sales Incentive Plan?

November 28, 2018  |   Sales Incentives,Uncategorized   |     |   Comments Off on Is it Time to Introduce Profit Margin in Your Sales Incentive Plan?

The answer to this question is unique to every organization. A sales incentive plan based on profitability is not the solution for all companies and needs to be supported by the overall corporate strategy. Here are a few questions to consider as you further explore whether it’s the right time to introduce Margin as a metric into your sales incentive plan: What is your organization’s strategy? - If you introduce profitability ...

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