This edition is sponsored by Champify With Champify you can unlock a better pipeline channel by creating outbound campaigns for former champions, decision-makers, heavy users, and admins at accounts you've sold to before avoiding the "stranger danger" of cold outreach.Click Here to get a free inside look at the value of the tool!
It’s no secret that tech sales commission plans are tricky. Especially in a time when layoffs are booming, commissions can rival the intricacy of the products themselves. The need for genuine pay transparency has never been more crucial.
In this week's newsletter, we dive deep into the concept of pay transparency, explaining why it's vital for sales professionals and providing actionable insights to ensure your compensation aligns with your hard work and dedication.
Like most tech sellers and sales leaders, you probably have questioned the accuracy of your commissions or felt lost in the maze of your earnings.
Don't settle for inaccurate payouts or lackluster severance agreements. Empower yourself with the insights below to navigate the challenges effectively.
True pay transparency means having complete visibility into every facet of your deal, from its inception to the final commission payout. Sadly, only a handful of companies offer such transparency, leaving many sales professionals in the dark.
At the end of the day these companies are running a business, and no matter how much “ruinous empathy” they try to tell you they want to instill in the culture, getting the bottom line revenue to as high of margins as possible is always going to be the focus.
Ambiguity in compensation affects not only work but personal lives, finances, mental health, and family time. It’s wild to think that employers would be so concerned with their profits before being concerned about those who leave their families every day to generate those profits.
We’ve uncovered instances where nearly $20,000 in pay discrepancy has been found, and in some situations that can be the difference in a life milestone.
While employers are legally obligated to ensure accurate compensation, there's no statutory mandate for comprehensive reporting and reconciliation. You have to familiarize yourself with your rights as an employee when it comes to demanding equitable compensation.
One of the state laws here in California specifically is that employers have 72 hours from the time an employee gives notification of quitting to payout any wages and commissions earned to the individual.
Knowing your state and local pay laws, and sometimes easily calling out those laws can be the difference between getting what you’re owed and being at the mercy of your employer.
Download your CRM and deal with data consistently. Keep track of all the deals you touch from inception to close, and beyond clawback periods. There’s no point in spending months to land an account, only to miss out on getting all your year 1 ARR due to sticky scenarios and gray area details.
You can also explore practical steps to safeguard your financial future, including utilizing tools like TruCommish, gathering compensation data, and embracing documentation as your ally. Dan Goodman has been helping sales leaders create pay-transparent procedures and secured millions of dollars in commission for sales reps!
Pay transparency isn't just about corporate balance sheets; it impacts the lives of dedicated sales professionals. Take control of your financial destiny, advocate for your rights, and contribute to a more equitable future for all tech industry sales professionals.
Your financial well-being is worth defending. Empower yourself with true pay transparency.
Time to get prescriptive 🩺
Join 300+ subscribers to The Sales RX Newsletter where every Friday morning you’ll get 3 actionable insights to continue growing in your career.
Get a free consultation and review of your current Go-To-Market playbook by booking an intro call below.