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Six sales compensation trends making the biggest impact

The world has changed. Life Sciences and Analytical Instruments companies have had to adapt their go-to-customer models in response to these new market realities. Management systems like sales compensation need to be aligned. Alexander Group’s recent research captures the leading and prevailing sales compensation design practices companies are employing to reinforce growth strategy and job execution.

Watch practice leaders Matt Greenstein and Arshad Carim as they take a deep dive into each of the top sales compensation design practices that are trending in the life sciences industry.

  1. The Revenue Model Dictates Design: Instrument and consumable oriented plans feature different measures, mechanics and crediting. Hybrid plans feature complexity.
  2. Sales Job Evolution and Emerging Trends: Companies are emphasizing revenue and goal achievement accountability. Strategic plan components emphasize retention and expansion.
  3. The Rise of Inside Sales: Support versions of the job are fading. Designs feature growth and quota accountability. Frameworks emphasize consumable, service and run-rate business.
  4. One Size Fits All: Companies operate global design frameworks and nuance designs to support local market strategy, opportunity and needs. Regional differences focus on pay levels and mix.
  5. Motivating Teams: While manager and overlays roles naturally result in team measures, the sales compensation program is not the management lever used to motivate teaming and collaboration.
  6. Connecting Commercial to Corporate: Manager designs often balance alignment with their direct teams with overall company financial performance through low-weighted profitability measures.

Click here to watch now »

For a full briefing of our latest sales compensation research findings, please contact an Alexander Group practice leader today.

 

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Recommended Insights:

Whitepaper – 2021 Life Sciences and Analytical Instruments: Industry Commercial Predictions and Trends

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Categories:

Insight type: Article

Industry: Life Sciences

Role: C-Suite, HR/Sales Compensation

Topic: Benchmarking, Sales Comp

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Not What You Were Looking For? Explore More…

How We Help


Recommended Insights:

Whitepaper – 2021 Life Sciences and Analytical Instruments: Industry Commercial Predictions and Trends

Upcoming Virtual Roundtables

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