Insights on Incentives has as its sole purpose the facilitation of thought and discussion on the subject of incentive compensation for banks and credit unions. Once a month NSS will be sending out an e-mail with one insight on the area of incentive compensation. The insights will come from our research, discussion with customers and finally, those of you who decide to offer an insight on this important sales management issue.
Branch Sales Performance Scorecard
More and more we are seeing the incorporation of key sales performance metrics on to a balanced scorecard. Most often they include deposit growth, loan growth, and fee income. Referrals might be there too. To give it a balanced look each metric is assigned a weight relative to one another. Results are measured against plan numbers and the results combined using the weighting to produce a bottomline performance number for these key sales metrics. Now the branches can be ranked against one another. Following that the bottomline performance number can be used as an incentive gate or modifier for branch personnel.
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Insights on Incentives is brought to you by NSS Corp.
