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Incentive Compensation
Trinity provides comprehensive incentive compensation support, including program design, "what-if" modeling, performance rankings, payout tabulation, reporting, and post-hoc analysis of program results. We view incentive compensation as critical to the overall sales and marketing strategy of an organization, seamlessly linking strategy to compensation, and compensation to sales performance. Independent of the type of plan, three basic rules apply. Plans must be clear, equitable, and tie directly to our client's strategic goals. We partner with our clients on their long-term incentive compensation needs. We have expertise in a wide range of program types, including the design and measurement of non-traditional programs for strategic customer and national account groups.
CASE EXAMPLE
Situation Our client was a leading biopharmaceutical company with a product used in multiple specialty indications. With imminent changes to the competitive environment, the strategic focus had expanded to include market share protection as well as market growth as the primary indices for incentive compensation. Additionally, a second-position product had been added, further complicating program design. In the course of a year, the complexity of plan components increased exponentially, and it was critical to design a plan that kept sales representatives focused on their primary objectives.
Approach Following meetings with internal management and field representatives, Trinity modeled several possible plan designs and presented the results to the client. Sales representative focus groups were organized and input was gathered from all levels of the organization. It was determined that the optimal plan would balance equitable per-rep payouts and maximize the return for high-performing territories. Additionally, simplicity in plan design and definition was highlighted as a key need.
Result Our client was able to integrate market share into the compensation plans while keeping the emphasis on growth of the business. They were also able to protect themselves from attrition concerns by guaranteeing a national average payout that was above industry standards while maintaining strong incentive for high-performers.
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