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2 | README | ||||||||||||||||||
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4 | ๐ Hi! Make a copy of this model to play around with it yourself. | ||||||||||||||||||
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6 | What does this model help me do? | ||||||||||||||||||
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8 | If you're a manager or founder, this worksheet helps you model out a compensation plan for your CSM function. | ||||||||||||||||||
9 | You can use it to see whether, in a particular compensation model or structure, how much your CSMs would earn for their performance and how those earnings produce ROI for the business. | ||||||||||||||||||
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11 | If you're a CSM, this worksheet helps you forecast your potential take-home pay given certain performance targets and outcomes. | ||||||||||||||||||
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13 | What are the main inputs to this model? | ||||||||||||||||||
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15 | The model allows you to experiment with a commission based plan for CSMs, a MBO/Bonus plan for CSMs, or a mix of both. | ||||||||||||||||||
16 | Input your target base salary for CSMs in the model tab, cell D6 | ||||||||||||||||||
17 | Input your variable commission potential for CSMs in the model tab, cell D7 (leave this empty if you have no commission component) | ||||||||||||||||||
18 | Input your bonus potential for CSMs in the model tab, cell D8 (leave this empty if you have no bonus component) | ||||||||||||||||||
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20 | If you're experimenting with a commission/variable plan: the model allows you to create 2 top/priority metrics that CSMs are goaled on from a compensation standpoint in C11 | ||||||||||||||||||
21 | We've chosen/recommended Net Dollar Retention as the most important metric for CSMs, and Retention/Churn as an additional metric. | ||||||||||||||||||
22 | - If you only want to keep one primary metric, simply update the % of Variable in E12 and E13 (e.g, set one of the metrics to 100%, set the other to 0%) | ||||||||||||||||||
23 | - You can ignore this section if you're not including a commission component of your plan. | ||||||||||||||||||
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25 | If you're experimenting with a bonus/MBO plan: the model allows you to set what the impact on a bonus would be for Meets, Exceeds, and Misses Expectations | ||||||||||||||||||
26 | - You can ignore this section if you're not including a bonus component of your plan. | ||||||||||||||||||
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28 | If you're experimenting with a variable + bonus/MBO plan: update and modify both sections above. | ||||||||||||||||||
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