Axtria Insights

Axtria Insights

CASE STUDY

Comprehensive Field Force Incentive Compensation Program for a Medical Device Company

Situation

  • U.S. based medical device manufacturer
  • Field based incentive payments were not consistent with corporate goals and budgets
  • No set standards for monitoring success

Challenges

  • Sales and Marketing leadership differed on priorities and call cycle
  • Multiple marketing spiffs were affecting incentive plan balance
  • Many overlapping opportunities to earn money on similar objectives
  • No formal approval process in place to ensure timely and accurate payments

Approach

  • Axtria met with the sales and marketing teams to determine brand prioritization
  • Modeled multiple incentive metrics and made recommendations on best practices
  • Included opportunities for other program features such as ‘President’s’ Award, Top Sales Awards, Attrition Reduction kickers,  and other motivational programs
  • Reviewed and received buy-in from senior management
  • Created a multi-layer process for approving and ensuring timely payments to all field associates
  • Developed and implemented a thorough training program to warrant understanding along with ‘tip’ sheets on how to maximize earnings

Field Force Incentive Compensation Program for Medical Device Company


Result

  • Incentive payments became proportional to overall sales achievement
  • Sales effectiveness and comprehension of the incentive program improved considerably
  • The new incentive compensation program successfully aligned corporate objectives of senior leadership with the sales teams