Jan 6, 2022
Koalafi Response
4yThank you for providing your feedback. We continually evaluate performance versus company expectations, versus others at the company in the same or similar roles, the competitiveness of our product in the market along with the competitiveness of our pay structure. Throughout 2021 as a result of significant improvements in sales process, sales skill, tools and training, and product features, the expected performance for our team has increased along with the “tiering” needed to attain various levels of compensation. As we interview and hire people for our outside sales team we communicate expected total earnings (OTE) for base + commission of $110-120k/year and the 1Q2022 plan forecasts our average outside sales person to be in the $150-160k/year range based on actual 2021 performance. The top 25% of our team earns Substantially more than this. The commission structure for the majority of our sales team remains uncapped, base compensation has not been modified and benchmarking against competitors in our industry shows that we continue to offer compensation that is at the very top of the market pay scale. Also, as with any growing, customer-centric business, we continually evaluate our product offerings and the tools that our teams use to bring these products to market. Over the past year we have dramatically improved upon our market-leading product offerings by doing things like approving more customers for higher credit lines and with a shorter application than our competition. We have also improved the sales tools, marketing support and training available to our associates. As a result we have increased production across the company and raised performance expectations for our teams as we continue to grow.
- Bill, Chief Revenue Officer