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Lindsey Quinn

Lindsey Quinn

Author's details

Name: Lindsey Quinn
Date registered: July 30, 2015

Biography

Lindsey Quinn, our content manager, works with NCM moderators, consultants, instructors, and staff to keep you informed of developing trends in the automotive industry. After more than fifteen years writing professionally—and a brief teaching stint—she believes that everyone has a compelling story and valuable knowledge to share, but sometimes they need a little help getting it on paper. Lindsey holds a BA in anthropology from the University of Pennsylvania and an MA in English Language and Literature from the University of Missouri, Kansas City.

Latest posts

  1. NCM Case Study: How Darin Wade Saved Power Ford — April 25, 2017
  2. Five BDC Trends to Watch in 2017 — January 5, 2017
  3. Stop Embezzlement Before It Starts — October 6, 2016
  4. 3 Steps to Protect Your Dealership from Data Breaches — October 4, 2016
  5. 5 Reasons Why You MUST Attract Digital Car Shoppers — August 11, 2016

Author's posts listings

Lindsey Quinn

Automotive pay plans that work: 4 elements for success

Bundle, Money Roll, Currency.

Developing an effective compensation strategy is an ongoing issue for most dealerships. You need a plan that drives solid performance from Sales. And you want to motivate employees … but you can’t afford to overspend for the market. So, what do you do?

NCM’s experts always advocate keeping pay plans simple and making sure that the criteria you select allow employees to track their earnings on a daily basis. Choose items that are under the direct control of the employee—after all, they can’t develop buy-in without feeling a sense of ownership!

Whenever possible, NCM believes you should limit automotive pay plans to four criteria. Here are some examples:

1. Volume

  • Unit deliveries for salesperson
  • Same‐store sales and/or market penetration for Department Manager
  • Hours sold for Service Advisor
  • Total hours produced by Service Department for Back Counter Parts Person

2. Margin

  • Income per delivery for F&I Producers
  • Effective labor rate for Service Advisors
  • Gross profit percentage for “Front” Counter Parts People
  • Controllable profit for Department Managers

3. Customer Satisfaction or Customer Retention

  • Regional or zone average at a minimum
  • Compensation rewards tied to “world class service”

4. Miscellaneous Incentives

  • Immediate department initiatives
  • Specific goals to drive short‐term performance

Sales compensation is a tricky subject for everyone in the automotive industry. Learn pay plan secrets of top performing dealerships in the NCM Institute class, Sales and Management Compensation. And discover how to hire motivated high-performing employees in the first with our class, Finding Top Talent.

Permanent link to this article: http://blog.ncm20.com/2015/12/automotive-pay-plans-that-work-4-elements-for-success/

Lindsey Quinn

Automotive Cybersecurity: 4 Steps to Protect Your Dealership

hacker-photo

I doubt that data security keeps most dealers up at night. But it probably should, considering its staggering impact. Each year, cybercrime costs the global economy $575 billion—$100 billion of that in the U.S. alone!

Data breaches are an expensive problem, and hackers increasingly are targeting the automotive industry and its lucrative bank of social security numbers and financial information. Just take a look at these findings by NetIQ:

  • Automotive firms reported a 32% increase in reported detected cyberattacks.
  • More than 70% of organizations surveyed in their 2015 report had been affected by a successful cyberattack last year.
  • The average cost of a corporate data breach is $3.5 million.
  • The vast majority of security incidents involve a current or former employee.

The automotive industry will continue to be a tempting target for cybercriminals, but you can fight back by creating a solid data management and security plan. Expert David Spisak—ReverseRisk President & CEO—shared the four key steps you should take to control your dealership’s data.

  1. Take ownership. It doesn’t mean you have to do all the work; it just means you need to be actively engaged in every aspect of your organization’s data management.
  2. Find a good gatekeeper. This person will be directly responsible for executing the plans and processes that you approve for your organization. They will also maintain and monitor your firewall, conduct spot checks of employee internet access and create access reports for your review.
  3. Create formal access policies. Outline what type of access new and existing employees should have to your data. Be sure to develop a clear plan for closing data access for former employees, who are likely to be your biggest data security risks.
  4. Review access reports monthly. Weekly is even better. No matter the interval, review who is accessing your data network and take steps to address any issues.

These steps are just the start to securing your data and protecting your business. Join David Spisak in Park City, Utah, December 10-11 for more details on the data security risks dealers face and how best to prepare your store against these attacks.

Permanent link to this article: http://blog.ncm20.com/2015/10/automotive-cybersecurity-4-steps-to-protec-your-dealership/

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