In unprecedented times wouldn’t it be nice to have a crystal ball? While SalesGlobe has no such tool to predict what’s in store for the new year, we do have a team of problem solvers, techies, and data geeks who live and breathe sales effectiveness — as well as partnerships with some of the most passionate and insightful professionals in the world of sales. Based on our research, analysis, and Sales Design ThinkingSM we arrived at our twenty-five.
Pay mix will become more aggressive
Lower fixed costs = greater rewards. Sixty percent of organizations have compensation plans with at least 200% upside potential for performers in the 90th percentile. At the same time, many companies are buying less than they did a year ago. We believe that lower fixed costs will present a key opportunity to reward an organization’s most productive sellers.
Upside opportunity will increase to attract top talent
No better time to recruit sales talent. As the upside increases thanks to lower fixed investments, some companies will use the opportunity to attract new talent and offset goal risk. 2020 was a challenging year, but the pain and uncertainty will lead to a critical advantage for sales organizations that are disciplined and prepared.
Revenue will remain the key metric with an increase in the use of bookings
All about the bookings. In a survey we conducted with WorldAtWork, we learned that revenue would remain the primary metric for most companies. We recommend that sales organizations pay something upon bookings. Of course, you get to define what you pay and what a booking is at your company; different organizations have different standards.
Plans will continue to simplify with fewer measures to increase focus and flexibility
Keep it simple. Our survey with WorldAtWork found that 25% of organizations use only one performance measure, which is up 21% since 2016. In other words, companies are trending toward keeping it simple. Simplicity is essential in 2021 when many meetings will still be conducted virtually. We recommend looking at technology that will help simplify performance measurement.
Take the COVID-19 Sales Recovery Assessment to help rethink sales.