Austin, Texas / Scottsdale, Ariz. (PRWEB) June 28, 2012
Too many manual adjustments, program complexity and data problems are the top three challenges in Sales Performance Management that organizations face in their day-to-day work. This was the key finding in the “2012 Sales Performance and Technology Survey” by OpenSymmetry Inc., a leading Sales Performance Management and Incentive Compensation Management consulting firm.
Now in its seventh year, the 2012 survey was conducted in partnership with WorldatWork, a global human resources association that provides training and certification in HR specialty areas including sales compensation.
“The survey revealed deeper issues involving manual processes, documentation and evaluation, that ultimately impact sales performance,” said Jim Stoeckmann, CCP, CSCP, sales compensation practice leader at WorldatWork. “A vast majority of respondents still rely on manual, standalone processes, and more than one in five do not document the sales compensation administration process and nearly half do not take the time to evaluate its effectiveness.”
In addition, the study highlighted areas of concern dealing with data accuracy and timeliness. Results indicate that for 62 percent of companies it takes four to ten weeks to process incentive payments and less than one in three have an accuracy rate greater than 99 percent.
"We see plenty of opportunities for organizations to move the dial towards best practices in sales performance management,” said Justin Lane, Director of Strategy Services, OpenSymmetry. “As more businesses adopt technological solutions, payment accuracy will improve and more importantly, the technology will enable timely and rich information to truly drive sales force behavior and improve performance.”
To request a copy of the survey report, please click here.
About the Survey
The Sales Performance and Technology Survey was administered between February and April 2012. There were 460 participants from a wide variety of industries worldwide. Fifty per cent of respondent companies employ 5,000 or more employees. Respondents represented different types of organizations including private sector-publicly traded 50%; private sector-privately held 34%; public sector (local, state, federal government) 10%; nonprofit/not-for-profit 6%.
OpenSymmetry (http://www.opensymmetry.com) is the only dedicated Sales Performance Management consulting firm with a global team of experts to address your compensation needs. Our consultants understand the complexities of Incentive Compensation and offer expertise in Plan Design, Solution Selection, Implementation, Managed Services, and Reporting & Analytics, with delivery across the industry's leading solution providers. Headquartered in Austin, Texas with offices in London, Sydney, Johannesburg and Kuala Lumpur, OpenSymmetry is positioned to provide independent advice on all aspects of Sales Performance Management and Incentive Compensation.
The Total Rewards Association
WorldatWork (http://www.worldatwork.org) is a not-for-profit organization providing education, conferences and research focused on global human resources issues including compensation, benefits, work-life and integrated total rewards to attract, motivate and retain a talented workforce. Founded in 1955, WorldatWork has nearly 30,000 members in more than 100 countries. Its affiliate organization, WorldatWork Society of Certified Professionals®, is the certifying body for the prestigious Certified Compensation Professional® (CCP®), Certified Benefits Professional® (CBP), Global Remuneration Professional (GRP®), Work-Life Certified Professional™ (WLCP®), Certified Sales Compensation Professional™ (CSCP™), and Certified Executive Compensation Professional™ (CECP™). WorldatWork has offices in Scottsdale, Arizona, and Washington, D.C.