Quotas are critical for establishing and tracking success of the field force. To ensure that quotas are the strength of an organization rather than the downfall, a good amount of testing & analysis goes into it. Read this blog to learn more about it.
The coronavirus pandemic has impacted the entire life sciences industry and all of them are striving hard to cope up with these difficult circumstances in their own way. IC landscape is no different and has not been spared by any of these challenges either. Covid has instigated social distancing and virtual meetings to be the new normal limiting the in-person access. This resulted into changing dynamics within the sales operations team across different industries. While talking about all these aspects, Kenneth Pieh shares his perspective on the changing and evolving trends in the incentive compensation management space.
Sales Operations / Commercial Excellence plays a critical role in any organization as they draw insights from the unstructured and unorganized information to improve the overall ROI and efficacy of sales & marketing spend. Inflexibility & rigidity of their existing incentive compensation system has been a major hurdle in this process. This leads to increased dependence on solution providers and impedes the overall outlook towards changing existing IC ecosystem. This blog speaks about similar challenges and the desired state one should try to achieve.
A traditional incentive payout curve delivers different payout amounts for performance between minimum (threshold) level of performance and excellence (“superior” or “stretch”) level of performance. Usually, a curve is designed with additional elements such as threshold, target slope, excellent slopes and Cap to pay out 100% of an employee’s incentive opportunity on achieving the target. This article walks you through on ways of accounting these elements while designing your payout curve right.
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A business-ready Incentive Compensation solution that supports implementations and changes in half the time at a third of the cost.
