A private equity backed pension management firm was expanding their financial product portfolio into wealth management and insurance. After realizing that the adjustments made to the sales compensation plans were not driving required behavior, the company engaged the Alexander Group.
The company needed to drive sellers’ focus to strategic, and sometimes less profitable, new products. Many change levers were required to increase in the organization’s sales productivity.
The Alexander Group completed a comprehensive sales compensation assessment by country. Then, in collaboration with sales leadership in each country, designed new plans aligned with the new strategic focus of the company. The Alexander Group recommended a sales transformation roadmap to ensure proper sales execution aligned to the new business strategy.
In the short term, new sales compensation plans were launched. This led to many other discussions about longer term changes in their go-to-customer strategy. A region-wide sales transformation roadmap was formulated for board meeting approval. The company’s new strategic focus began to gain momentum and produce revenue growth.