Bazaarvoice has extended its incentive programme to pay its entire workforce incentive compensation plans in multiple currencies.
The consumer ratings and reviews network organisation launched the programme, provided by Xactly, when its manual compensation practices were not deemed to be at an acceptable level in terms of auditability and accuracy.
Incentive compensation plans can vary, covering the management and payment of anything from shares to bonuses to non-monetary rewards, but in the case of Bazaarvoice it refers to the bonuses it offer its employees.
The organisation will put together a set of objectives such as ‘sell X product’ and create a reward for this, such as ‘pay each employee 10% of the deal’.
Xactly automates this process and allows employees to check at any time in the month to see how much more they have earned or how close they are to reaching their goal.
The aim of automating its compensation initiatives across 10 countries is to enable Bazaarvoice to meet these requirements, while also scaling its compensation process to boost employee motivation and performance.
Since the launch, Bazaarvoice has seen motivation levels increase to 95% among its sales compensation team.
Marisa Massie, controller at Bazaarvoice, said: “It’s very exciting to completely let go of that finance versus sales tension.
“Sales and finance leadership have the intelligence they need to make better, faster decisions, and sales representatives have the visibility they need to sell more effectively, regardless of their location.
“It has enabled us to completely re-imagine how we use compensation to drive performance and results.”