Posts Tagged ‘commission structure’

Payroll – using excel to plan your new hires

August 19, 2009 Leave a comment

We use excel for the planning and analytics. Many people ask me how companies get into the situation where they cannot afford to stay in business because they’ve over extended themselves. My first rule in good financial management is paying attention to your finances. This means more than just going out and hiring someone at the “market” rate. Once you have that information you have to lay it out in terms of the true cost and make sure you can afford that rate. Then you either know you can, or you have to negotiate with someone – maybe you can offer more than just a salary, but a great opportunity for the person to grow & learn, or maybe you can lower the salary to something you can afford as a base and make the rest performance based.

We also show you how you can calculate and determine your commission structure for sales people. The power of excel is in being able to plan things before you commit and start actually spending money so that you can be sure of what you can afford. This is the critical mistake so many businesses make because they don’t do this.

Please enjoy the web cast by clicking here: