Compensation Master enables brokers to determine compensation plans and business modeling to promote agent retention. This software solution creates a business blueprint for brokers to follow. It is designed to recruit and retain your agents, systematically compensate your agents, and plan for long-term corporate growth. Compensation Master works with you to create a unique value proposition for your sales force that is expressed through the services you offer then and your commission plan design.
Compensation Master’s system has 5 steps:
- Start with a value proposition for your sales force- Compensation Master professionals will begin by asking your agents what they want; they’ll also ask the managers and support staff. Then they will create a competitive analysis for your market. Once this information has been analyzed, Compensation Masters will help you form business model, goals and vision for the future; the result is a value proposition.
- Design a compensation plan- Compensation Master’s unique methodology will create a mathematical model of your business. Using this model they will design commission structures that give your sales associates motivation to succeed and ensure your financial stability.
- Know what will happen ahead of time- Using the mathematical model of your business, Compensation Master professionals will analyze the projected changes in your business, as a result of the new commission plans.
- Introduce the new plan- Compensation Master’s uses a change management strategy to assist your management in the introduction of your new commission plan to your sales force. Their coaching aims to ease the transition and support the sales force.
- Watch the revenue and profitability increase: Compensation Master reports that with the help of their system, participating brokerages have reported a 30% increase in revenue, and a sales force retention average of 97.6%.
Compensation Master’s system has been used to design compensation plans for more than 50,000 sales associates worldwide.