All Insights White Paper Driving Omnichannel Transformation with Incentive Compensation

    Driving Omnichannel Transformation with Incentive Compensation

    Incentive Compensation

    Driving Omnichannel Transformation with Incentive Compensation

    How to link incentive structures with omnichannel metrics to drive success.

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    Driving Omnichannel Transformation with Incentive Compensation

    “Never, ever, think about something else when you should be thinking about the power of incentives.”

    - Charlie Munger,
    Vice Chairman of Berkshire Hathaway, The Psychology of Human Misjudgment

    Incentives are central in aligning employees with organizational goals and driving success. When used strategically, they can motivate individuals to embrace new practices, accelerate the adoption of desired changes, and ultimately lead to improved outcomes.

    Today, healthcare providers and patients require personalized, dynamic support. To that end, pharmaceutical companies are investing in omnichannel capabilities to better orchestrate and personalize all aspects of the customer experience. Still, the field force is the most important element in bringing together this integrated customer experience. Hence, organizations expect the field force to adopt new behaviors, aided by access to dynamic planning tools, near real-time guidance, and seamlessly coordinated promotions across digital, virtual, and in-person interactions.

    Change management is one of many challenges pharmaceutical organizations face in their omnichannel transformation journey, and incentives can be instrumental in persuading field teams to adopt new tools and work processes. Effective incentive compensation programs can motivate employees and lead to a more complete omnichannel transformation, but designing effective incentive programs is critical.

    This whitepaper explores the state of omnichannel maturity in the pharmaceutical industry, challenges to omnichannel success, and the crucial role of incentives in driving omnichannel change. Experts at Axtria elaborate on transitioning from simply monitoring sales rep activities to measuring and providing compensation based on customer experience and engagement outcomes. We delve into additional elements you can incorporate into incentive plans beyond traditional sales-based KPIs to motivate and drive the right behaviors in an omnichannel environment.

    Explore Axtria’s approach to bridging the gaps in your omnichannel journey by leveraging incentives to drive desired behaviors and outcomes. Contact us today for a discussion or consultation with our experts.

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