Productivity is the key to success for any business in the current times. With various technological advancements and the rise in competition, businesses need
When you look at sales incentive compensation from a macro perspective, it means encouraging sales representatives to perform specific activities in exchange for rewards and
Sales Compensation Strategies for Motivating Your Sales Team A sales manager’s job is to motivate each member of the sales team to perform their best.
One of the most important drivers of sales force productivity and effectiveness is incentive compensation. Pharmaceutical businesses have always endeavored to recruit and retain high-performing
Are you still using excel spreadsheets to manage your employee/sales roster? Have you ever wondered about the complexities you are handling manually and the time you are spending behind it? The roster has evolved from being an employee management mechanism to a critical cog driving commercial excellence/sales operations processes like scheduling, sales force sizing, call planning, alignment, and incentive compensation management decisions.
Through this article you will get to know all about the Roster management system, it’s benefits like eligibility, operations, agility, communication and much more and things to consider for effective roster management.
Management by objectives (MBO); strategic model with clear objectives agreed to by management and employees with an aim to improve the organization’s performance. They are also known as management by results (MBR) and were first popularized by Peter Drucker in his 1954 book, “The Practice of Management”
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.
Almost 70% of change initiatives fail and less than 1/3rd achieve clear success. A lot of it can be attributed to inflexibility & rigidity of existing incentive compensation solutions to adapt to change and resistance from stakeholders because of painful past change management experiences. Change management failures also result in introduction of parallel tools and rise in manual processes. This blog speaks about the need for sales organizations to look at new age out-of-the-box, no-code solutions that can be an effective partner to the sales operations team, adapt rapidly to ever-changing needs and automate new processes that are introduced over time.
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.
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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.
