“It makes sense that sales compensation is a major focus right now as businesses have been hit hard in recent months,” said Scott Cawood, President and CEO of WorldatWork. “The impact has been sudden and extreme, and in every industry sector the scales have been tipped. Regardless, the playing field sales has grown accustomed to has changed. For every type of business in every industry, realignment of sales operations is necessary to address the new marketplace.”
“The survey confirms our observation that companies are in the midst of Planful Action, the second phase of COVID-19 recovery,” said Mark Donnolo, Managing Partner and Founder of SalesGlobe. “The four phases include: 1. Acclimation 2. Planful Action 3. Building and Adjusting, and 4. Planning for Recovery.”
“It is important for companies to be thoughtful of the changes they are making today, as it is still unclear how this crisis will impact the sales model of the new economy. Companies that take a conservative approach that isn’t overreacting to a short-term problem will be best equipped to transition into their post-COVID-19 sales strategy,” said Michelle Seger, Partner SalesGlobe.
About the Study
WorldatWork, in partnership with SalesGlobe, conducted a rapid response survey about sales compensation in a COVID-19 world. WorldatWork members and SalesGlobe clients were invited to participate in the survey via email and LinkedIn, resulting in a final sample of 372 respondents. Results are generally representative of mid-sized and enterprise organizations, and the overall study has a 5% margin of error. Sample sizes vary by question and by respondent group. Please note that statistical reliability will fluctuate based on sample sizes.
The impact of COVID-19 on quotas and incentive compensation is literally evolving week to week. As companies move from “What are other companies doing?” to “What should we do?” it’s helpful to get insights and examples of how to approach the specific challenges in this uncertain environment.
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