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The "Xactly Comp Survey Report 2023" provides an analysis of sales compensation planning in a variable economic landscape, highlighting the challenges and strategies businesses globally are employing. Here are the summarized bullet points:
Sales compensation planning is complex, especially during economic shifts, as it must balance budget control with the need to motivate account executives (AEs) essential for business growth.
Setting appropriate quotas is difficult and directly influences quota attainment, with the report indicating that less than half of the AEs met their quotas in 2022. This has repercussions on the success of new hires and AE retention.
Companies strive for a balance in the quota mix between acquiring new business and retaining existing customers, but manual processes are still prevalent in planning and execution of compensation strategies.
The current high inflation period is creating demand for higher wages, and in a competitive market, there's a risk of losing top talent to better pay elsewhere. The main growth hurdles identified are competition, market changes, and the development of sales pipelines.