James M. Root, MBA, Advisor and Senior Consultant, served as the editor for the new G2 Intelligence report “Sales Compensation in the Laboratory Industry: Incentives, Plans and Strategies.”
If you’ve been looking for information on sales and field service representative salary levels, incentive compensation methods, and related benefits, G2’s Sales Compensation in the Laboratory Industry is for you.
Featuring data from two in-depth studies conducted by Chi Solutions and G2 Intelligence, the findings are invaluable for organizations reassessing their compensation plans, and those who need to:
- Separate the selling of new accounts from servicing existing accounts
- Create sales specialists when the organization has previously operated with only generalist representatives
- Improve client retention and existing account sales growth
- Address sales personnel’s lack of motivation for certain job elements
- Resolve high turnover of top performers and low turnover of poor performers
Topics covered include:
- Compensation Plan Design Decisions
- Incentive Caps and Goal Setting
- Characteristics of Salespeople
- Base salary levels, incentive types and benefits provided
- Comprehensive Chi Solutions and G2 Intelligence Survey Results
The research shows that sales compensation plans are often treated as legacies from better times and overlooked when administrators contemplate revenue improvement strategies. And while instituting a new or revised plan is not easy, laboratories must move beyond inertia and ensure that that their compensation plans are drivers that contribute to their success.
For more information, please visit the G2 Intelligence website.