Learn how compensation should be used to drive a competitive advantage in organisations. The right commission plan can help attract and retain top talent and it is the most critical factor in driving sales behaviours. It is important to look into the commission data across companies and industries to benchmark what the optimal pay mix should be in order to drive the right behaviours.
In this guide, you will discover:
:: How to use sales data to create a strong pay mix
:: Real-life examples of successful sales pay mix
:: Industry-specific pay mixes
The Nationwide Building Society is a "values driven organisation", which identifies "employee importance" as one of its core values. A need for increased employee flexibility, improved skill acquisition and reward programmes better aligned with strategic business objectives led Nationwide to adopt job families and construct a new pay system around them.
Its next step was to place increasing emphasis on the total reward package, with flexible benefits, personalised pay and benefits statements, a fair and flexible working environment and enhanced learning and development opportunities. High employee satisfaction scores suggest that these changes have been successful.
For more details see our review, published in the 'News' section of e-reward.co.uk, 27 June 2002.