Health Insurance Sales Compensation Trends
Sales Compensation Costs are Climbing, Along with a Push for Profitability and Market Alignment
In the face of rising healthcare costs, health insurance and all payor organizations are grappling with an increase in sales compensation costs, necessitating a higher focus on profitability and productivity to maintain efficiency. Now, more than ever, it is crucial to proactively reassess and fine-tune your sales compensation program.
How does your sales compensation program compare to industry?
Alexander Group surveyed 300+ sales compensation leaders to determine the current trends impacting sales compensation programs.
Key highlights include:
- Optimistic Outlook: Leaders project an average of 8% revenue growth in 2024, but strategies vary significantly based on customer segments.
- Pay for Performance & Market Alignment: Top three 2024 plan change reasons focus on driving alignment with strategic goals.
- AI in Sales Compensation Management: Over 25% of companies adopt AI solutions to transform processes, drive efficiencies and deliver insights.
- Government Focus: Regulations regarding payor caps in Medicare as well as the rise in “duals” population is forcing immediate rethinking of roles and sales compensation plans.
Schedule a readout today to explore how changing market dynamics and priorities are impacting your sales compensation program.
Please complete the form and an Alexander Group representative will be in contact with you soon to schedule your briefing.
