Assignment 2: Sales Force Compensation

User Generated

Pbnpuzna1

Business Finance

Description

  • Assignment 2: Sales Force Compensation

    For companies that have a mission of selling, a major objective is to motivate the salespeople. While that are many factors that go into motivating these people, one of the primary factors is the compensation plan that describes how they will be rewarded. Research a large organization’s sales force and its compensation plan.Write a five to seven (5-7) page paper in which you:
    1. In order to motivate the sales force to produce the highest number of clients, describe six (6) features of an effective total rewards program.
    2. Describe the behaviors of the sales force that are targeted with the compensation plan.
    3. Assess how a value proposition is achieved for current and future employees in the plan you have outlined.
    4. Based upon the type of plan you have created, indicate how attracted you think future salespeople may be to this plan.
    5. Use at least five (5) quality academic resources in this assignment. Note: Wikipedia and other Websites do not quality as academic resources.

Your assignment must follow these formatting requirements:

  • Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; references must follow APA or school-specific format. Check with your professor for any additional instructions.
  • Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required page length.

The specific course learning outcomes associated with this assignment are:

  • Define total rewards and describe the advantages of a total rewards approach.
  • Analyze an organization’s strategy, workforce, operating environment, and key stakeholders to identify critical factors in designing a total rewards strategy.
  • Use technology and information resources to research issues in total rewards.
  • Write clearly and concisely about total rewards using proper writing mechanics.

Grading for this assignment will be based on answer quality, logic / organization of the paper, and language and writing skills, using the following rubric.

Click here to view the grading rubric for this assignment.

Points: 150

Assignment 2: Sales Force Compensation

Criteria

Unacceptable

Below 70% F

Fair

70-79% C

Proficient

80-89% B

Exemplary

90-100% A

1. In order to motivate the sales force to produce the highest number of clients, describe six (6) features of an effective total rewards program.

Weight: 20%

Did not submit or incompletely described six (6) features of an effective total rewards program.

Partially described six (6) features of an effective total rewards program.

Satisfactorily described six (6) features of an effective total rewards program.

Thoroughly described six (6) features of an effective total rewards program.

2. Describe the behaviors of the sales force that are targeted with the compensation plan.
Weight: 25%

Did not submit or incompletely described the behaviors of the sales force that are targeted with the compensation plan.

Partially described the behaviors of the sales force that are targeted with the compensation plan.

Satisfactorily described the behaviors of the sales force that are targeted with the compensation plan.

Thoroughly described the behaviors of the sales force that are targeted with the compensation plan.

3. Assess how a value proposition is achieved for current and future employees in the plan you have outlined.

Weight: 25%

Did not submit or incompletely assessed how a value proposition is achieved for current and future employees in the plan you have outlined.

Partially assessed how a value proposition is achieved for current and future employees in the plan you have outlined.

Satisfactorily assessed how a value proposition is achieved for current and future employees in the plan you have outlined.

Thoroughly assessed how a value proposition is achieved for current and future employees in the plan you have outlined.

4. Based upon the type of plan you have created, indicate how attracted you think future salespeople may be to this plan.

Weight: 15%

Did not submit or incompletely indicated how attracted you think future salespeople may be to this plan.

Partially indicated how attracted you think future salespeople may be to this plan.

Satisfactorily indicated how attracted you think future salespeople may be to this plan.

Thoroughly indicated how attracted you think future salespeople may be to this plan.

5. References

Weight: 5%

No references provided

Does not meet the required number of references; some or all references poor quality choices.

Meets number of required references; all references high quality choices.

Exceeds number of required references; all references high quality choices.

6. Clarity, writing mechanics, and formatting requirements

Weight: 10%

More than 6 errors present

5-6 errors present

3-4 errors present

0-2 errors present

User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Explanation & Answer

Please find attached. Thank you.

Running head: SALES FORCE COMPENSATION

Sales Force Compensation
Name
Professor
Institution
Course
Date

1

COMPENSATION SALES FORCE

2
Verizon

Verizon is an American telecommunications conglomerate, and it is the largest wireless
communications service provider in the United States. It sales ranges from smart home services
to cloud solutions which all embrace cutting edge technology. Its sales persons include those in
business to business sales, enterprise sales and inside sales. Working as a salesperson in Verizon
is much more of an experience than just working in a retail store since the sales force is so
motivated that they do not just wait for buyers to come to them but instead they take the
initiative.
Six (6) features of an effective total rewards program


Compensation – Verizon has competitive and attractive salaries for their sales workforce.
This is in comparison with other sales companies. Besides the attractive salaries, Verizon
offers other excellent types of compensation to their sales force to keep it motivated and
productive. For instance, it provides a short-term incentive that is attached to the
performance as well as long-term incentive such as stock options as well as cash bonuses
(Chen & Hsieh, 2006).



Benefits – The benefits of Verizon exceed the legally mandated minimum benefits of
Medical plans, Social Security insurance, workers compensation insurance and 401(k)
plan. Although Verizon offers competitive legally mandated minimum benefits, such as
best – in-class health and insurance benefits, it offers other attractive benefits such as
tuition assistance, award winning on the job training, Employee Assistance Program,
generous vacation, holidays and personal days (Johnston & Marshall, 2016).

COMPENSATION SALES FORCE


3

Work life balance – The work environment of Verizon fosters a healthy balance between
the work of the sales force as well as their personal time or family time. Verizon
promotes an atmosphere that understands and recognizes the needs of its sales force
through a reward program called," your ‘me' time." Through this program, Verizon offers
generous time off so that the sales fo...


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