The Compensation Plan
InterClean has established a new compensation plan for the sales team. This pay system is to motivate employees to perform and exceed expectations outlined by the company. Employees will have the opportunity in this new compensation plan to increase their earning potential monthly on top of their based salary.
The compensation plan is composed of three parts. The first part is the base salary of 35,000 a year, which is paid out bi-weekly to an employee working 40 hours. The second part is the bonuses earned from meeting plan, which is paid out on the first of the following month and the third part is the multiplier, for exceeding sale objectives.
The Base Salary
The base salary for an InterClean sales representative at entry level is 35,000 a year. InterClean only hire the best suitable sale representatives for the position. That is why the position is no longer only commissioned based. A base salary will accompany the perks of commission. The salary was established to bring about more administrative accountability with the sales associates, promote employee loyalty and to keep attrition down. Employees will have the sense of belonging and growing with company while diminishing high turn over rates. In return, the company will be paying for adequate training for the sales reps to be familiar with the new products and services, while still allowing time for employees to build a pipeline of new business.
During this training process, employees will still have a set income for determining quality of life. If employees were solely on a commission base pay, then they usually would not have the time to become well-versed in the products and services they are selling. InterClean believes that the most likely to succeed sales associates have an extensive amount of product knowledge to be persuasive in sales.
The new compensation plan is to highly motivate and establish a strong sales team. The entry level...