Motivate the Right Results: Incentive Compensation Plan Design for All Customer-Facing People in You
February 13, 2008: 6:30 PM - 9:30 PM
Motivate the Right Results: Incentive Compensation Plan Design for All Customer-Facing People in Your Business
What does your comp plan say to Sales?
Incentive plans drive behavior for sales people and can produce outstanding results when used properly with all customer-facing team members. But crafting appropriate plans that work is tricky. This session will help you understand how to design effective compensation plans that drive desired financial results and avoid unintended consequences.
450 N. City Front
Discounted parking at AMC Theater-River East Self parking Garage
300 East Illinois Street $6.00 after 3:00pm on weekdays and all day Saturday and Sunday for a 12-hour period
To receive discounted rate: There is a card validator at the first floor security desk of the Gleacher Center. The new system for the AMC Theater- River East Self Park Garage is automated. You will only need to insert your parking card in the validator and the new price will be automatically applied. You can validate your parking ticket at any time between your arrival at and departure from the Gleacher Center. When you leave the lot you will be charged for the lower $6.00 fee.
The mission of the GSB Sales Leaders' Roundtable is to help both Chicago alumni and a broader community of sales professionals learn more, meet other colleagues and resolve sales issues. Our vision is to be the first choice for learning and sharing new sales leadership ideas. Visit this GSB alumni website for more information about the Sales Leaders' Roundtable, to view upcoming events and to subscribe to our email list.
The Sales Leaders' Roundtable welcomes non-GSB alumni or friends of the GSB.
6:30 PM-7:00 PM: Registration and networking
7:00 PM-8:30 PM: Program
8:30 PM-9:30 PM: Cash bar in the Midway Club
Liz Cobb (Speaker)
CEO, Makana Solutions
Liz Cobb is an innovator in the sales comp field. She founded two other incentive-compensation companies before her vision of a complete on-demand software solution inspired her to create Makana Solutions. Her goal is to produce an affordable yet easy-to-use set of tools that enable design planners—even those for whom planning is only an occasional task— to create sales plans that drive strategy and motivate employees.
Prior to Makana Solutions, Cobb founded Incentive Systems now known as Centive (1997) and ViComp Management, Inc. (1991). She served two years as CEO at Incentive Systems before turning over the reins in October 1999, whereupon she continued as a member of the executive team in the role of executive vice president of strategy until her departure in March 2003.
At Incentive Systems, Cobb coined the phrase EIM (for enterprise incentive management) and pioneered the market category. Under her leadership, Incentive Systems raised $9 million in venture capital, delivered the industry’s first comprehensive software solution for incentive compensation, and established a strong executive team. As EVP of strategy, she leveraged her considerable knowledge of incentive compensation and software-development processes to help grow the company to more than $22 million in revenues by 2002.
Cobb served as vice president of sales and marketing for five years at ViComp Management, a consulting practice that automated sales compensation. She carried out senior management roles for the Open Software Foundation and Computer Corporation of America, and worked in software development, customer education, technical support, and product management at CCA and Honeywell, where she spent two years in international sales.
Cobb earned a master’s degree in computer science from Arizona State University. She is a magna cum laude graduate of Vanderbilt University, where she earned a bachelor of science in mathematics and computer science.
Ken Nordine, Jr. '97
Other InformationRefreshments are not served, but you are welcome to stop by the Wolfgang Puck on the first floor for your own refreshments prior to the meeting - when school is in session.
2008 is here! Learn how to start it with more effective incentive plans!
The presentation will provide an overview of the basic principles of designing and measuring great incentive plans. You’ll learn:
•The incentive compensation planning process: who should be involved, and what should they do.
•How to define the job roles you need.
•How to set goals and define metrics across all sales and customer service roles, including lead generation, direct and channel sales, telesales, customer implementation and support.
•How to define the appropriate leverage and mix in each plan.
•How to write clear and motivating incentive compensation plans.
You’ll see examples of both good and bad plans and discuss how unintended consequences lurk behind many plans designed in haste.