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Apply Branding Techniques to Sales Compensation to Create a Competitive Talent Advantage
Increasingly, companies recognize that employer branding is an important source of competitive advantage. Presenting a compelling story about a company as a great place to work is a critical tool in attracting and retaining the quality of talent required to sustain market leadership. We believe that employer branding can be extended to how a company designs, implements and manages its sales compensation plans to help achieve sales force talent goals.
A common sale compensation brand is defined by the processes and characteristics used to align it with a company’s total reward philosophy for its sales force(s). If your company is interested in moving beyond an “apple pie/motherhood” statement of sales compensation philosophy into the realm of how to best use sales compensation as true competitive advantage to win and retain the right sales talent, then you would benefit from an understanding of:
- The five internal factors that directly contribute to a company’s sales compensation brand
- The principal external factor that should be considered
- The four phases of a typical sales compensation branding project and how each phase is executed
- The seven major benefits an effectively executed sales compensation brand provides to a company and its sales force
To gain this understanding, we refer you to our article in WorldatWork’s Sales Compensation Focus, “Boost the Value of Your Sales Compensation Plan: The Power of Branding”. Ideally, it will provide you with a good start point to your efforts to help your company build and sustain a sales compensation brand.