Verizon announces a new comp plan for retail today. Looks as though RIS will no longer hurt and there will be individual performance boosters for commission multipliers. Supposedly the targets will be more “transparent”, ok… we will see… 🙄 More details to come later in the day.
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“ Every time we have had a commission change it has screwed reps out of a lot of money. ”
Pretty much the only reason they would change it. Cant have people making money.
Great! So you mean the 5 bar system that not one single person up to my Area President can explain is going to dictate my individual comp bonus?! Wonderful…
Hard to imagine making less in commission after this last comp plan. A complete mo--n made the last one. Hoping any thought at all went into this one.
This is terrible. The only "individual" aspect of this entire comp plan is that if you get a 5 bar contribution you get a $200 bonus. That's it. There's no multiplier. There's no individual award for high performing metrics. Every 5 bar gets a small bonus. The terrible part of this is that everyone is required to sell 5g home internet. What if we have no 5g in our area? We won't get a commission I guess.
Let the “ slamming “ begin. Multipliers based on individual performance and contribution reporting. HA ! Verizon had to do something since corporate store retail numbers have tanked for two years. Basically the huge comp change is Verizon leadership admitting that doing away with individual commission was a big mistake. The new comp plan is a wolf in sheep’s clothing.
Comp changes happen for only two reasons.
- the comp plan no longer aligns with the business model.
- to increase Verizon’s bottom line (pay out less to employees)
This situation is unfortunately number 2.
Good news is that a commission plan can always be gamed to your advantage. Work with your teams, create a plan don’t let Verizon win. If played right this comp plan can be very lucrative with less stress
Been here 10 years and not once has it changed for the better. Not going to hold my breath
Leadership had a target of 90% payout new vs. old when designing this comp change. These changes are being implemented to increase shareholder value, not employee bank accounts.
Every time we have had a commission change it has screwed reps out of a lot of money. Take this with a grain of salt until you see the details. I'm mentally prepared for the worst.