The importance of better objectives management and salary incentives
Inefficient Business Performance Management: Source of the Problem
The processes of analyzing sales targets and salary incentives can become a complicated and tedious task for organizations.
The reasons behind this problem lie in the struggle experienced by sales managers to find the appropriate processes to help them identify the best in the organization.
As a result, more than half of employees think their supervisors don’t provide accurate performance reviews.
Leading the company to inefficient performance management, which can lead to dissatisfaction in many companies, which in most cases has a negative effect on the efficiency of the organization.
However, on the opposite side, some studies show that organizations that manage to create a motivating atmosphere at work become 21% more profitable thanks to a highly engaged workforce. Therefore, the goal of every company is to create a positive work environment that helps improve employee performance and experience. Reducing the possibility of problems related to job dissatisfaction.
For this reason, at BISIONA we offer our Performance Measurement module, a solution completely integrated into the BISIONA platform that allows easier and more agile management of Incentives and Sales Objectives.
Some of the advantages that our module is already providing in many companies are:
More effective management of salary incentives
Thanks to the integration of multiple parameters that allow the module to adapt perfectly to the characteristics of each commercial organization.
Contributes to a better achievement of salary goals
This implies an increase in sales in the medium term, and business growth.
Improve sales performance
By being able to control their performance in a much more useful and agile way through intuitive Dashboards.
Free up time and resources
Thus increasing the competitiveness of the company.
3 strategies to achieve efficient management of salary objectives and incentives
But, then, is it enough to integrate an objectives and incentives management system? Reality shows us that NO. Some of the key points that we have managed to identify in order to achieve efficient and optimal management of salary objectives and incentives in our companies are:
- Create an infrastructure and management system that is perceived as fair.
- For this, it is very important to link the goals of each of the people that make up the team with the commercial objectives of the company.
- In addition, differentiating and making accurate calculations of compensation and incentives is also essential in order to create a work environment that is perceived as fair.
- Finally, ensuring transparent and fluid communication between managers and employees is also of great importance in order to ensure a relaxed work environment that encourages teamwork and the motivation of each of the employees.
However, putting this into practice can prove to be an extremely difficult exercise for the organization due to the lack of time of the Managers.
For this reason, an adequate objectives and incentives management system is the necessary tool to be able to promote a culture of high performance in your company.
Thanks to the new possibilities offered by the new methodologies and advances in Artificial Intelligence, Data Analysis, or BI, we are now able to integrate a specific solution that helps us manage the objectives and plans of employee compensation. Thus simplifying and streamlining the efforts and resources that this type of activity generally entails.
But what kind of features should our performance management system have?
Download now for free our E-book «the importance of a better objectives and incentives management» to discover what are the key characteristics that a good Performance Management System should have and much more.
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