Building the Fundamentals: Why Bold Sales Incentive Schemes Need Efficient Administration

Andrea Traverso and Russell Schubert

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It appears that few medical products companies are very satisfied with the administration of their incentive schemes for salespeople.

This finding from the 2015 Incentives Practices Research study for the medical products industry, carried out recently by ZS Associates, should sound a warning. Only by refining administration can companies be confident in smoothly implementing the bold incentive schemes which are gaining in popularity as a means of maintaining growth and retaining the services of key salespeople, according to the study’s findings. A flexible form of administration also enables negative issues to be identified, analyzed and resolved, and any necessary scheme changes to be incorporated without undue disruption.

Selecting the most appropriate incentive compensation management (ICM) system will therefore provide an indispensable foundation upon which the broader sales strategy can flourish.

About the Experts

Andrea Traverso, a principal at global sales and marketing firm ZS, has helped clients improve their sales, operations and marketing efforts for more than 18 years. Her consulting experience spans across multiple areas including go-to-market strategy, opportunity assessment, segmentation and targeting, sales effectiveness, incentive compensation and overall commercial operations.

Russell Schubert, a manager at global sales and marketing firm ZS, has worked with numerous medical device, products and services companies to find solutions for a variety of issues related to incentive compensation, helping to design and implement incentive compensation plans and quota-setting processes.