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.
Incentive Compensation Design Team
In small and medium sized banks a number of functions need to be represented on the design team. Front line sales representatives can either participate directly on the team or their input solicited through focus groups. The CEO is typically not on the design team; however, he or she does participate in the approval process. In some organizations the implementation of the Plan requires Board approval. Following those points, consider structuring your team with representation from:
- Sales Management
- Lines of Business Managers
- Marketing
- Finance
- Human Resources
- IT
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Insights on Incentives is brought to you by NSS Corp.
