commission-structures

Vocabulary Word

Definition

'Commission structures' are the plans or systems that determine how much a salesperson or broker will earn from each sale. It can be a percentage, a fixed amount or a combination of both.

Examples in Different Contexts

In insurance, 'commission structures' can vary widely, often based on policy types and volumes sold. An insurance executive might state, 'Our commission structures favor long-term policies with higher premiums.'

Practice Scenarios

Operations

Scenario:

The recruitment drive has been quite successful. It's important the recruiters are incentivised for their hard work.

Response:

Agree, we should consider a more rewarding commission structure for our diligent recruiters.

Finance

Scenario:

With several lucrative deals closed this month, perhaps we could review our reward policy for the finance team.

Response:

I concur, revising our commission structure could bolster the morale and productivity of our finance team.