• Home
  • Academy
  • Book Shop
  • About Us
    • Our Story
    • Our Sponsors
Global Sales Operations Association
  • Planning & Analysis
    Is Your Sales Dashboard Showing you the Right Metrics?

    Is Your Sales Dashboard Showing you the Right Metrics?

    Why do I need a Compensation Plan Designer?

    Why do I need a Compensation Plan Designer?

    Variable Compensation and the Gig Economy

    Variable Compensation and the Gig Economy

    7 Step Guide to Building a Profitable Sales Territory Plan (with Examples)

    7 Step Guide to Building a Profitable Sales Territory Plan (with Examples)

    “Look At Our Dashboards”

    “Look At Our Dashboards”

    Introduction to Sales Operations

    US Tech Market Forecast Shows a Best-Case 5% Drop in 2020

    Forecasting in a Time of Uncertainty: Tech Markets

    It’s Time to Re-prioritize Accounts and Re-balance Routes to Market

    It’s Time to Re-prioritize Accounts and Re-balance Routes to Market

    Deal Optimization – Key to Survival

    Deal Optimization – Key to Survival

  • Sales Compensation
    • All
    • ICM Tools
    • Incentive Travel
    • Plan Design

    Sales VP Compensation – Sales Plan or Executive Plan?

    Does the size of our company determine which SPM platforms we should evaluate?

    Does the size of our company determine which SPM platforms we should evaluate?

    What is the Difference Between a Commission and a Bonus?

    What is the Difference Between a Commission and a Bonus?

    How much of our sales team should we include in our President’s Club?

    How much of our sales team should we include in our President’s Club?

    Sales Compensation Plan Templates

    Sales Compensation Plan Templates

  • Excellence
    The 21 Buying Methodologies

    The 21 Buying Methodologies

    New Sales Leader? Avoid these 3 Common Mistakes

    New Sales Leader? Avoid these 3 Common Mistakes

    What’s Your Ideal Customer Profile

    What’s Your Ideal Customer Profile

    A Guide to OKRs for the Sales Ops Leader

    A Guide to OKRs for the Sales Ops Leader

    4 Keys to Successful Sales Management Meetings

    4 Keys to Successful Sales Management Meetings

    Sales Math: The Impact of Discounting

    Sales Math: The Impact of Discounting

    Revenue Operations Holds the Key to Unlocking Growth in 2022

    Revenue Operations Holds the Key to Unlocking Growth in 2022

    Sales Math – Pipeline Principles

    Sales Math – Pipeline Principles

    What’s The Purpose Of A Pipeline Review?

    What’s The Purpose Of A Pipeline Review?

  • Enablement
    The 21 Buying Methodologies

    The 21 Buying Methodologies

    What’s Your Ideal Customer Profile

    What’s Your Ideal Customer Profile

    The 5 Levels of Relationship in Sales

    The 5 Levels of Relationship in Sales

    What’s The Difference Between Sales Enablement And School?

    What’s The Difference Between Sales Enablement And School?

    Training Reinforcement: Is it Back to Business as Usual?

    Training Reinforcement: Is it Back to Business as Usual?

    Give your Sales People what they need!

    Give your Sales People what they need!

    Which Sales Methodology?

    Which Sales Methodology?

    The Rise of Virtual Selling and the Implications for Sales Enablement

    The Rise of Virtual Selling and the Implications for Sales Enablement

    A Sales Enablement Conundrum: Who’s Coaching the Coach?

    A Sales Enablement Conundrum: Who’s Coaching the Coach?

  • Technology
    Data Science and Sales Operations: Driving Greater Predictability Together in Uncertain Times

    Data Science and Sales Operations: Driving Greater Predictability Together in Uncertain Times

    Building a B2B SalesTech Stack for Growth

    Building a B2B SalesTech Stack for Growth

    Does the size of our company determine which SPM platforms we should evaluate?

    Does the size of our company determine which SPM platforms we should evaluate?

    The Boom In Sales Technology

    The Boom In Sales Technology

    Setting your 2021 CRM Enhancement Priorities

    Setting your 2021 CRM Enhancement Priorities

    Do You Really Need Sales Automation?

    Do You Really Need Sales Automation?

    How the New AI – Authentic Intelligence – Can Improve Sales Productivity

    Use Tableau to Track the Virus Through Actionable Data

    Use Tableau to Track the Virus Through Actionable Data

    “You Are Doing Everything Wrong!”

    “You Are Doing Everything Wrong!”

  • Performance
    What to Measure in Sales?

    What to Measure in Sales?

    The Pipeline and Forecast are Different

    The Pipeline and Forecast are Different

    Ignite Your Sales Performance at the Intersection of Purpose and Passion

    Ignite Your Sales Performance at the Intersection of Purpose and Passion

    How Sales Reps Are Hitting Quotas Without Hitting the Streets

    How Sales Reps Are Hitting Quotas Without Hitting the Streets

    Buying Is About People, Why Isn’t Selling?

    Buying Is About People, Why Isn’t Selling?

    The secret to High Performing Sales Teams – Analytics

    The secret to High Performing Sales Teams – Analytics

    Variable Compensation and the Gig Economy

    Variable Compensation and the Gig Economy

    On Measuring Sales Performance

    On Measuring Sales Performance

    “Look At Our Dashboards”

    “Look At Our Dashboards”

No Result
View All Result
  • Planning & Analysis
    Is Your Sales Dashboard Showing you the Right Metrics?

    Is Your Sales Dashboard Showing you the Right Metrics?

    Why do I need a Compensation Plan Designer?

    Why do I need a Compensation Plan Designer?

    Variable Compensation and the Gig Economy

    Variable Compensation and the Gig Economy

    7 Step Guide to Building a Profitable Sales Territory Plan (with Examples)

    7 Step Guide to Building a Profitable Sales Territory Plan (with Examples)

    “Look At Our Dashboards”

    “Look At Our Dashboards”

    Introduction to Sales Operations

    US Tech Market Forecast Shows a Best-Case 5% Drop in 2020

    Forecasting in a Time of Uncertainty: Tech Markets

    It’s Time to Re-prioritize Accounts and Re-balance Routes to Market

    It’s Time to Re-prioritize Accounts and Re-balance Routes to Market

    Deal Optimization – Key to Survival

    Deal Optimization – Key to Survival

  • Sales Compensation
    • All
    • ICM Tools
    • Incentive Travel
    • Plan Design

    Sales VP Compensation – Sales Plan or Executive Plan?

    Does the size of our company determine which SPM platforms we should evaluate?

    Does the size of our company determine which SPM platforms we should evaluate?

    What is the Difference Between a Commission and a Bonus?

    What is the Difference Between a Commission and a Bonus?

    How much of our sales team should we include in our President’s Club?

    How much of our sales team should we include in our President’s Club?

    Sales Compensation Plan Templates

    Sales Compensation Plan Templates

  • Excellence
    The 21 Buying Methodologies

    The 21 Buying Methodologies

    New Sales Leader? Avoid these 3 Common Mistakes

    New Sales Leader? Avoid these 3 Common Mistakes

    What’s Your Ideal Customer Profile

    What’s Your Ideal Customer Profile

    A Guide to OKRs for the Sales Ops Leader

    A Guide to OKRs for the Sales Ops Leader

    4 Keys to Successful Sales Management Meetings

    4 Keys to Successful Sales Management Meetings

    Sales Math: The Impact of Discounting

    Sales Math: The Impact of Discounting

    Revenue Operations Holds the Key to Unlocking Growth in 2022

    Revenue Operations Holds the Key to Unlocking Growth in 2022

    Sales Math – Pipeline Principles

    Sales Math – Pipeline Principles

    What’s The Purpose Of A Pipeline Review?

    What’s The Purpose Of A Pipeline Review?

  • Enablement
    The 21 Buying Methodologies

    The 21 Buying Methodologies

    What’s Your Ideal Customer Profile

    What’s Your Ideal Customer Profile

    The 5 Levels of Relationship in Sales

    The 5 Levels of Relationship in Sales

    What’s The Difference Between Sales Enablement And School?

    What’s The Difference Between Sales Enablement And School?

    Training Reinforcement: Is it Back to Business as Usual?

    Training Reinforcement: Is it Back to Business as Usual?

    Give your Sales People what they need!

    Give your Sales People what they need!

    Which Sales Methodology?

    Which Sales Methodology?

    The Rise of Virtual Selling and the Implications for Sales Enablement

    The Rise of Virtual Selling and the Implications for Sales Enablement

    A Sales Enablement Conundrum: Who’s Coaching the Coach?

    A Sales Enablement Conundrum: Who’s Coaching the Coach?

  • Technology
    Data Science and Sales Operations: Driving Greater Predictability Together in Uncertain Times

    Data Science and Sales Operations: Driving Greater Predictability Together in Uncertain Times

    Building a B2B SalesTech Stack for Growth

    Building a B2B SalesTech Stack for Growth

    Does the size of our company determine which SPM platforms we should evaluate?

    Does the size of our company determine which SPM platforms we should evaluate?

    The Boom In Sales Technology

    The Boom In Sales Technology

    Setting your 2021 CRM Enhancement Priorities

    Setting your 2021 CRM Enhancement Priorities

    Do You Really Need Sales Automation?

    Do You Really Need Sales Automation?

    How the New AI – Authentic Intelligence – Can Improve Sales Productivity

    Use Tableau to Track the Virus Through Actionable Data

    Use Tableau to Track the Virus Through Actionable Data

    “You Are Doing Everything Wrong!”

    “You Are Doing Everything Wrong!”

  • Performance
    What to Measure in Sales?

    What to Measure in Sales?

    The Pipeline and Forecast are Different

    The Pipeline and Forecast are Different

    Ignite Your Sales Performance at the Intersection of Purpose and Passion

    Ignite Your Sales Performance at the Intersection of Purpose and Passion

    How Sales Reps Are Hitting Quotas Without Hitting the Streets

    How Sales Reps Are Hitting Quotas Without Hitting the Streets

    Buying Is About People, Why Isn’t Selling?

    Buying Is About People, Why Isn’t Selling?

    The secret to High Performing Sales Teams – Analytics

    The secret to High Performing Sales Teams – Analytics

    Variable Compensation and the Gig Economy

    Variable Compensation and the Gig Economy

    On Measuring Sales Performance

    On Measuring Sales Performance

    “Look At Our Dashboards”

    “Look At Our Dashboards”

No Result
View All Result
Global Sales Operations Association
No Result
View All Result
Home Performance

Variable Compensation and the Gig Economy

Varicent by Varicent
in Performance, Planning
Reading Time: 3 mins read
101 7
0
Variable Compensation and the Gig Economy
262
SHARES
1.5k
VIEWS

The Gig-Economy is the unique convergence of technology and talent, allowing the individual to participate in productivity. In 2018 the U.S. Bureau of Labor and Statistics reported that roughly 16.5 million participants in the workforce are part of this “alternative work arrangement.” In the U.K., the number looks to be around 5 Million.

We see enterprise and mid-sized organizations growing a workforce inclusive of alternative work arrangements. Some of the most talented minds today want to balance work with lifestyle choices. Amazon, Uber and LegalZoom are some of the most notable names.

Talent sourcing and talent development are two areas that Human Resources is focused on currently. Once this talent is mainstream, as many indicators point, the next area of concern will logically be rewards and talent.

RelatedPosts

What to Measure in Sales?

The Pipeline and Forecast are Different

Is Your Sales Dashboard Showing you the Right Metrics?

Ignite Your Sales Performance at the Intersection of Purpose and Passion

How will rewards change in the Gig-economy?

Fortunately, our good friends in Finance have some great concepts they’ve been using for the areas of Channel and Roster Management, which apply here.

For many of the Gig workers, the hourly grind at a desk or traditional doesn’t apply. Still, the results are needed. Productivity must be reached. To drive date sensitive programs, an “Early Delivery Bonus” might be the accelerator that recognizes Gig staff for faster work. Alternatively, when efficiency is something to consider, a “Cost Control Commission” might be applicable for delivering under budget, with acceptable quality. Finally, think about the “Retention Bonus” that is also a traditional tool from Finance that can be applied in the new paradigm. Trusted, repeat participants, supporting your business may be recognized at a lower total cost for selecting you than a full-time employee.

While the Gig-economy is relatively new, the fundamentals of business still apply. Lessons from other verticals such as Financial Services show that independent brokers sell lines of business with the providers that pay best and are easiest to work with. Similarly, Gig-economy workers are looking for those who are going to treat them better than the alternative.

Why should I consider Gig workers?

The 2017 report, Platform Sourcing How Fortune 500 Firms are Adopting Online Freelancing Platforms, by the University of Oxford shows the growing adoption of this practice. The motivations they identify include easy access to scale workforce, skills, and expertise. They also show an ability to reduce costs and remove hiring barriers. These areas show an improvement to the flexibility to address the changes to a market, and the speed to spin up new products or pilot programs. If you are part of high-tech or business-minded with a focus on speed, the Gig-economy may already be part of your practice. Other forward-leaning organizations should take note of what’s next.

How can I manage so many variables?

It’s time to start to think of those advantages in your market. What will help to pay your workers accurately and on-time? What will make you the preferred vendor? Consider Sales Performance Management through Varicent. Complex and highly variable plans are where our clients find our “sweet spot.” Organizations from sizes of Enterprise to Boutique use our application to make sure everyone on a variable pay plan is paid correctly. With full transparency, each employee, full time or Gig, is allowed to see just how much they are paid, for which line of business, and when the money is transferred into their account. Take a look at our Solutions to learn how Varicent can help your organization.

Tags: Compensation
Previous Post

It’s Not About The Metrics! It’s What You Do About Them!

Next Post

It’s Not Always About The Deal

Varicent

Varicent

Varicent is an innovative software provider delivering measurable improvements for customers through our industry-leading incentive compensation and sales performance management solutions. Our team’s in-depth understanding of and experience in assisting sales organizations to improve performance and drive profitability, combined with our robust network of best-in-class partners across the globe enable us to provide solutions to enterprise and mid-market businesses looking to increase sales efficiency and improve effectiveness.

Related Posts

What to Measure in Sales?
Performance

What to Measure in Sales?

1.6k
The Pipeline and Forecast are Different
Performance

The Pipeline and Forecast are Different

1.7k
Is Your Sales Dashboard Showing you the Right Metrics?
Planning

Is Your Sales Dashboard Showing you the Right Metrics?

1.7k
Next Post
It’s Not Always About The Deal

It’s Not Always About The Deal

The Complete Guide to Building a Sales Forecast

The Complete Guide to Building a Sales Forecast

Please login to join discussion
  • About
  • Privacy & Policy
  • Contact

© 2021 SOPSA -The Community for Sales Operations Professionals - by Global Sales Operations Association.

No Result
View All Result
  • Articles
  • Calendar
  • Community
  • Courses
  • Academy Home
  • Podcast

© 2021 SOPSA -The Community for Sales Operations Professionals - by Global Sales Operations Association.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Setup Community Access

-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00