Dealership Pay Plans That Work
IMPROVE MARGINS, VOLUME, CSI, CUSTOMER RETENTION & BOTTOM LINE PROFIT WITH JEFF’S PAY PLANS FOR THE AUTOMOTIVE INDUSTRY
During Jeff’s 2011 NADA Convention standing room only workshops, he introduced his new inter department based pay plans – IT WAS A HIT!
Are you considering changing or adjusting your pay plans?
Can you gain greater productivity, improved CSI & customer retention by fine tuning some of your pay plans?
Do some of your pay plans need to be recalibrated?
Before you change pay plans, why don’t you take a look at what other successful dealers do!
This compilation of pay plans includes hundreds of pay plan components on 100+ pages, indexed by department for the the following positions:
- Variable & fixed managers
- Sales consultants
- Finance producers
- Service advisors & technicians
- Parts personnel
- Accounting personnel
…AND MANY, MANY MORE
Reconditioning Pay Plan:
‘Jeff, I loved your idea of how to speed up the reconditioning process. I am now comfortably within the 72 hour window and the friction between the used vehicle manager and service manager has disappeared. I have now implemented the same pay plan in our other 7 stores.’ – Dealer Group – Midwest
Technician Pay Plan:
‘Paying technicians a flat percentage of the selling price of labor has successfully addressed a number of issues that have been holding us back in service. We are now producing more hours with higher margins. As a result, the most productive technicians are really doing well and the others are picking up the pace.’ – Ford Dealer – West Coast
Finance & Insurance Pay Plan:
‘Changing the percentages to create more extended service contracts and service maintenance packages has lifted our penetration numbers here without increasing our compensation. It is amazing how pay dictates behavior and rechanneling their sales presentations will ultimately help our service department.’ – Chevrolet Dealer – Northwest
Salesperson Productivity Pay Plan:
‘Joint Variable Manager Pay Plan #8 has an intriguing slant to it that I am going to use at my Chevrolet store because it really is going to make the managers focus on improving the average sales per month per salesperson. Your volume bonus (pay plan #10) is not too shabby either. Thanks.’ – Three Store Group – South Central
Back Counter Pay Plan:
‘The pay plan on paying the back counter person on labor hours turned is a no brainer. I am sorry I didn’t think of it sooner because it’s working. Thanks and see you at the NADA Convention.’ – Hi Line Import Dealer – South Central
PAY INFLUENCES BEHAVIOR!
Put the right pay component or plan in place to improve your current business model.
- Consider implementing pay plans that reduce inter department conflict, elevate personnel productivity and improve customer retention
- Change vertically designed pay plans into functional horizontal pay plans
Here are a couple of component samples from the book:
‘If you don’t find a pay plan component you can use, I’ll give you your money back – Guaranteed!’
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