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Situation:

A large division of a Medical Device company wanted to assess the impact of their Sales Awards program to see if the programs were driving the right behaviors and results. The Lantern Group implemented a Total Rewards Optimization process that looked at their numerous Sales Awards as part of their overall Total Rewards structure.

Process:

The Lantern Group started by doing an in-depth review and analysis of all of their current Sales Awards, Incentive Compensation Plans, and base salary. We then had a ½ day session with key leadership to review the strategic objectives of the various sales forces.

The Lantern Group then did a series of over 35 in-depth qualitative interviews with field personnel assessing their current perceptions and behavioral implications of the Sales Awards.

The Lantern Group then analyzed all of the data looking at how the various awards drove behavior, comparisons to leading edge companies, and alignment with overall strategic objectives.

Outcome:

Our findings indicated that many of the current Sales Awards were not driving the behavior that was expected. Based on our recommendations, the overall structure for the Sales Awards was streamlined, combining some awards and eliminating others. A savings of over $1.2 million dollars was realized.