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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How to effectively manage millennial sales reps
By Laura Toberman,
If your sales team isn't already filled with millennials, chances are it will be soon. Millennials, the largest generation in world history, have officially entered early adulthood and are flooding the global work force. Millennial work habits vastly differ from other generations, and as a result, millennial salespeople thrive under unique management strategies that have not been necessary in the past. The oldest millennials have already reached 35 years old, so if you haven't begun to understand the best tactics by which to manage them, now is certainly the time to do so.
1. Help millennials understand why the products they're selling matter
Sales Drive explained that millennials are very concerned with social impact. They don't want to feel like they are wasting their time, but rather that they're using it to better society in some way. Managers that effectively communicate how the product their team sells positively effects clients will be more successful at motivating millennials.
2. Provide consistent feedback and communication
Millennials are enthusiastic about learning, according to Entrepreneur. They will be receptive to constant training sessions that teach them new and improved strategies. They also crave consistent feedback from managers. The millennial generation is known for its love of receiving praise for a job well done. Sales managers can capitalize on this quality by publicly acknowledging the success of their millennial sales reps. Doing so will motivate other team members to work harder to receive that same praise, and it will also motivate high performers to keep working hard.
3. Motivate millennials to improve sales with commission software
As emphasized above, millennials thrive through feedback from managers and good communication. Sales compensation management software is one way to open the lines of communication for millennial sales reps. This software keeps millennials motivated by giving them transparency to their sales compensation. It provides them with accurate sales compensation statements, so they are never left wondering what their commission will be at the end of the month or quarter. This software helps drive millennial sales performance by giving transparency and accuracy to sales commissions. According to Sales & Marketing Management, millennials are extremely data driven. They have grown up in a technology-centered world and appreciate that data allows them to accurately measure their strengths and weaknesses. Compensation management software is a great tool to give millennials accurate KPI and compensation information.
4. Manage millennial expectations
Entrepreneur explained that millennials are accustomed to instant gratification. They have trouble understanding that growth, improvement and promotions take time. Helping them understand this from the start will increase your retention rate and prevent morale from getting too low.
5. Allow them to manage their own time
Millennials have no interest in a 9-to-5 work day that is focused more on time spent at their desks than quality of work completed. Entrepreneur urged sales managers to create daily or weekly goals and let millennials figure out how to get their work done in whatever manner they please.