Alexander Group Media Room

If there’s one thing the Covid-19 pandemic has taught us, it’s that the healthcare industry is changing. Providers and MedTech companies alike are leaning into new, digital-first channels to deliver care, engage with customers and keep their businesses running smoothly. All signs indicate that this broad shift isn’t a mere trend—in a recent survey, a whopping 75% of healthcare executives said these expanding care settings and delivery models were shaping their long-term strategies.

If business leaders are truly invested in boosting and maintaining a positive customer experience, they must first take a hard look at their employee experience.

Next-generation manufacturing and distribution teams attract, develop and retain workers by creating a meaningful employee experience. The key to developing a strong, loyal team is simple, yet vastly overlooked: listening to workers and giving them what they actually want from their jobs–including a professionally and personally fulfilling, meaningful work environment.

As rates continue to ascend and economic recession takes hold, 2023 will see a renewed focus on profitability in an effort tonavigate hardships and maximize valuation. Looking ahead, expect these three trends to control next year’s headlines.

For sales compensation to be effective, it needs to be compatible and align with all sales performance programs. For sales leaders, the hunt is always on to improve sales productivity. We know that sales compensation contributes to improving sales productivity, but it does not stand alone.

Organizations should consider using job levels to improve the sales force compensation program. Job levels offer different target compensation amounts that recognize incumbents’ applied skill levels: entry; career; and expert. Using job levels is not only a valuable career advancement practice, but an effective pay program technique to reward growing seller competencies; however, they do present challenges.

If manufacturers approach their long-term targets and adhere to accurate growth measurements - by analyzing the health of revenue streams, understanding the determining factors that comprise organic growth, and adjust KPIs to stay ahead of market volatility - then there is a strong case for a successful future ahead, say Kyle Uebelhor and Jameson Riley, Alexander Group.

Turnover numbers are dropping, but the impact may linger for years to come. To combat this trend, manufacturers must support a resilient company culture in three ways to win the battle of employee retention.