2021/2022 Health Insurance Sales Force Compensation Insights Report
Market Competitiveness Reflects Need for Attractive and Effective Sales Compensation Plans
Sales incentive plans should be regularly re-evaluated to ensure they reflect changes to the external market as well as changes to the company’s go-to-market strategy.
The 2021 BDO Health Insurance Industry Sales Force Compensation Survey provides an in-depth look at compensation levels, plan designs and incentive practices for sales positions, and is used by health insurance companies to assess market pay and compensation practices for their sales force.
This summary report highlights key findings from the full survey report, which addresses critical compensation issues and questions, such as appropriately incentivizing the sales force to drive business results while minimizing turnover of high caliber sales professionals, specifically:
- How have pay levels changed year over year during the prior cycle?
- What are the key drivers of pay levels for various sales positions by types of sales roles, product(s) sold and market segment?
- What factors impact the decisions regarding the amount of pay that should be at risk?
- What type of sales incentive plan(s) should be used?
- Are companies using sales bonuses, commissions or a combination of both?
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