To create a commission plan, proceed as follows:
- In any page, click on the Modeling tab (1).
- Click on Commission Plan (2) tab.
- In the Plans heading, click (3)
The Add New Production Plan definition box is shown. To create a new plan, proceed as follows:
- Insert a Plan Name (1)
- Define the validity period for this plan – set Dates (2)
- Set the Frequency (3) of renewal of the plan – from Monthly to Yearly
- Click on Use Weight (4) checkbox in case an On Target Business is applicable in this plan. Approval adds a Weight column where a weight value (in percentage) can be added for bonus incentive.
- Click on Use Cycle (5) checkbox to add a Cycle column for the commission. This option is required in case a sequence of calculations is requested. This option is relevant when using custom formulas, using reference to a cycle for validation. That is, this option enables creating a commission based on meeting previous conditions, that they themselves are a function of other conditions (hence, cycle).
- Click on the Discard After End Date (6) checkbox in order to prevent removal of the plan after the defined “End Date” (2). As a default the commission plan is copied into the next period, in accordance with the Frequency (3) . If you keep the option checked (by default), the commission plan will be discarded after the selected expiry date (2).
- Click on the Result (7) checkbox to add a Score column. This option should be used in case results are evaluated for scoring, instead as monetary reward. This option is usually used when:
- Representative accumulates scores that, eventually, will be transformed into a monetary incentive.
- Representative accumulates scores that eventually, will be converted into a prize.
- Check the Achievement Type (8) box if you use a Balanced Scorecard (BSC) method for tying performance to compensation.
- Type a free text Comment in the appropriate box (9).
- Press OK (10) to complete the new Commission Plan definition.
The new Commission Plan (1) is displayed with the selected columns (2) in the right-hand screen.