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The Active Ingredient features expert insights and commentary from leaders of ZS Associates' global pharmaceuticals practice.

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Three Common Mistakes When Setting Sales Goals

Posted by Tanya Chaturvedi on Thu, Oct 20, 2016

David Keim co-wrote this post with Tanya Chaturvedi.

For many sales reps, goals and quotas are a key component in their compensation plans. According to ZS’s Incentive Practices Research (IPR) study, more than 70% of the survey participants (sales plan administrators at pharmaceutical and biotechnology companies) use goals or quotas as a component in their compensation plans.

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Topics: goal setting, sales comp, Tanya Chaturvedi, 2016 Pharma Sales Comp Conference, goal-based plans, David Keim

How to Motivate a Multigenerational Sales Force

Posted by ZS on Wed, Oct 05, 2016

What motivates a 52-year-old sales rep might not necessarily be what elicits the best performance from the 29-year-olds in the field, so how can sales compensation plans best incentivize a multigenerational sales force? At ZS’s 2016 Pharma Sales Comp Conference, held in Boston July 20-22, keynote speaker —a researcher and self-proclaimed (and self-aware) millennial at Wayzata, Minn.-based generational consultancy BridgeWorks—discussed the key characteristics of each generation and what sales leaders need to know in order to get the most out of sales reps of all stripes. “When we talk about motivation, it plays so well into the concept of ‘one size does not fit all’ when it comes to incentives and compensation,” Ubl says. “What works for one group is not necessarily going to work for another.”

ZS spoke with Ubl about the intricacies of motivating and managing a multigenerational team.

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Topics: sales comp, millennials, 2016 Pharma Sales Comp Conference, hannah ubl, generations, generation X, baby boomers, multigenerational sales force

Three Takeaways From ZS's 2016 Pharma Sales Comp Conference

Posted by ZS on Tue, Aug 09, 2016

As the U.S. healthcare ecosystem continues to undergo a significant evolution, and the focus for many life sciences companies shifts from physicians to patients, payers, integrated delivery networks and a host of other stakeholders, pharmaceutical companies are working to keep pace with these changes. ZS recently welcomed more than 60 forward-looking pharmaceutical sales compensation professionals to Boston for a two-day conference to exchange ideas, network with industry leaders and learn from experts in the field. Here, we’ve highlighted three takeaways.   

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Topics: Steve Marley, 2016 Pharma Sales Comp Conference, Jerome Chabrillat

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