Enroll Course: https://www.coursera.org/learn/compensation-expenses-quotas
As the third installment in the Sales Operations/Management Specialization on Coursera, the “Compensation, Expenses and Quotas” course offers a crucial deep dive into the financial backbone of effective sales management. This course expertly navigates the complexities of incentivizing and managing a sales force, providing actionable insights for anyone looking to optimize sales performance.
The syllabus is meticulously structured, beginning with a comprehensive overview of sales force compensation. It delves into the fundamental goals of compensation plans, exploring the differing perspectives of managers and salespeople. The course guides you through the essential steps of developing a robust compensation plan, detailing how to determine overall compensation levels and examining the pros and cons of various compensation methods, including the significant role of indirect monetary compensation.
Following compensation, the course transitions to the critical area of managing sales expenses. It outlines the objectives of a sales expense plan, addressing vital considerations like IRS regulations and the importance of well-defined expense reimbursement policies. These policies are presented not just as administrative necessities, but as strategic tools to foster stronger customer relationships.
The subsequent modules provide practical strategies for expense control. You’ll explore alternative methods for managing sales force expenses, weighing their respective advantages and disadvantages. A significant portion is dedicated to transportation expenses, evaluating the merits of company-provided vehicles (lease vs. purchase) and the intricacies of reimbursing salespeople for using their personal vehicles.
Finally, the course tackles the strategic implementation of sales quotas. It defines what a sales quota is and its pivotal role in performance measurement. You’ll learn about various approaches to setting quotas, critically assessing their benefits and drawbacks. The course also covers different methodologies for quota estimation, including leveraging territory potential, historical data, and incorporating salesperson insights.
Overall, “Compensation, Expenses and Quotas” is an indispensable course for sales managers, operations professionals, or anyone involved in sales strategy. It equips you with the knowledge to design effective compensation structures, manage expenses judiciously, and set performance-driving quotas. This course is highly recommended for its practical approach and its ability to translate financial concepts into tangible sales success.
Enroll Course: https://www.coursera.org/learn/compensation-expenses-quotas