StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

Sales Force Compensation - Research Paper Example

Comments (0) Cite this document
Summary
For most of the organizations, compensation plan is the main driving force for motivating the entire sales force as they are the key people interacting with the customers on a regular basis. According to Skiera and Albers (2008), the total rewards approach comprises of all the…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER93% of users find it useful
Sales Force Compensation
Read TextPreview

Extract of sample "Sales Force Compensation"

Download file to see previous pages ch is to accelerate desired behaviors in the entire workforce along with the reinforcement of the overall business strategy that will boost the firm’s performance (Mia & Evans, 2007).
Unilever ensures that its total rewards program is supportive to achieve the desired targets of the company and the Human Resource (HR) professionals of the company have ensured that it possesses six features that are vital for the effectiveness of this program (WorldatWork, 2007). The main features of the total rewards approach are as follows:
1. Compensation – It is the most important part of the entire program as it is the basic pay structure that comprises of both fixed and variable pays along with the long-term and short-term incentives. The fixed amount is the base salary which remains constant for every salesperson and the variable pay is dependent on the method used i.e. commission, pay-for-performance, piece-rate pay, time-rate pay and others. The other incentives comprise of bonuses, profit-sharing, ownership share and etc.
3. Benefits – These are the factors that the employees are looking for in their jobs in addition to the monetary payment that they receive such as medical benefits, life insurance benefits, social security, unemployment and etc. These other benefits are valued highly by the employees and at times employees may not opt for jobs that do not provide such benefits.
4. Rewards and Recognition – When employees achieve something highly desirable or challenging, they need to be shown the appreciation either by giving them rewards in the form of bonuses, profit sharing, share ownership or announcing the success within the organization to declare the person’s valuable contribution in the company.
5. Work-life balance – The employees have to be provided support in maintaining adequate balance between the work, personal life and community responsibilities. They can be provided with financial support, paid and unpaid vacations, caring for dependents ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Sales Force Compensation Research Paper Example | Topics and Well Written Essays - 1250 words”, n.d.)
Sales Force Compensation Research Paper Example | Topics and Well Written Essays - 1250 words. Retrieved from https://studentshare.org/miscellaneous/1613626-sales-force-compensation
(Sales Force Compensation Research Paper Example | Topics and Well Written Essays - 1250 Words)
Sales Force Compensation Research Paper Example | Topics and Well Written Essays - 1250 Words. https://studentshare.org/miscellaneous/1613626-sales-force-compensation.
“Sales Force Compensation Research Paper Example | Topics and Well Written Essays - 1250 Words”, n.d. https://studentshare.org/miscellaneous/1613626-sales-force-compensation.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Sales Force Compensation

Sales Force Compensation

...? Total Rewards Compensation Plans for Sales Force of Avon Products, Inc. Selling is not an easy task and many sales personnel will agree to this. The company needs to establish proper motivation programs in order to avoid losing salespeople now and in the future. A total reward strategy is important in such cases if the management has to succeed in helping sales people stay on course and deliver organizational objectives. Avon Products, Inc. is one of those companies that engage in selling. It is located in New York City in the US. The company deals in beauty, fashion Jewelry and apparel. It has one of the largest salespeople in the world approximated at...
5 Pages(1250 words)Assignment

Accelerating Sales Force

...? Accelerating Sales Force Business, Essay user [Pick the Sales force is regarded as the most important and cardinal part of companies, organizations, shops and any business in the emerging cooperate world of today. The efforts of the sales force are of paramount and colossal importance because this factor eventually decides where the company stands in the economic and financial perspective. The sales force must be hired keeping in view the organizational needs and contextual backgrounds of the business in order to get the most out of it. Unprofessionally hired, oversized, undersized or uneducated sales forces will cast augmented detrimental effects on any business because the presentation of the product is decisive when it comes... to the...
4 Pages(1000 words)Essay

Benefits of Employing Sales Force

...Benefits of Employing Sales Force 2.0 Introduction Strategic management is a vital role in the implementation of any company goals. Companies chasing either corporate or business strategies are at a decision to make it possible for all the strategies to succeed. The strategies may be aimed at either local or international expansion. Saxon Plumbing Services London Ltd (SPSL), a company that is under the directorship of Peter and Harvey brothers would like to implement a strategy by moving its operation offices in the Manchester city northern region from the traditional south London area. This report therefore analyses some of the strategic plans in place to implement the same. In view of this, the report will analyse sales force... with...
13 Pages(3250 words)Essay

Sales Force Compensation

...Sales Force Compensation Abstract Observing the provision of a total rewards program has been the centerpiece of organizational success. Total rewards program places the interests, welfare and progress of the employee and the working environment, yet the employee and the nature of work environment are the most potent catalysts in the attainment of performance target, since the total rewards program is the glue that sticks talent and an organization to each other. Thus, the applicability of observing total rewards program is the fulcrum upon which the attainment of successful netting in of skilled salespersons (like all other employees) can be realized, vis-à-vis, Nike Inc....
5 Pages(1250 words)Term Paper

Sales Force Automation

...Sales Force Automation Introduction: In a continuously changing business environment it has become challenge for businesses to train and equip their sales staff according to the changing needs. In order to respond to these challenges the marketing gurus have implemented many techniques & tools in order to keep up the pace with the volatile nature of business. A sales force automation program is one of the tools being implemented all over the world in companies who want to have cutting edge in their business. In order to under stand wholly the benefits of the sales force automation, it is important to understand what sales force automation actually is. As explained at trai.org “Sales force automation refers to automating all... the...
8 Pages(2000 words)Essay

Career sales force

...and skills to make customers in the field they are working for. Disadvantages The individual agent has to pay his/her own business expenses as they are working temporary for that concerned organization and they are actually hired by some other organization. Possibility of data leakage as more than one organization is being catered. They could be working for more than one company, which mean distribution of resources. Some agents may have favorites, which may affect the work. Independent sales force is expensive as they are working on a project basis. 2. What are the advantages and disadvantages of commission-only compensation versus salary-only compensation The...
3 Pages(750 words)Essay

Sales Force Decision Sequence

...are taken at the mid level and bottom level. The ‘corporate strategy’ and ‘go to market strategy’ are taken at the level 1 by the top management. These level 1 decisions are not under the control of the sales force whereas the level 2 & 3 are controlled by the actual sales force. The level 2 and 3 decisions will be taken by the sales force as per the needs of the level 1 decision. Customer retention and attraction process, size and structure and product & market resource development decisions are taken at the level 2 whereas compensation, hiring, training, sales manager, productivity enhancement decision...
2 Pages(500 words)Essay

Primus Sales Force Case Study

...Primus Sales Force Survey CMN 6910 Testing Communication Quality DR. Carl Zangerl Northeastern (College of Professional Studies) and State: Date: Primus Sales Force Survey Quality of the Survey Questions a) Phrasing The use of surveys is one of the strategies employed in qualitative researches. Its advantage, according to Beck (2003), is that it collects very specific information segments that can later be generalized. If some quantification is added to a survey study then its analytical rigor is greatly enhanced while keeping the research fundamentally qualitative (Caulley, 2007). The most important stage in a survey study is determining what questions to ask in order...
6 Pages(1500 words)Case Study

Sales Force Compensation: Frito Lay Company

... Sales Force Compensation: Frito Lay Company One of the key reasons that made Frito Lay focus on sales results, as a key indicator for job performance for route sales representatives is that since the company paid the employees on a commission basis depending on the number of snacks they sold, it was an adequate motivation for the employees to try to maximise their sales. Some of the features of the sales job that made it appropriate for a results based approach to job performance are that the number of sales that the employees make determines the amount of profits that the company will make. Secondly is that the payment mode of the job is on a commission basis depending on the number of sales that an individual makes. One... . The sixth...
6 Pages(1500 words)Research Paper

Sales Force Compensation

...HUMAN RESOURCE Number: Paper: Table of Contents Motivation through Total Rewards 3 Behaviors Targeted 4 Assessment of Value Proposition 6 Assessment of Attractiveness 6 References 8 Motivation through Total Rewards A good compensation plan is considered to be a very effective motivating factor for the sales force of an organization. An effective compensation plan aims to attain, retain and motivate competent sales force. It also encourages the sales people to be more competitive and energetic, yet economical. Moreover, it controls their activities and help to adapt themselves to the changes that takes place in the organization, related to products, markets and the overall business scenario (Chingos 2002). This study will evaluate... ...
5 Pages(1250 words)Coursework
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Research Paper on topic Sales Force Compensation for FREE!

Contact Us