(847) 236-1208

Salary Planning for 2019

September 18, 2018  |   Compensation,Uncategorized   |     |   Comments Off on Salary Planning for 2019

Salary increase budgets appear to be finally passing the 3% mark as companies compete for talent in an ever-tightening labor market, according to several salary surveys. Even so, the forecast still calls for relatively modest increases, as companies focus on the overall Employee Value Proposition. The projected total salary budget increase for 2019 is around 3.1% for Non-exempt employees and 3.2% for Exempt salaried and Officers/Executives. In 2018 ...

Read More →

Fairness and Equity in Rewards

August 21, 2018  |   Compensation,Uncategorized   |     |   Comments Off on Fairness and Equity in Rewards

Organizations must ensure that rewards programs are rooted in principles of fairness in order to motivate and engage employees from different backgrounds and experiences. WorldatWork and Dow Scott, Ph.D., of Loyola University Chicago, gathered data about organizations’ perceptions of fair rewards and the tools rewards professionals use to create reward programs, policies and structures. An executive summary of their findings is as follows: • Promotional opportunities lead among employee ...

Read More →

“Keeping Top Sales People Won’t Cost You a Thing”

June 26, 2018  |   Employee Retention,Uncategorized   |     |   Comments Off on “Keeping Top Sales People Won’t Cost You a Thing”

If you haven’t heard, sales jobs are a buyer’s market. With national unemployment at historically low levels, qualified candidates, especially top sales people, have many choices for where to work. In the past, the negotiation for hiring and retaining a top sales person came down to money -- either in the form of bonuses, higher commission rates, lower quotas or salary increases. However, research shows that to ...

Read More →

Key Success Factors to Gaining C-Suite Buy-In for New Sales Compensation Plans

May 30, 2018  |   Compensation,Uncategorized   |     |   Comments Off on Key Success Factors to Gaining C-Suite Buy-In for New Sales Compensation Plans

Gaining C-Suite buy-in to new sales compensation plans is one of the last steps before implementing new plans. However, we would first recommend to “begin with the end in mind,” as Stephen Covey recommends in 7 Habits of Highly Effective People. It’s not just the preparation for that final approval meeting that is important. The approach you take from the very beginning of the sales compensation project is ...

Read More →

The Role of the Sales Manager: What Role Does Your Sales Management Team Play in the Sales Compensation Arena?

April 24, 2018  |   Compensation,Uncategorized   |     |   Comments Off on The Role of the Sales Manager: What Role Does Your Sales Management Team Play in the Sales Compensation Arena?

• Are they a part of the sales incentive design team? • Do they take ownership of the sales incentive plan? • Do they own the communication of the sales incentive plan to their team? • Do they understand the pay mix and the associated base salary ranges for their direct reports? Most companies don’t answer yes to all of these questions. The question we ask is why not? Many sales ...

Read More →