Your sales strategy changes, your compensation plan changes. So, how to make your teams adapt to changes without any friction?
A compensation plan details out how you want to pay your employees, including the base pay, wages, commissions, benefits, and other perks.
A sales compensation plan is an outline that consists of details on how you are going to pay your employees.
Commission rates are the percentage of sales or a fixed amount that you pay your reps for the sale they make.
A sales quota is a target set by management to the sales team or reps that has to be achieved in a specific time period.
Sales quota is the target that you set for your sales team to achieve within a specific time period, be it monthly, quarterly, or annual.