Building a High-Performing Sales Compensation Team
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Hello! Welcome to the latest edition of Forma.ai's newsletter,?Here's the Kicker.
This newsletter was created by Sales Comp Experts, for Sales Comp Professionals. To read our upcoming editions?subscribe here.
Strong sales comp teams don't exist by coincidence.
They're molded by strong leaders who prioritize continuous career development, driving their employees to sharpen their skills and reach their full potential.
We were recently joined by? Dal Sidhu ,? Erin Shulan , and? Marc Wallace ?on a live panel to explore what it takes to be the kind of sales comp leader who champions growth and long-term success for their employees.
If you couldn't attend, here are five things you missed:
1. Climbing the ladder in sales comp
Nabeil Alazzam opened up with a point almost every sales comp professional can resonate with,?"Nobody wakes up wanting to be in sales compensation."
For many people, it's a career they fall into and grow passionate about.
In the past, there was no clear path for growth.
But as sales comp has evolved into a more strategic partner within organizations, career opportunities have expanded.
2. Traits of a good sales comp analyst
Dal told us that the best comp analysts embrace sales team feedback and effectively integrate it into the comp plan.
They should also be able to simplify complex concepts for senior stakeholders across the organization.
Erin agreed, adding that a great analyst acts as a thought leader, presents new ideas, and identifies what motivates the sales team.
3. Going from analyst to manager
Erin recommended prioritizing strategy over execution as the best route.
"I would look for somebody who can execute and make decisions, not follow them,"?she added.
Dal supported this view, highlighting the importance of engaging with top-level executives and participating in strategic discussions.
4. Connecting with senior stakeholders
Nabeil emphasized that great sales comp leaders encourage their teams to engage in challenging conversations.
"They need to know that they can challenge senior stakeholders and question the SOP for sales comp when necessary,"?he added.
Marc told us that enabling your team involves instilling confidence to think strategically and have productive conversations with senior executives.
5. Best practices for providing ongoing feedback
Marc stated:?"Ongoing communication is essential. Many new managers overlook this step in the process."
Dal added:?"The more frequent check-ins, the better. Keep them informal, so addressing conflicts becomes easier."
Erin advised:?"Sales comp can be a thankless job. Always support your team publicly and present a unified front."
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Nabeil recommended thanking your team by calling and expressing gratitude in just 1 minute. It motivates them to continue delivering great work.
Final thoughts
At the end of the day, being a strong leader is about supporting your team's growth, both as a collective and as individuals.
Fostering an environment of growth and empowering your team members to pursue their career aspirations lays the foundation for a strong team and a culture of excellence—one that elevates the entire organization.
If you missed the panel,?How to Manage Career Growth for Your Sales Comp Team, you can watch the video here.
?? LIVE NEXT WEEK: Sales Comp'23 in Chicago
We're excited to be attending WorldatWork 's Sales Comp'23 conference!
It is THE event for sales comp professionals to connect, collaborate, and learn the latest strategies and trends in sales performance management.
Find us at Booth 1 for games, giveaways, and chats with one of our many experts on the floor.
Also, don't miss our Founder and CEO,? Nabeil Alazzam 's live session on Wednesday, August 23 at 9:45 am!
Can't wait to see you there! ??
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We are sales compensation experts first. Just like this newsletter, Forma.ai was created by Sales Comp Experts, for Sales Comp Professionals.
Our platform is the world's first sales compensation solution driven by a collective data model. It allows organizations to design, execute, and optimize their sales compensation strategy.
When you're ready to chat, we're?here!