Impact on Commission and Overtime Tracking
July 10, 2015
Per Origination News, “The Supreme Court upheld the 2010 opinion letter, in which the DOL (Department of Labor) determined that loan officers were not exempt administrative employees and were therefore subject to overtime, minimum wage and timekeeping rules under the Fair Labor Standards Act.” Continue reading
The sales commission world is highly driven by incentives. Sales reps get paid a corresponding flat amount or percentage on gross profit if they close a deal or acquire a new client for the business.
Using incentives as a tool to get the results that you need – business-wise – is undoubtedly an intelligent move.
But how can you ensure that your incentive scheme works for both you and your sales reps? Christopher Cabrera, author of “Clean Water for a Billion People: The Transformative Power of Incentives” said: Continue reading
Holiday Pay: Cost of Holidays May Be Getting More Expensive for Employers
In a recent article on The Telegraph entitled, “Companies Braced for Jump in Payroll Costs as Workers Could Soon Claim Commission While on Holiday,” it was announced that millions of workers in the United Kingdom are soon going to be entitled to extra holiday pay. Continue reading
A salesperson’s job is an extremely difficult and challenging one. Not only do they have to work hard to turn the call or visit with a prospective client to a sale, but they also have to ensure that the commission they are getting from their sale is worth all the effort. It is therefore imperative for them to read through the contract carefully before taking on a sales job. This article presents the case of Verizon Wireless as an example to understand how and why employees need to be more careful about signing contracts before joining any firm. Continue reading
Not automating your sales commissions properly is not just going to cause problems with your staff or HR; it could also cause problems with the law. We take a look at a real life example of when unpaid sales commissions go wrong and what you can do to prevent this from happening to your business. Continue reading