Course Summary
Learn how to design and implement a competitive compensation plan for your organization. This course covers the fundamentals of compensation, including expenses and quotas.Key Learning Points
- Understand the importance of compensation and how it can impact employee motivation and performance.
- Learn how to design and implement a competitive compensation plan that aligns with your organization's goals.
- Gain knowledge on the legal and ethical considerations involved in compensation planning.
Related Topics for further study
- Compensation Planning
- Employee Motivation
- Legal and Ethical Considerations
- Performance Management
- Salary Structures
Learning Outcomes
- Design and implement a competitive compensation plan for your organization.
- Understand the legal and ethical considerations involved in compensation planning.
- Evaluate the impact of compensation on employee motivation and performance.
Prerequisites or good to have knowledge before taking this course
- No prior knowledge of compensation planning is required.
- Basic understanding of HR concepts and practices is recommended.
Course Difficulty Level
IntermediateCourse Format
- Self-paced
- Online
- Video lectures
- Quizzes
Similar Courses
- Human Resources Management: Compensation and Benefits
- Total Rewards Management
Related Education Paths
Notable People in This Field
- Dan Pink
- Adam Grant
Related Books
Description
This course is the third part of the Sales Operations/Management Specialization. In it, we will discuss some of the financial aspects involved in managing a sales force. Students will learn about the options available for sales force compensation, the different types plans you can use to manage your sales expenses, and how you can use quotas to help your salespeople achieve goals.
Outline
- Compensation Overview
- Introduction - Week 1
- Goals of a Sales Compensation Plan
- Interview: Sydney Eddy from Lavish Botique
- Manager versus Sales Professionals Perspectives
- Steps in Developing a Compensation Plan
- Straight Salary
- Straight Commission
- Combination Plan
- Indirect Monetary Compensation
- Interview - Scott Stenger from All Makes Vacuum and Sewing Center
- Week 1 Questions and Answers
- Week 1 Review
- Motivating Salespeople: What Really Works
- Week 1 Quiz
- Methods of Compensation
- Week 2 Introduction
- Sales Force Expenses
- Goals of a Sales Expense Plan
- Interview - Teelin Henderson from Mazak Corporation
- Interview - Scott Stenger from All Makes Vacuum and Sewing Center
- Week 2 Questions and Answers
- Week 2 Review
- Expense Report Abuse: Much Ado about Nothing
- Week 2 Quiz
- Managing Sales Expenses
- Week 3 Introduction
- Controlling Expenses
- Transportation Expenses
- Interview - Helen Tsang from Lavish Boutique
- Interview - Scott Stenger from All Makes Vacuum and Sewing Center - Part 1
- Interview - Scott Stenger from All Makes Vacuum and Sewing Center - Part 2
- Week 3 Questions and Answers
- Week 3 Review
- Why Bosses Can Track Their Employees 24/7
- How Can GPS Vehicle Tracking Improve Your Business?
- Week 3 Quiz
- Sales Expense Control
- Week 4 Introduction
- Purpose of Sales Quotas
- Types of Quotas
- Three Approaches to Setting Quotas
- Interview - Helen Tsang from Lavish Boutique
- Interview - Scott Stenger from All Makes Vacuum and Sewing Center
- Week 4 Questions and Answers
- Week 4 Review
- Compensation Trends Data
- Week 4 Quiz
Summary of User Reviews
This course on compensation, expenses, and quotas has received positive reviews from many users. The course covers a wide range of topics related to compensation and provides valuable insights into the subject. Users have found the course to be informative and engaging, with a good mix of theory and practical examples.Key Aspect Users Liked About This Course
Many users appreciated the practical examples and real-world scenarios used in the course.Pros from User Reviews
- Wide range of topics covered
- Informative and engaging
- Good mix of theory and practical examples
- Experienced instructors
- Interactive quizzes
Cons from User Reviews
- Some users found the course to be too basic
- Lack of depth in some topics
- Not enough focus on international compensation
- Some technical issues with the platform
- No certificate of completion
Emily C. Tanner, Ph.D.
4.5 Raiting
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