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Unit 3 - Compensation Plan and Leading - Coggle Diagram
Unit 3 - Compensation Plan and Leading
Objectives
Company
attract, retain, and motivate
control salespeople’s activities
competitive, yet economical
flexible to adapt
Employee
Simple
Fair Payment
Designing Compensation
Examine job descriptions
Set specific objectives for salespeople
Determine levels of pay/compensation
Develop the compensation mix
Types
Straight salary
Straight commission
Combination
1) Salary plus commission: Enhances sales and service.
2) Salary plus bonus: Rewards short-term team goals.
3) Salary plus commission plus bonus: Ideal for sales and seasonal products.
4) Commission plus bonus: Less popular for team selling.
5.Decide indirect payment plan/fringe benefits
Pretest, administer, and evaluate the plan
Leadership Styles
Transactional
Transformational
Situational
Leadership Skills
Communication
Problem-solving
interpersonal
Supervising
Direct Methods
• Telecommunications
• Personal contacts
• Coaching / Mentoring
• Sales meetings
Indirect Mothods
• Sales reports
• Compensation plan
• Expense accounts
• Sales analysis