The Importance of Regularly Updating Sales Compensation Plans

In the contemporary cut throat business environment contemporaries uses Sales Compensation plans in order to achieve their business orientation. Sales Compensation plans are mainly used to advice the selling organization on how to drive sales performance within the sales team. For instance, as market sectors keep changing, competition increases and sales strategies are retooled, the temptation to keep updating the compensation strategy is high in order to stay relevant and be able to allow the sales force to peak in their performance gains. Thus, the purpose of this paper is to explain why organizations are more likely to need to regularly update their sales compensation plans as the world around keeps changing. Subsequently, the paper will propose a direction on how the process of regular updating of sales compensation plans can be achieved effectively.