AVON, CONNECTICUT, USA (April 4, 2003)�According to a recent study of 32 worksite companies by Eastbridge Consulting Group, those companies with a “field force” specializing in worksite, tend to have somewhat higher sales than do those who promote worksite along with other products (such as group products).
“We also learned that sales reps who promote worksite only tend to earn higher base salaries than do other company reps,” says Eastbridge president, Gil Lowerre. “But while the base salaries of these reps are higher,” adds Lowerre, “their total compensation is not.” According to Eastbridge vice president, Bonnie Brazzell, those reps who promote both group and worksite products tend to have higher total earnings since they earn compensation on both product lines.
Additionally, the Regional Worksite Sales Rep Compensation Study found that:
- Most carriers use company employees to promote their worksite products.
- Compensation plans for company reps vary a lot from company to company but the net compensation is still fairly similar.
- All companies (for those surveyed) pay some kind of variable compensation in addition to any base salary paid (either a bonus and/or override).
The study, completed in 2003, takes a close look at the ways companies structure their worksite sales force. Some of the data in this study includes:
- Base compensation ranges
- Variable compensation information
- Total compensation ranges
- Expected sales for each rep
- Size of region handled by the reps
The report is now available for just $1,000. For more information, click here to check out the table of contents on our website at or call us at (860) 676-9633.
Eastbridge Consulting Group, Inc., is a marketing advisory firm serving insurance and financial services organizations in the United States and Canada.