SYSTEMATIZING A SALES PERFORMANCE REVIEW SYSTEM
A specialty pharmaceutical company was operating on the traditional sales force metrics for periodic review. Unfortunately the performance on the metrics remained the same month after month. The monthly review meeting discussions were more on fault finding and ending with promises which were found to be broken in the immediate next month. The entire performance review system seemed to be a non-productive exercise.
What would be the right metrics which would not only be ‘lagging’ but also include ‘leading’ key performance indicators?
What would be the right review process which would enable on the job course correction before hitting the proverbial iceberg?
THE WHITESPACE DOSAGE
THE WHITESPACE PRESCRIPTION
The WhiteSpace intervention encompassed the following interventions at the line management level
1. Analytics of the field managers work effort.
2. Devising a set of unique ‘leading’ parameters for the line managers
3. Establishing a process (frequency and mode _for review of leading parameters.
4. Embedding the ‘leading’ parameters as part of the monthly MIS dashboard for effective tracking and feed forward system.
The line management is the critical driver and influencer of field force excellence. The new performance review system focused mainly on the ‘leading’ parameters helped drive behavioural change in the field managers. The quality and quantity of interaction of the managers with the medical representatives started changing. Review meetings discussions transformed to solution finding from the previous fault finding. The positive energy generated could not be quantified but we believe it played a critical component of the company’s growth journey for 5 years at a CAGR of > 16%.
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