Revolutionizing Global Sales Compensation: Lessons from Siemens' Head of Sales Comp Center of Excellence
Apr 30, 2024
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Don Hubbartt, Head of Sales Compensation at Siemens, discusses revolutionizing global sales compensations by creating a center of excellence. He shares insights on assessing organizational readiness, aligning with leadership vision, and collaborating with cross-functional stakeholders. Topics include the evolution of sales roles, AI integration in sales, and implementing a global compensation framework.
Assess current organizational readiness for sales compensation changes.
Understand leadership's vision for effective sales compensation strategies.
Foster collaboration among cross-functional stakeholders for successful implementation of sales incentives.
Deep dives
Introduction to Season 2 and Guest Speaker
Season 2 of the Sales Computations Show focuses on sharing the latest Sales Performance research and enabling listeners to make smarter decisions based on real-world data and behavioral psychology. The episode introduces Don Hubbard, head of Sales Computations at Siemens, known for his expertise in incentive design and industry best practices.
Journey into Sales Compensation
Don Hubbard shares his journey into sales compensation, reflecting on starting as a junior comp analyst with minimal knowledge to becoming a strategic leader in the field. He emphasizes the importance of continuous learning through networking and hands-on projects to build expertise over time, encouraging others to enter the technical yet rewarding space.
Globalization and Inside Sales Evolution
Discussions around globalization trends highlight the impact of global growth and remote customer interactions post-pandemic. The evolution of inside sales roles and customer success positions reflects changing customer behaviors and the need for strategic thinking in aligning incentives with the sales process.
Center of Excellence and Global Consistency
Exploration of Sales Comp Centers of Excellence underscores the importance of global coverage and best practices adoption. Building a community of collaboration among sales, finance, and HR stakeholders is crucial for ensuring consistent and effective sales compensation practices globally.
Future Trends in Sales Compensation
Future trends in sales compensation focus on emerging roles like inside sales and customer success, alongside investments in technology tools for transparency and automation. Discussions on the motivation behind variable compensation and the importance of aligning incentives with business goals highlight ongoing challenges in sales comp strategy.
Networking and Content Consumption
Don Hubbard shares his approach to networking and consuming information from various resources to enrich knowledge and stay updated on industry trends. Encouraging a diverse content consumption approach and curiosity in exploring different perspectives aligns with staying informed and adaptable in the sales compensation domain.
Welcome to The Sales Compensation Show, where we explore the latest trends, insights, and innovative solutions in the world of sales performance management. In this episode, we are delighted to welcome Don Hubbartt, the Head of Sales Compensation Center of Excellence at Siemens.
With over 17 years of experience at Siemens and diverse leadership roles in compensation and HR across renowned companies, Don brings a wealth of expertise to the realm of sales incentives. As a WorldatWork member and former president of the Chicago Compensation Association, Don is widely recognized for his contributions to the field and his innovative approaches to incentive design, governance, and industry best practices.
In this engaging conversation, Don shares his journey into the sales compensation space, highlighting the evolution of sales roles and strategies over the past 15-20 years. He delves into the importance of building a global sales compensation center of excellence to drive consistency, simplification, and automation across the organization.
Discover the three key lessons Don has learned in implementing this transformative initiative: assessing the current state and readiness of the organization, understanding leadership's appetite and vision, and fostering a collaborative network of cross-functional stakeholders. Gain valuable insights and practical advice that will empower sales compensation leaders to revolutionize their strategies and unlock the full potential of their sales teams.
Whether you're a seasoned sales compensation professional or looking to elevate your organization's approach, this episode is a must-listen, packed with expertise and innovative perspectives from an industry trailblazer.
The Sales Compensation Show is handcrafted by our friends over at: fame.so
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Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode