Compensation Plan
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- Date Submitted: 11/01/2010 04:05 PM
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Compensation Plan
The Compensation Plan is the method by which Distributors are compensated for their retail sales and personal purchases of the Product, as well as the retail sales and personal purchases of the Product by their Downline Organizations. It also compensates them for the support and training they provide the Distributors in their Downline Organizations. The Compensation Plan is part of the Contract between the Company and its Distributors. (xango).
I will be explaining the new compensation plan for the new sales team, also I will explain why I believe that this pay system will work, describe three components of a total rewards package that would motivate employees to reach peak performance and describe the new sales department compensation plan’s benefits to the individual as well as to the company. This compensation plan created especially for the new sales team will include direct and indirect rewards. The salary will depend on what position and what experience the employee has.
The positions are from Outside Sales Representative to the Vice-President of Sales. There is going to be three outside sales representatives who will be offered a starting salary of $35,000 and commission. The Sales Manager will have a salary of $45,000 and will not have any commissions on sales by their representatives. The only way to earn Commissions is through the sale of Products. The Vice-President of Sales will be salaried for $60,000. A team bonus pay system will be implemented yearly for employees on the team. The bonus system will range from an additional 3% to 5% increase in pay. Salary could change depending on job performance and appraisals.
Why it would work?
I believe this plan will work since it motivates the employee to perform at their highest level. The compensations are attractive for anyone and I think they are competitive numbers compared to other companies. Our new sales team feels motivated by our new goals and objectives that they are...
The Compensation Plan is the method by which Distributors are compensated for their retail sales and personal purchases of the Product, as well as the retail sales and personal purchases of the Product by their Downline Organizations. It also compensates them for the support and training they provide the Distributors in their Downline Organizations. The Compensation Plan is part of the Contract between the Company and its Distributors. (xango).
I will be explaining the new compensation plan for the new sales team, also I will explain why I believe that this pay system will work, describe three components of a total rewards package that would motivate employees to reach peak performance and describe the new sales department compensation plan’s benefits to the individual as well as to the company. This compensation plan created especially for the new sales team will include direct and indirect rewards. The salary will depend on what position and what experience the employee has.
The positions are from Outside Sales Representative to the Vice-President of Sales. There is going to be three outside sales representatives who will be offered a starting salary of $35,000 and commission. The Sales Manager will have a salary of $45,000 and will not have any commissions on sales by their representatives. The only way to earn Commissions is through the sale of Products. The Vice-President of Sales will be salaried for $60,000. A team bonus pay system will be implemented yearly for employees on the team. The bonus system will range from an additional 3% to 5% increase in pay. Salary could change depending on job performance and appraisals.
Why it would work?
I believe this plan will work since it motivates the employee to perform at their highest level. The compensations are attractive for anyone and I think they are competitive numbers compared to other companies. Our new sales team feels motivated by our new goals and objectives that they are...