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Millions wasted on 'payment by results' culture, research indicates
Research has underlined the problem of 'payment by results' culture.
The YouGov study commissioned by Xactly, revealed a lack of business control of the billions of pounds that are 'paid by results' to permanent employees in the UK every year.
It was found that 23 per cent of commission-based salespeople surveyed had been overpaid, with five per cent confessing to receiving an extra 50 per cent or more of their salary.
According to the Annual Survey of Hours and Earnings, 1.4 per cent of salaries are 'paid on results,' amounting to £5.4bn every year.
Christopher Cabrera, chief executive officer at Xactly, said: "The results indicate that UK companies are paying thousands, and sometimes millions of pounds in excess compensation. That’s money UK business can ill afford to lose in the current economic climate."
The YouGov survey also showed that 21 per cent of sales employees had been more than 50 per cent above a monthly target, while 35 per cent had been over 20 per cent above.
Thomsons Online Benefits can show you how to derive real value from your employee rewards, ensuring they meet business objectives and engage employees.
Posted by Editorial Team
July 12th 2012
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