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5 Fundamental Components of Effective Compensation Plan Communication

Communicating compensation plans to your sales team requires a balance of brevity and specificity that can be difficult to achieve. Below we've outlined 5 fundamental components you should include in all of your compensation plan communications. As a bonus, we've also included a link where you can download this information in a...
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Using Incentive Compensation Analytics to Optimize Retail Bank Referral Programs

In an era of rising retail bank transaction costs and declining retail presence, retail banks are challenged to get more value out of every square foot of operation.  When working with personal bankers and other branch employees, customers provide frequent opportunities to expand the bank’s relationship with its customers, thereby...
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Exploring the Hybrid Methodology for Incentive Compensation Management Software Projects (Part 3 of 3)

The implementation of technology projects requires a lot of consideration, planning and commitment from the project team.  Your project foundation should demonstrate a solid understanding of the business needs, technology and resource availability to optimize the use of time and budget. Incentive compensation management software...
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Three Levels of Maturity for Sales Compensation Plan Cost Modeling

Incentive compensation plan changes are a reality that most organizations face every year. Sometimes plan changes are structurally significant and made in response to exciting new business initiatives.  In other cases, these changes are mere tweaks to a model that is already operating well.  In any case, change means entering into...
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Building Complete Support Models For Your Incentive Compensation Management Solution

Ensuring effective support is an essential part of any Incentive Compensation Management implementation. There are four main components to establishing your ICM support model. First is the transition itself from the implementation team to the support team. Second, you need to determine your operational readiness. Third, establish...
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Exploring the Waterfall Methodology for Incentive Compensation Management Software Projects (Part 2 of 3)

The implementation of technology projects requires a lot of consideration, planning, and commitment from the project team.  Your project foundation should demonstrate a solid understanding of the business needs, technology, and resource availability to optimize the use of time and budget. Incentive compensation management software...
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