Create compensation plans that drive sales and strategic goals. Iconixx supports any combination of pay components, rules, calculations, aggregations, and sequencing with ease.
Guarantee Accurate Commission Payments For Your OrganizationOverview
Crediting and Calculation refers to a series of automatic steps that are initiated by either the user through the calculation page, or as an automatic scheduled process.
Crisp, Meaningful Visualizations for Your Sales, Compensation, and Finance TeamsOverview
Modern operational systems house massive amounts of data, and sales compensation systems are no exception. Decision makers need at-a-glance visibility of meaningful data and trends, enabling them to quickly interpret and act on data.
Optimize Sales Strategies, Reduce Risk with Robust Plan Modeling and ForecastingOverview
Simply design and review plans before releasing. Create plans in your modeling environment to achieve confidence in the actual outcomes. Accurately forecast payout amounts to enable better budgeting.
Iconixx Manages Your Company's Workflow from Assignment to Review and ApprovalOverview
Why Automate Your Workflow Process? Salary and compensation processes extend beyond one department.
Governance and ReportingOverview
Apply standard templates, create ad hoc reports, or use a vast array of analytic tools within your solution to drill deep into sales data. Access data like never before.
Iconixx for Quota ManagementOverview
Iconixx enables companies to simplify quota planning processes with our sales performance management software. Quickly and easily use valuable insights to create accurate and attainable sales quotas that align with your business goals.
Automate, Simplify, and Streamline Incentive Compensation Plans for Peak PerformanceOverview
Iconixx makes it easy to efficiently and clearly create and manage even the most complex structures for discretionary pool bonuses, management-by-objective (MBO) rewards, and noncash payouts and promotions.
Automated Merit and Salary Management That Makes It Easy to Get It RightOverview
Iconixx compensation planning software makes it easy to design, create, and manage customized salary and merit compensation plans that fit your business needs.
Sales Compensation Software by IconixxOverview
An Easier, Safer Path for Sales Performance ManagementOverview
Sales Performance Management for Your Industry. Yes, Yours.Overview
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3 tips for improving employee retention among sales reps
By Brian Thompson,
Training a sales team requires money, time and additional resources. If a business loses employees they must hire replacements for those sales reps as well as pour more money into training new staff.
Keeping a team on board is the key to making the most out of the available resources. Knowing how to keep a sales team loyal to an operation will help improve overall retention.
1. Allow freedom
By providing sales reps with a certain amount of freedom when they work, employers can enhance the overall satisfaction of its staff, according to Entrepreneur.
Giving your sales team control over when, where and how they get the job done can help immensely. The implementation of strict guidelines and regulations won't motivate employees to improve sales productivity. However, flexibility can boost each individual's productivity and attract potential employees as well.
"Businesses should praise top sellers and those who have shown significant improvement."
2. Offer support
According to Canadian Professional Sales Association, offering support and helpful resources to a sales team helps them perform well and improves their experience with an operation. A business should send a survey or ask employees what they would like to see from management.
In addition, businesses should praise top sellers and those who have shown significant improvement. Feeling valued will help encourage sales reps to continue working for the same operation.
3. Proper compensation plans
The Harvard Business Review indicated implementing a thoughtfully considered and developed compensation plan for a sales team will help encourage more sales productivity. Appropriately awarding those who perform at a high level will also keep a business's top employees.
When determining how to motivate sales reps using a compensation plan, managers should consider each group of performers. For example, the core performers typically account for a majority of the entire sales force. Keeping this larger group happy and rewarding strides in performance is key.
A study from the Harvard Business Review demonstrated that low-performing sales reps would likely decrease overall performance if management removed quarterly bonuses and only offered an annual bonus by 10 percent. Core and star salespeople would only decrease performance by 4 percent and 2 percent respectively under the same conditions. With decreased productivity across the board, it is evident providing bonuses on a quarterly basis is one way to successfully compensate sales reps.
While holding a competition with prizes, such as additional money, might initially seem like a good way to motivate a sales force, the core performers will likely fall to the wayside because top sales reps will dominate competitions. Sales executives should consider providing non-monetary prizes for various levels of performers.
The low- and star-performers of a sales team also deserve a compensation plan that motivates them and ensures they feel capable of reaching sales goals relative to their abilities and skills. In some instances social pressure can improve the sales productivity of lower performing sales reps while not putting a limit on rewards would be an appropriate incentive for the highest performing individuals.
With compensation management software an operation can easily implement an operate under a successful compensation plan employees will love.