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We present the following income producer plan types: 1 Flat commission 2 Ramped commission 3 Residuals/Trailing/Back-end payouts 4 Pools 5 Multi-tier marketing
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Income Producer Plan 1: Flat Commission The flat commission schedule (see Figure 5-3) is the simplest of all sales compensation formulas The formula is stated as a percent of sales dollar production or fixed payment for each unit sold Here are examples of flat commission plans:
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Example 1: 6% commission paid for all sales dollars Example 2: 25% commission paid on all gross margin dollars Example 3: $10 commission paid for each unit sold
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Compensation Commission Rat e x% of Sales Production
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Low Low Sales Production High
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Figure 5-3 Income Producer 1: Flat Commission
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Note: In the example in Figure 5-3, the payment begins with the first dollar or unit of sale So, there is no threshold that must be reached before payments can begin, nor is there a cap or maximum payment either In this illustration, commission earnings are unlimited
Observations A flat commission, with no base salary, is a very powerful and focused pay program Expect the income producer sales force to look primarily to the pay program for direction and focus
Vocabulary Alert: Flat commission and straight commission are differentThe term flat commission means a constant or unchanging rate Straight commission represents a different conceptThe term straight commission means no base salary, with all earnings achieved through the sales compensation program The following sentence correctly illustrates this usage: The compensation program features a straight commission with no base salary; the flat commission formula pays the same rate on all sales production
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Formula Types
High 2nd Commission Rate y% of Sales Production Compensation 1st Commission Rate x% of Sales Production Low Low High
Sales Production
Figure 5-4 Income Producer 2: Ramped Commission Progressive
Income Producer Plan 2: Ramped Commission While the flat commission formula does not change, a ramped commission schedule has more than one commission rate If the second commission rate is higher than the first, then the ramp is known as a progressive ramp Progressive ramps are also known as accelerators In Figure 5-4, we see that the commission rate increases after some level of accomplishment is achieved, in this case, $1 millionThe commission formula for a ramped commission schedule is shown in Figure 5-5 Observations A progressive ramp commission formula improves the motivation of a flat commission plan Use this approach when more sales are difficult, but very desirable to the company
Component
Progressive Ramp Commission Schedule Sales Performance To $1M $1M and Over Commission Rate 6% 8%
Commission Rate
1 Commission Rate nd 2 Commission Rate
Figure 5-5 Progressive Ramp Commission Schedule
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Income Producer Plan 3: Residuals/Trailing/Back-End Payouts For certain types of income producers, the full value of the transaction is not realized at the time of saleThere are different examples of this occurrence For example, in some cases, revenue continues on an annual basis such as with life insurance premiums Figure 5-6 is an example of a residual commission schedule used by the life insurance industryThe value of the recurring revenue has value on a declining basis, eventually providing no income to the salesperson by the fourth year Because the seller is classified as an income producer, these future earnings are usually assured unless abridged by the payment policy In some instances, there is a buyout provision to make payments on these future earnings if the income producer should leave prior to realization of these earningsTrailing is another expression for residuals In other cases, the final value of the transaction is not fully recognized until the disposition of an investment Companies configure numerous back-end payouts depending on their unique circumstances Back-end payouts are common in property and real estate development when the true value of the deal is not realized until the investment and/or property is sold at some future dateAs specified in contract language, the income producer will earn a percent of profits (normally) when the investment is sold, syndicated, liquidated, or transferred Observations Paying for future revenue or profits is the annuity element of income producer plans
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