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The "2024 Sales Compensation Report" investigates the challenges and practices of sales compensation planning against the backdrop of a volatile economic climate. It emphasizes the need for organizations to carefully balance budget constraints with the motivation of account executives, who are crucial for a company's growth and profitability.
Key points:
Sales compensation planning requires a nuanced approach to manage industry trends and economic shifts while motivating account executives (AEs) for company growth.
Quota setting is a persistent challenge affecting AE performance, with a substantial number of companies grappling with missed quotas.
A balanced quota mix for new business and customer retention is necessary, but companies are struggling with efficient plan execution amid economic changes.
Top revenue growth challenges include stiff competition, market changes, and pipeline development, with the latter being a repeated concern over recent years.