Are you getting paid what you are worth? Are you making as much or more than your peers? You certainly hope so. Find out your value with this tool. An automatic value score will be calculated for you.
Why Does this Matter?
You have paid your dues. You have 15-25 years of experience starting as a sales rep. You became a Sales Manager, followed by a Sales Director. You are now running a multi-state region and have a big quota. You are one step away from the big job. You want to be paid fair market value. If you are an ‘A’ player, you expect to be above market value. Here is the challenge: Who determines your market value?
What is Market Value?
Most companies are using the wrong definition of market value. Here is how it unfolds: The CEO and CFO gives your boss the new yearly number. As part of the yearly planning process, your boss tells HR to research compensation in the market. He is using it to build plans. HR doesn't have time to do a compensation benchmark properly. They go online for free resources to understand "market value". Salary.com gives them a generic output of how much regional sales leaders earn. Between this and your current pay,value is set. Ouch.
A New Definition of Market Value
You deserve credit for the value you create in the sales force. Sales leaders need to reshape the definition of market value. This exercise will give you evidence to what you are worth. I am regularly asked by VPs what they need to do get the top job. Making the number is table stakes. Why? CEOs know bad leaders with great territories or great products make the number. High tides raise all ships. Conversely, CEO’s know there are high growth guys in low growth companies running in place. These guys are victims of circumstance.
Sales Leader’s Value Levers
There are 6 areas where sales leaders of today can create personal market value. This tool will give you the results. All you need to do is answer a few yes/no questions. You will receive a rating. It will tell you if you are worth more, same or less than the market. Below is a snapshot of some of the questions. There are 18 in total.
The new hires in your region reach full productivity faster than the company average?
You have at least 1 manager per year promoted from your region?
Did you have less than 5% ‘A’ player turnover in your region last year?