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I need advice on a bonus structure for a New VP of Sales. With a high base plus a potential 25% bonus plan, I need to ensure the individual is motivated to reach attainable targets.
Thank you
Structuring effective sales exec compensation plans is way out of my league. But there is a whole lot of other people who write about this stuff. Unfortunately, most of the analysis seems to be either obvious oversimplification–e.g., “align incentives with organizational goals”–duh!!, or greek-lettered analysis that only an MBA can decipher. But I did manage to come up with a few resources that I found practical, useful and comprehensible. Here they are: https://www.saastr.com/a-basic-structure-for-a-vp-sales-comp-plan-the-505025/ https://www.wilsongroup.com/wp-content/uploads/2011/03/The-5-Essential-Drivers-of-Success-for-Sales-Compensation-Plans.pdf https://www.ringdna.com/blog/these-inside-sales-compensation-plan-templates-will-motivate-your-reps-to-win-revenue https://www.saleshacker.com/sales-compensation-plan-blueprint/ https://hbr.org/2012/07/motivating-salespeople-what-really-works Hope this helps. Glenn
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