In the fast-paced world of sales, you have to be quick and nimble. Whether you’re a salesperson perfecting your elevator pitch or a finance leader looking for ways to keep the team motivated, things are always changing.
Two of the most consistent changes that we see in sales are:
Hooray! Your team is expanding! While everybody can’t wait for the new hire to join, there’s usually a stack of paperwork for them to fill out before the fun begins including the all-important commission plan agreement.
Most companies use a Word Doc or PDF that they need to customize with the specific employee details, attach it to an email to send to each team member, and remember to follow up each week to make sure everyone’s approved the agreement. This process is not only manual and time-consuming but also risky for such an important document.
Should we use a 60 or 90-day clawback? Can we implement a SPIFF this quarter? Commission plans are always changing to help companies optimize team performance while maximizing the bottom line. This is a great way to keep teams motivated by testing out different incentives.
What’s not great though is sending updated agreements every time a new commission plan comes along. It shouldn’t be a full-time job to update a commission plan but unfortunately, it is for most companies that are sending new agreements manually.
We’ve made it incredibly easy to roll out new commission plan agreements with our Plan Management feature. Customers can revise and release agreements directly in CaptivateIQ and track their progress to get faster approvals.
Plan Management lets admins:
Spend less time creating, sending, and tracking agreements whenever somebody joins the team or a new comp plan is introduced. With CaptivateIQ, you get hours back and your team can start selling sooner!