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We have seen extensive market convergence over the past 2 years… Oracle purchased Siebel, Hyperion and more recently BEA. IBM also purchased many companies including Cognos.
Less than 2 months ago, Callidus Software acquired Compensation Technologies, an incentive compensation consulting company.
Today it’s BSG Alliance who purchased Iconixx. Iconixx was a major competitor of Compensation Technologies and offered consulting services in the areas of sales compensation, variable compensation, and performance management.
BSG Alliance is an Austin Startup who have also purchased several other companies in 2007 and 2008 after securing $20 million in funding.
• Industrial Science, a business simulation frameworks and technology company
• The Concours Group, a strategic consulting company
• Kalivo, a collaboration software company
• New Paradigm (Don Tapscott’s Company), a business innovation group
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Potty training and sales compensation is a blog post in which Matt Asay, father of 3, describes how he used chocolate as an incentive to convince Lily to visit the restroom.
In his post, Matt raises an interesting topic: When does compensating multiple people on the same deal make sense? According to him it makes sense especially early in a company’s life when cooperation is more important that competition. He also mentions that rewarding team effort is more important than rewarding a short-term hit due to excess commission.
I posted articles on the topic of group competition and group rewards here and here. Like I said, it’s a very interesting topic for which there is no clear-cut answer… it really depends on individual situations. It is true that it would seem logical to try to tie an incentive to the person ‘most responsible’ for the sale, but this usually does not reflect reality where multiple people, teams, channel sales people, direct sales people, etc, all collaborate [in harmony].
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Synygy is hosting a free Webcast “Ensuring Alignment of Strategy and Sales Compensation Plans: Assessing the Impact of Strategic Misalignment” on March 5th at 2:00pm EST. I will delay my lunch break by 2 hours to see what I can learn about Wyeth and U.S. Cellular’s experiences and report back.
During this live, interactive panel discussion you will gain insight into:
- how Wyeth and U.S. Cellular assessed the impact of strategic misalignment
- key symptoms indicating lack of alignment of sales compensation plans
- how to assess the impact of misalignment of sales compensation plans steps
to ensure alignment of plans when rolling out new plans or plan changes
- best practices for ensuring alignment of sales compensation plans and
strategy
Panelists:
Mark Bernstein, Senior Director-Sales Planning,Wyeth Pharmaceuticals
Lisa Ziembiec, Manager-Sales Incentive Compensation and Effectiveness, U.S. Cellular
Jeff Evernham, Vice President, Client Services, Synygy
By registering you will be able to download two pretty good papers: “5 Tips for Ensuring Strategic Alignment of Sales Compensation Plans”, and “Diagnosing Your Sales Compensation MAnagement Problems”.
I found the later article a particularly good read. Rather than focusing on strategic alignment and best practices, it takes the other angle of the problems in sales compensation management. The article goes on describing 7 categories of problems resulting in ineffective design, implementation and management of sales compensation plans and their root causes.
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