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    Incentives, Commissions, & Bonuses: Supporting Your Institution's Sales While Complying with the CFPB

    Tuesday, August 21, 2018 - 12:00 PM - 1:30 PM ET
    $149.00
    *
    Upon completion of this webinar, participants will be able to: (1) Identify which sales compensation models are best for your organization various sales positions. (2) Understand basic sales compensation structure and the products and services are best to offer incentives, commissions or bonuses. (3) How to organize your sales compensation structure to engage Star Performers happy, Core Performers engaged and bring up Laggards to acceptable performance.

    This is a rebroadcast of a webinar that was recorded on the 9th of May 2017. 

    When you register for this webinar, you will receive a complimentary 5-Part Toolkit, which includes items such as:

    (1) Sales Quotas Policy Template, which may be modified to fit the needs of your Insititution; and, 

    (2) The CFPB's Bulletin on Incentives and the Risks of Consumer Harm

    Overview

    Sales commissions, incentives, or bonuses? Which should you pay, one or all three? Do you know the difference between them? How much do you pay, and what should you pay it on?  What employees should be eligible for sales pay? 

    If you have a sales team with some form of sales compensation plan, you have likely asked yourself these questions. They can be difficult to answer and sometimes confusing.  In this course we will review each of these questions and more.  When you leave this training you will have a clear understanding of what a sales comp plan should look like at your Financial Institution and clarity how to implement or improve one.  

    Covered Topics

    • What incentive structures work best for each sales position
    • What not to incent and other mistakes sales leaders make with sales compensation
    • How to avoid levels of entitlement with your compensation plan
    • The difference between an incentive program, commission structure, and bonus; and the advantages and disadvantages of each
    • How much should your sales employees be able to earn in incentives

    Who Should Attend?

    This informative session is (designed for, would best suit, is directed to, etc.) HR Leadership, Senior Sales Leadership, Branch VP, Call Center VP, Lending VP, Business Services VP(s), Mortgage VP, and all other department heads who have sales producing employees and functions.   

    Products specifications
    CE Credits 2.5
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    This is a rebroadcast of a webinar that was recorded on the 9th of May 2017. 

    When you register for this webinar, you will receive a complimentary 5-Part Toolkit, which includes items such as:

    (1) Sales Quotas Policy Template, which may be modified to fit the needs of your Insititution; and, 

    (2) The CFPB's Bulletin on Incentives and the Risks of Consumer Harm

    Overview

    Sales commissions, incentives, or bonuses? Which should you pay, one or all three? Do you know the difference between them? How much do you pay, and what should you pay it on?  What employees should be eligible for sales pay? 

    If you have a sales team with some form of sales compensation plan, you have likely asked yourself these questions. They can be difficult to answer and sometimes confusing.  In this course we will review each of these questions and more.  When you leave this training you will have a clear understanding of what a sales comp plan should look like at your Financial Institution and clarity how to implement or improve one.  

    Covered Topics

    • What incentive structures work best for each sales position
    • What not to incent and other mistakes sales leaders make with sales compensation
    • How to avoid levels of entitlement with your compensation plan
    • The difference between an incentive program, commission structure, and bonus; and the advantages and disadvantages of each
    • How much should your sales employees be able to earn in incentives

    Who Should Attend?

    This informative session is (designed for, would best suit, is directed to, etc.) HR Leadership, Senior Sales Leadership, Branch VP, Call Center VP, Lending VP, Business Services VP(s), Mortgage VP, and all other department heads who have sales producing employees and functions.   

    Products specifications
    CE Credits 2.5
    Presenters:

    Nick Brown

    Nick Brown is a financial retail sales expert.  He has over 15 years’ experience working in various sales and training positions in the credit union industry.  Currently, he owns Nick Brown Consulting which is dedicated to helping financial institutions understand that sales is their only business.  In his humble opinion, if you are not selling to your members and customers, you are not truly serving their financial needs. 

    In his last 9 years with a large, progressive credit union Nick lead a highly successful outbound sales department with 16 outbound agents selling various products and services.  In 2011 a leading financial research company recognized his team as one of the top outbound call centers in the credit union industry and utilized their structure and performance as a model for other institutions to follow. 

    As a sales consultant, Nick works to deliver effective and customized sales strategies for bank and credit union leadership teams, and industry specific sales training to front line branch and call center employees.  Nick earned his bachelor’s degree from Utah State University in business.  He is the husband to an amazing woman and father to 3 equally amazing children. 

    ,

    Carly Souther

    Carly Souther is General Counsel and COO at iTod. She is a member of the Florida Bar and has a J.D. from The Florida State University College of Law. She provides in-depth legal research and analysis of banking rules, regulations, and case law for iTod's speakers and clients alike. Contact Carly at carly@itod.plus