Incentive
Compensation
Incentive Compensation is a key component of our NSS
XSELLerator Performance Management System for banks and credit unions. We not
only have many automated options, but we have a Consulting offering
to help design a program that fits with your institution’s
strategic focus.
Features
Plan Types: XSELLerator supports multiple types of plans. There
is support for referral plans, product sales plans, Team plans,
Cross-sell, and management plans. Plans can be based on dollars
or points.
Plan Administration: Plans are set-up using our
administrative function. This allows plans to be developed over
any time period.
Plans can be set-up right down to an individual. Mostly plans are
assigned based on a combination of job class and location.
Referral Plans: Referral plans can be based on ones originated
or only on ones that turn into sales. Incentive amounts can be
flat fees or calculated based on balances or a combination of both.
Incentive amounts can be different for every product.
Product Sales Plans: Plans can be individual or a combination
of job class and location. Incentive amounts can be flat fees or
calculated based on balances or a combination of both. Calculations
on balances can be tiered. Incentives can be different for every
product.
Team Plans: Team plans consider all members of a branch to be
on a team. Once the team target is met incentives are earned on
a pro-rata basis.
Cross-sell: Cross-sell plans allow you to establish incentives
for each additional sale to a customer based on an extended customer
sales session that can be set as a parameter. Cross-sell can also
be used as in incentive gate. For example, a cross-sell ratio of
1.5 must be met before product sale incentives are earned.
Management Plans: Production is rolled up in
XSELLerator and used for determining if Managers have reached a
level that supports
a bonus payment.
Bonus Plans: Accelerators can be tied to plans and have up to
three different hurdle levels in increase the percentage payment
on an incentive plan.
Adjustments: An adjustment function allows for
processing debits or credits to an individual’s payout. This
also can be used to pay special bonuses.
Payroll system integration: Payroll ids can be
entered into XSELLerator so an electronic extract can be prepared
for input
into your payroll system.
Reporting: We have several reports that can be accessed from the
Performance Management Portal. Some of these are:
• Employee Statements
•
Referral, Product Sales, Incentives Summary
•
Payout Summary
•
Incentive Ranking
•
Manager Statements
•
Employee Plans
•
Manager Plans
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