What is the SCOR³ES® Diagnostic?
Developed over 20 years ago exclusively for the pharma, biotech and medical device industries, SCOR³ES® is a biopharma sales incentive compensation diagnostic that quantifies the performance of sales incentive compensation plans against the six critical criteria of plan effectiveness, including four patent-pending tests of equity.
Simple
How simple is the relationship between performance and earnings?
Consistent With Company Objectives
Is the sales compensation plan consistent with company and product objectives?
Opportunity to Always Earn More
Does the sales representative have an opportunity to earn more and more compensation?
Reps Rule Rewards
How much direct control does the sales representative have over individual compensation?
Equity
Does every sales representative have an equal chance of earning the same amount of compensation?
- Fairness Test of Equity
- Stability Test of Equity
- Attainment/Payout Test of Equity
- Pay for Performance Test of Equity
Safety Net
Is the sales force and company protected should something unexpected occur in the marketplace?
SCOR³ES® Correlation With Sales
What makes SCOR³ES® so powerful is that over the years, the SCOR³ES® rating system has been fine-tuned such that improvements in SCOR³ES® ratings have been statistically shown to be correlated with increases in sales, demonstrating that replacing a poor sales incentive compensation plan with a good one can increase sales anywhere from 7%-18%.
What SCOR³ES® Can Do For You
SCOR³ES® can provide invaluable insight to you both during the design stage as well as after the plan period has ended. Below are just some of the things our SCOR³ES® pharma sales compensation plan evaluation can do for you.
What Does a SCOR³ES® Diagnostic Entail?
A SCOR³ES® Diagnostic is a comprehensive analysis of your current IC plan, including detailed pros & cons and specific recommendations tailored to your product(s) to improve your plan design.
High-Level Overview of Current Plan Performance
Reps Rule Rewards
The diagnostic identifies what is working, what is creating risk, and how the criterion can be improved.
Pros of Design
- Individual performance contributes to earnings.
- Representatives have visibility into rewards.
- The plan includes measurable performance factors.
Cons of Design
- Shared measures reduce individual control.
- Certain components weaken pay-for-performance.
- Plan complexity may reduce motivation.
How to Improve
- Increase direct individual accountability.
- Refine the weighting of shared components.
- Strengthen the connection between results and rewards.
Prioritized Plan Improvements
Recommendations are tailored to the product, selling environment, plan structure, and performance opportunity.
Create stronger distinctions between performance levels and reinforce motivation to improve . . .
Ensure payout movement is meaningful across performance levels . . .
Strengthen payout opportunity for the highest levels of performance . . .
Consolidate components that do not materially influence representative behavior . . .
Reduce reliance on measures representatives cannot directly influence . . .
How Effective is your Current Sales Compensation Plan?
Answer a few questions to see how your sales compensation strategy compares to best practices in the life science industry.
Clients We’ve Served
Join the companies that have revolutionized their sales compensation and sales optimization strategy with The Marketing Advantage, from small start-ups to multi-national corporations.
