“The expectations of employees are changing and businesses need to change with them or risk irrelevancy. It’s more than throwing money at employees, or offering a cafeteria and gym. It’s about understanding what motivates people, being transparent and rewarding them in a way that inspires them to bring their A-game everyday,” – Christopher W. Cabrera, founder, president and CEO, Xactly Corporation.
Jitterbit was a sponsor at least week’s Xactly CompCloud ’14 conference in San Francisco. Our partner, Xactly, put on a great user conference and over the course of three days presented some unique insights about motivating employees — and how business data within your CRM, ERP, and other apps can provide that extra incentive.
- SPIFs – Sales Performance Incentive Funds can be very motivating, but not always in the most beneficial way. SPIFs can cause salespeople to chase smaller buckets, rather than their core incentives. If run for too long, a SPIF program can very detrimentally effect sales of the most important product your company makes! To use a SPIF program effectively, be sure they are “programmatic, used judiciously, short term, infrequent, unpredictable, and relatively low-paying”, according to Christopher Cabrera.
- Make it easy – Define and support workers’ to-do lists and link them to individual and departmental objectives. This makes clear an employee’s job function and goals while allowing them to easily navigate daily objectives, leading to more timely and productive work.
- Provide incentive visibility across applications for easier management – If a manager can see all the areas a worker must touch while doing their job, the manager will have a much easier time appropriately rewarding their employees for a job well done.
While Xactly has some integration to other applications, such as Salesforce, an incentive compensation platform is best used as part of the broader Quote to Cash to Commission process. When a sales rep can easily generate a quote, obtain a customer signature, and see their upcoming commission, their job becomes easier and provides extra motivation for the next deal. Connecting the various applications used across a multitude of industries requires a robust, yet easy to use integration solution for effective QTC management. Custom coding a solution simply will not work due to the complexity of this process. Be sure to consider the entire end-to-end process when selecting your tools to efficiently manage your sales reps’ commission process.
These insights may seem obvious, but until the last few years, the tools to run these processes simply were not available and easy to use. The key takeaway from CompCloud ’14: Adding efficiency to your QTC and incentive compensation process can be easy and extremely powerful with the right tools.