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D099 Module 9
Sales Compensation
| Question | Answer |
|---|---|
| Salary plus commission | When salespeople receive regular payment in addition to compensation in return for sales generated, they are receiving both a salary and a commission |
| Straight commission | A form of monetary compensation in which the amount depends upon discretion, performance, or results achieved |
| Salary only | A form of monetary compensation that an employer pays regularly in return for an employee's accomplishment of certain tasks and goals |
| Recoverable draw | A payout against commission that a company expects to receive back |
| Non-recoverable draw | A payout that the company does not necessarily expect to get back |
| Draw against commission | A method of paying commission by which the employee receives a payout at regular intervals |
| Performance appraisal system | A regular review of an employee's job performance and overall contribution to a company |
| Performance incentive | Used to reward employees for achieving a specific objective |
| Extrinsic rewards | Rewards that are external to the work itself. They are administered externally—that is, by someone else (usually management) |
| Intrinsic rewards | Rewards that are related directly to performing the job. They are often described as "self-administered" rewards |
| Distributive justice | Employees receive (at least a portion of) their rewards as a function of their level of contribution to the organization |
| Equality | All individuals within one job classification would receive the same, or at least similar, rewards |
| Stock options | Employees have the opportunity to buy company stock at a fixed price |
| Team pay | Established for an entire team or group to encourage them to meet a specified goal |
| Gain-sharing | Employees are financially rewarded based on the success of the organization |
| Non-monetary | Is not financial and is often given to employees to keep their morale high or to recognize them in a way that has minimal financial impact to the company bottom line |
| Monetary | Financial, meaning that money is involved |
| A perk | Discretionary benefit, such as free hotel stays, a company car, and lunch allowances |
| Merit pay | A compensation program that links compensation to how well the employee performs within the job, and it is normally tied to performance appraisals |
| Piece-rate | The employee is paid for each unit of production at a fixed rate |
| Sales performance incentive fund | A financial incentive that encourages sales for a specific item or group of items |
Created by:
kim.miller