Does your company pay all of its sales representatives fairly and accurately? For employees earning a straight hourly, weekly, or monthly salary, the goal of fair and accurate compensation is mostly a matter of simple arithmetic. But sales representatives expect a compensation plan tied to sales volume, performance, or other incentives and paying those employees fairly and accurately requires much more effort.
It seems legitimate to offer an individual incentive plan according to the type of sales job, but even that can be hard to manage. In a bank, for instance, how can you establish the same incentives for a regular bank teller as for a private banker specialized in complex transactions? Compensation teams in small and medium companies regularly have to deal with dozens of types of sales jobs with multiple factors and indicators per job. And even if you arrive at a fair, accurate compensation model, it won’t work if payroll: a) doesn’t know where to find all the required data, and b) can’t calculate the amount quickly and easily.
Automation through workflows, analytics, and data extraction simplifies the mechanics so sales compensation teams can focus on refining the model. Workflows make it easier to add or withdraw data from the calculations if needed and to provide deep details of the model to employees. They allow companies to change indicators quickly if they prove unrealistic and see how data flows (or doesn’t flow) through the model. And they offer controls against outlier figures that don’t make sense.
Automation can shave hours of regular, laborious spreadsheet work down to a few minutes per pay period. And by pairing payroll calculations with the human resources dimension of sales compensation models, companies can diagnose errors more quickly and pay salespeople more fairly and accurately.
With Alteryx, you can:
- Connect directly to HR data sources such as Workday and sales data in platforms like Salesforce
- Set up data blending and preparation workflow once, and set workflow to automatically update every week or month
- Apply custom sales compensation model automatically, and easily update the model to match new sales goals