Year-over-year (YoY) plan refreshes are a challenging time for Sales Compensation Administrators. Juggling the closure of the previous fiscal year alongside the deluge of plan changes, and timelines for the new fiscal year can be overwhelming. The ticking clock, coupled with uncertainties surrounding quotas, target variables, role changes, etc. often results in stress and sleepless nights for the Sales Comp Team. In this blog post, we explore strategies to ease the burden and ensure a smoother transition during this critical period. 

  1. Build a Core Team:

Identify a dedicated core team of 4-5 individuals representing all stakeholders involved in the YoY change process. Having a cross-functional team ensures that different perspectives are considered, dependencies highlighted, and responsibilities are distributed effectively. 

  1. Develop a Detailed Timeline:

Create a comprehensive timeline for the rollout of the new fiscal year, outlining specific tasks and dependencies on individuals or teams. Seeing their names associated with tasks can motivate people to prioritize and adhere to deadlines. This detailed timeline serves as a roadmap, guiding the entire team through the process. 

  1. Real-Time Updates and Daily Meetings:

Keep the timeline document updated in real time. Regularly scheduled, brief standing meetings with the core stakeholder team (10 minutes or less) can facilitate quick updates, and issue resolutions, and ensure everyone is on the same page. This consistent communication helps in maintaining a proactive approach to challenges that may arise. 

  1. Embrace the Importance of Plan B:

Acknowledging the unpredictability of real-world scenarios, it’s crucial to have a well-thought-out Plan B. This contingency measure should have clearly defined criteria for when, how, and why it needs to be invoked. Outline the steps and specify the duration after which to return to Plan.  

  1. Get Professional Help:

We are here to partner with you and relieve you and your team of the YoY refresh burden. Call us! 

In the high-stakes game of YoY plan refreshes, having a well-thought-out approach can make all the difference. Building a strong core team, creating a detailed timeline, maintaining real-time updates, and embracing the importance of a Plan B are essential components for a successful transition. By implementing these strategies, Sales Compensation Administrators can navigate the storm of YoY changes with confidence, reducing stress and ensuring a smoother process for everyone involved.