How WEEKEND motivated its sales team with a real-time bonus system
Who's who?
WEEKEND is a rising star in premium premix cocktails, shaking up the scene with tap and bottled perfection.
Challenge
Designing an effective bonus system for your sales team can boost performance and align everyone with your company’s priorities.
Action Plan
We tackled the challenge by identifying key success factors, assigning their importance, and seamlessly integrating them into a data-driven tool for managing the sales team's bonus system.
Result
The result is a real-time, data-driven bonus system that calculates quarterly bonuses based on a weighted combination of objective KPIs and management input.
Challenge
So you’ve hired some employees… now you need to make sure they stick around! But what’s the best way to do so? A well-designed bonus system can be a game-changer, that’s for sure. It not only drives performance and acknowledges hard work, but also helps attract and retain talent while fostering healthy competition. Besides that a well-developed rewards system clearly communicates your companies priorities and focus to your sales team.
And that’s exactly what WEEKEND was up to.
Action Plan
So how did we get there? The first step was to determine the most important evaluation factors that would indicate a sales agent’s success. After identifying these success factors, which can be both hard data points (revenue, newly onboarded clients, etc.) and soft data points (personal interactions and relationships), we delved deeper to assign weight to each of these factors based on their importance.
Once the thinking is done and everyone is aligned on the outcome, we started implemented the business logic. This included pulling the data from the different data sources, transforming the data in the desired format and aggregating the data into the final system.
Result
The result is a data-driven, real-time bonus system that distributes bonuses on a quarterly basis. Built on top of an already existing environment where sales performance is monitored.
The bonuses are awarded based on a score influenced by a combination of factors, each weighing differently. The weighting for these factors can be adjusted quarterly if management wants to emphasize different aspects.
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