Are Business Developers making all the money while banks take all the risk?
Business Developer salaries and commissions seem to swell at disproportionate rates to related loan volume, without any accountability for what happens after closing. Many compensation plans are stuck on past performance or reactive what the competition pays, rather than the value of the developer's contributions to today's profits and portfolios.
This spiraling compensation cycle has resulted in many overpaid – yet poor performing – salespeople, and no profit for the bank. This training session shows you how to avoid this trend, and covers alternative ways to think about compensation plans that are more aligned with the benefits received by the bank, yet competitive with other parties.Learning Objectives
By attending this 90-minute audio conference, you will learn:
About Your Speaker
- Why many compensation plans send the wrong message to business developers
- How "Super Stars" can often do the bank more harm than good
- What money cannot buy from a good business development team
- The "Bear Bryant" model for greatness – compensation planning that follows his strategy to win
- How to design a compensation model that reflect the bank's objectives: loan growth, loan quality, or both
- How to move the conversation off of money and on to more important rewards
- Considerations of an important fork in the road: annually-resetting incentives vs. rolling averages
Charles Green is a recognized small business authority with over 30 years of advising, financing, and investing experience. He regularly consults with business owners and bankers, writes about financial topics, and teaches finance through seminars and conferences.