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
An Easier, Safer Path for Sales Performance ManagementOverview
Sales Performance Management for Your Industry. Yes, Yours.Overview
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Why management should help forge clear career paths for millennials
By Sathee Brent,
Whether millennials are just getting started in the workforce or are already seasoned professionals in the sales industry, managers still have plenty to teach these younger workers. As part of the sales performance management process for millennials, employers should consider how they will develop the skills and knowledge of these workers. Not only does careful skills development management help improve the company's competitiveness and prepare its workforce for the long-haul, employees are more likely to leave office satisfied.
The Society for Human Resource Management highlighted in its latest employee engagement report that compensation and pay overall was the leading contributor of worker job satisfaction with 6 in 10 employees citing this aspect of the workplace. Although it's no surprise pay is the biggest part of job satisfaction, there are other factors employers should look into to boost productivity and engagement, namely opportunities for professional development and advancement.
Four in 10 workers said they valued chances to move ahead of their career as part of job satisfaction, according to the 2014 Employee Job Satisfaction and Engagement report. Through helping millennials generate the skills they need to succeed in the industry, managers can also coach and prep them for upward movement in their career.
Here are three ways to help millennials with planning their career path:
1. Provide meaningful feedback
As millennials try to navigate the workforce or move up in their career, they will likely ask for comments on the quality of their work and performance.
In an interview with The New York Times, Jeff Lawson, CEO of cloud communications firm Twilio, explained why millennials are the generation that most craves feedback from employers and why his firm doesn't conduct performance reviews just once a year.
"They want to always be learning, always be growing, and they're looking for that constant feedback," Lawson told the Times. "It's not that they're looking for constant praise, but rather they want to keep score. They want to know how they're doing."
Through keeping in close contact with millennials and using sales performance management software, managers can more easily give younger workers the feedback they need to adjust their behavior in the workplace and keep on track with meeting business goals.
2. Coach and mentor based on staff needs
According to the SHRM survey, 36 percent of workers cared about the organization's commitment to professional development, which is also a big factor in job satisfaction for many workers, especially millennials. Managers should consider how they can better coach and mentor young workers to prepare them for career growth.
Another study by professional staffing services firm Addison Group found millennials often wanted their managers to be a part of their professional development. The report showed 36 percent of millennial workers prioritized this more than other generations. However, it's not just millennials who feel strongly about the role managers play in their professional development. About 3 in 10 workers felt the same way in associating their professional growth with working with a manager.
"Millennials need and want in terms of managerial style, rewards and leadership opportunities, the more successful employees can be, not to mention the benefits employers can reap from an employee retention standpoint," the Addison Group report said.
3. Plan salary increases and promotions
As millennials also need a source of motivation to stay on track with their career trajectory, companies should ensure they are providing workers with adequate incentive compensation. Not only do incentives like merit increases engage workers, it can also be used as a way to provide feedback for their work performance, recognizing them for their work. Firms could measure millennial worker performance with sales effectiveness metrics to make more accurate decisions regarding promotions and pay increases.