CS: Field Force Incentive Compensation Program for Med 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

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

Contact us at insights@axtria.com with any questions.

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