Dear Seniors,
I need a variable pay policy for the marketing department. Along with that, I need an appraisal form based on technical competencies for the marketing department. It should consist of the desired and actuals... It's really very urgent. Looking for support from seniors....
Regards, Shreyashee
From India, Calcutta
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I need a variable pay policy for the marketing department. Along with that, I need an appraisal form based on technical competencies for the marketing department. It should consist of the desired and actuals... It's really very urgent. Looking for support from seniors....
Regards, Shreyashee
From India, Calcutta
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Dear all,
I have a couple of questions regarding the Variable Pay (Performance Bonus).
1. What are all the parameters based on which organizations calculate Variable Pay (Performance Bonus)?
2. When do organizations give the Variable Pay (Performance Bonus) i.e., Monthly or Quarterly?
Kindly provide me with your valuable suggestions on the same.
Awaiting your quick response.
From India, Calcutta
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I have a couple of questions regarding the Variable Pay (Performance Bonus).
1. What are all the parameters based on which organizations calculate Variable Pay (Performance Bonus)?
2. When do organizations give the Variable Pay (Performance Bonus) i.e., Monthly or Quarterly?
Kindly provide me with your valuable suggestions on the same.
Awaiting your quick response.
From India, Calcutta
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Tying compensation to performance varies in different situations.
For example, in situation 1: there was a salesperson with 10 years of experience who was not willing to undertake training of juniors, lead a team, or generate new business. In this case, the Key Performance Indicators (KPIs) need to address the organization's need for a capable leader at the top. The options are either to hire someone externally or to develop the capacity of an internal candidate.
Other KPIs for this individual could include analyzing if the organization spent $10 million on a product/service category last year but only received $0.1 million in business. Identifying unserved segments and strategizing on how to improve this market share could be crucial.
For a newcomer, KPIs could revolve around metrics such as the number of sales calls, proposals, or visits made. However, if the same newcomer lacks integrity and fabricates visits, a reliable indicator could be the number of visits/calls per closed sale.
Another scenario is when salespeople tend to boast excessively. If you ask the entire team to identify the "top 10 opportunities" for the next 3 months, there might be a tendency to undermine each other, resulting in a final list devoid of any bragging.
I have corrected the spelling, grammar, and paragraph formatting in your text. If you have any further questions or need additional assistance, feel free to ask.
From India, Delhi
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45For example, in situation 1: there was a salesperson with 10 years of experience who was not willing to undertake training of juniors, lead a team, or generate new business. In this case, the Key Performance Indicators (KPIs) need to address the organization's need for a capable leader at the top. The options are either to hire someone externally or to develop the capacity of an internal candidate.
Other KPIs for this individual could include analyzing if the organization spent $10 million on a product/service category last year but only received $0.1 million in business. Identifying unserved segments and strategizing on how to improve this market share could be crucial.
For a newcomer, KPIs could revolve around metrics such as the number of sales calls, proposals, or visits made. However, if the same newcomer lacks integrity and fabricates visits, a reliable indicator could be the number of visits/calls per closed sale.
Another scenario is when salespeople tend to boast excessively. If you ask the entire team to identify the "top 10 opportunities" for the next 3 months, there might be a tendency to undermine each other, resulting in a final list devoid of any bragging.
I have corrected the spelling, grammar, and paragraph formatting in your text. If you have any further questions or need additional assistance, feel free to ask.
From India, Delhi
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