Motivate the sales force with an equitable and energizing IC plan through:
IC Plan Evaluation
A vital aspect of any IC plan is knowing how effective the plan truly is and the degree to which it is motivating and energizing the sales force. However, common methods for evaluating IC plans, such as analyzing the results of sales force surveys or the distribution of payout curves, are not only inaccurate, but do not indicate the precise areas of an IC plan that need improvement.
In contrast, our SCOR³ES® evaluation is a powerful and thorough tool that rates and evaluates the effectiveness of IC plans. SCOR³ES® is an acronym that stands for the six critical criteria that an IC plan must meet if it is to be an effective IC plan, with special attention being paid to equity. Each of these essential elements work together to drive sales.
Through SCOR³ES®, IC plans receive a full diagnostic assessment that reviews all aspects of the plan. Each of the six SCOR³ES® criterion is evaluated and given a rating of 1.0 to 5.0. Ratings are then combined for an overall plan rating. What is so powerful about SCOR³ES® is that increases in SCOR³ES® ratings have been statistically shown to be correlated with increases in sales, in fact, improvements in SCOR³ES® ratings have been shown to increase sales in excess of 10%, a percentage that truly speaks to the power of a motivating and energizing IC plan.
IC Plan Design & goal setting
The importance of a well-designed IC plan cannot be underestimated. Our passionate team will provide the insight, guidance and support to construct and manage a customized plan that will truly drive sales.
Our design process considers our library of innovations and involves the development of various alternative IC plan designs that consider all possible plan:
- Types--the means by which compensation will be determined (goal, ranking, grid, etc.)
- Methodologies--the specific technique used to calculate the above type (how goals are set, etc.)
- Pay structures--the structure under which payouts are awarded (the type of payout curve, threshold level, etc.)
- Metrics--the performance indicator used to calculate compensation (TRx, NRx, market share, etc.)
The optimal configuration of the above factors is determined for each product individually. We design IC plans that help the sales force sell their product portfolio in their unique selling environment, so the design process considers product-level elements such as life cycle stage, seasonality, managed care status, and acute vs. chronic indications.
Administration & Management
TMA offers support above and beyond our competition in the day-to-day management of incentive compensation plans. Our dedicated project managers are supported by a team of experts to keep the burden off our clients.