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Do You Really Understand Your Compensation Plan?By Jay Leisner, Sylvina Consulting - jay@sylvina.comDirect selling compensation plans should be designed to motivate and reward 7 key behaviors. These include
The first step is to understand your current compensation plan and to measure the performance of your sales force in response to it. Then, you should identify your goals and evaluate the results from your compensation plan over time so that you can see clearly what is working for you and the areas in need of positive change. Are the performance results of your sales force in line with industry averages? Better yet, is your company "beating" industry averages? Once you've identified your targets of opportunity, you can proceed to the next step... adjusting your compensation plan to achieve optimum results. Be sure to include a transition plan to introduce the plan changes to your field and to minimize the effects on individual representative compensation. When you encourage and reward properly the 7 key behaviors, the success of your representatives will propel your company forward. We can help you to understand your direct selling compensation plan, to review the results of it, and to design changes to encourage activity, reduce attrition, and grow your company faster. For information on our compensation plan consulting services, contact Jay at Sylvina Consulting at 503.244.8787. Gerald P. Nehra is a private practice Attorney at Law. He is one of only a few attorneys nationwide whose practice is devoted exclusively to direct selling and multilevel marketing legal issues. He began his legal career in 1970, and from 1982 to 1991 he was the Director of the Amway Corporation Legal Division. He can be reached at Nehra & Waak, Attorneys at Law, 1710 Beach Street, Muskegon, Michigan 49441, 231-755-3800. His e-mail address is GNehra@mlmatty.com. You are invited to visit his web site at www.mlmatty.com. Permission to reproduce, with this attribution included, is granted. The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your own situation. |
