Create compensation plans that drive sales and strategic goals. Iconixx supports any combination of pay components, rules, calculations, aggregations, and sequencing with ease.
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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
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Sales Performance Management for Your Industry. Yes, Yours.Overview
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How much is lost productivity hurting your bottom line?
By Carolyn Jenkins,
When workers spend too long on a sales call or are distracted by their friends' social media posts at work, employers can lose money because of lost productivity. Workers who are not engaged or are managed poorly may also cost the company and impact its bottom line. Employers should be cognizant of the potential losses they may face if they do not effectively track worker performance and correct signs of unproductive behavior.
Causes of lost productivity
Although employers may not be aware of the costs of lost productivity, there are multiple factors that go into these kinds of financial losses. For example, injuries or illnesses can affect companies' bottom lines because of absenteeism, Workforce reported. However, these absences may be hard to quantify into financial losses.
"There are so many pieces of the puzzle that very few companies have a really good handle on what the actual total costs to the organization are due to absence in the workplace with all those categories of time off," said Charles Fox, executive director for the Disability Management Employer Coalition, according to Workforce. "However, I think that intuitively they all know that it is significant, and it is a humongous number."
Workers, especially the company's top performers, who are not present in the workplace may cause their colleagues to take on extra work, which can cause them more stress.
While absenteeism is a big problem for businesses, they should also be cautious of another major issue: presenteeism, Workforce reported. Employees who are not engaged with their job may come to work, but may not be as productive as their engaged colleagues, which could result in productivity losses. Companies should make sure their workers are engaged through offering incentive compensation that can help give them the drive they need to succeed and be rewarded for hitting their benchmarks.
How to determine productivity losses
Businesses that may want to figure out how much lost productivity is impacting their bottom line could follow suggestions from Harvard Business Review. Time equals money for almost every business. Identifying the causes of where time is spent may help companies determine the cost of productivity losses. Companies could consider measuring the cost of productivity losses through finding errors that result in wasted time, according to Harvard Business Review. Employers may want to review whether employees met their sales quotas and generated revenue for the company or may have made mistakes that could have cost the company both time and money by using sales effectiveness metrics.
How to effectively manage workers for increased performance
While creating an accurate way to measure the cost of lost productivity is difficult, companies may want to implement sales performance management tools that could determine whether workers are being as productive as they could be. By installing this software, employers can monitor employee performance and gain insight on whether they are hitting their sales quotas or not.
These solutions can also help give workers valuable information into their own performance that could help improve productivity. Harvard Business Review supports feedback loops that involve presenting workers with individually tailored reports. These reports are useful because they can be used to pinpoint causes of productivity loss as well as drive the conversation between employers and workers about issues they may have with their job. Conversations about what is bothering them can help workers become more engaged with their job and in turn work harder to meet the company's business objectives.
By investing time into performance reports, companies can also work out whether they need to provide more sales training for employees to help them use their time for efficiently, Business 2 Community suggested. Training is a crucial element to getting workers as productive as possible.
About the author
Carolyn Jenkins leads the Customer Success team in exceeding our customer's expectations by continually fostering a customer-centric culture throughout the entire organization and building true customer advocates that speak to the business value achieved through Iconixx solutions.