Director, Revenue Compensation

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Director, Revenue Compensation

  •   3 Vacancy
  • 609 Views

Experience

Less Than 1 Year

Employee type

Contract

Position

GM / CEO / Country Head / President

Offer Salary

$1,500 - $2,200 /hourly

Job Description

Director of Revenue Compensation is a leadership role responsible for designing, implementing, and managing the compensation strategies and programs for the revenue-generating teams within an organization. This includes sales, business development, and other roles directly impacting revenue.

Responsibilities:

  1. Compensation Strategy:
    • Develop and implement comprehensive compensation strategies aligned with the organization's revenue goals and overall business objectives.
  2. Sales Incentive Plans:
    • Design and manage sales incentive plans, commission structures, and bonus programs to motivate and reward revenue-generating teams.
  3. Compensation Benchmarking:
    • Conduct regular market analysis and benchmarking to ensure that compensation plans remain competitive within the industry.
  4. Cross-Functional Collaboration:
    • Collaborate with sales leadership, finance, HR, and other stakeholders to ensure alignment between compensation plans and organizational goals.
  5. Performance Metrics:
    • Define and track key performance metrics related to revenue generation, ensuring that compensation plans drive desired behaviors and outcomes.
  6. Plan Communication:
    • Communicate compensation plans, changes, and updates clearly to the revenue-generating teams, ensuring a thorough understanding of incentive structures.
  7. Sales Quota Setting:
    • Work with sales leadership to set realistic and motivating sales quotas, considering market conditions and organizational targets.
  8. Incentive Program Analysis:
    • Analyze the effectiveness of incentive programs, identifying areas for improvement and making data-driven recommendations.
  9. Legal Compliance:
    • Ensure that compensation plans comply with relevant labor laws and regulations, addressing any legal considerations.
  10. Compensation Training:
    • Provide training and resources to sales teams on compensation plans, helping them understand how to maximize their earnings.
  11. Budget Management:
    • Manage the budget associated with compensation programs, ensuring alignment with overall financial goals.

Requirements:

  • Bachelor's or advanced degree in Business, Finance, or a related field. MBA is a plus.
  • Extensive experience in compensation management, preferably in a leadership role.
  • In-depth knowledge of sales compensation strategies, structures, and best practices.
  • Analytical mindset with strong quantitative and financial modeling skills.
  • Excellent communication and presentation skills.
  • Ability to collaborate effectively with cross-functional teams.
  • Familiarity with sales performance metrics and CRM systems.
  • Strategic thinking and the ability to align compensation strategies with broader business objectives.
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