Lead Manager, Sales Compensation Strategy

2 months ago

King of Prussia, Pennsylvania, United States BioSpace, Inc. Full time
Job Overview

Position Summary:

This role is accountable for overseeing all facets of Field Sales Compensation initiatives within Sales Operations for designated field teams across North America. Responsibilities encompass, but are not limited to: the design and management of incentive compensation frameworks, administration of sales contests, goal and quota establishment, support for product launches, and evaluation of plan fairness and effectiveness. This individual collaborates closely with Sales Leadership and Sales Operations to provide insights into compensation strategies, addressing opportunities and challenges through astute business acumen. Additionally, this role necessitates the development of robust cross-functional partnerships with brand leadership, business technology, legal, compliance, human resources, and finance to ensure effective operational support.

Key Responsibilities:
  • Craft, communicate, and sustain incentive compensation programs that reinforce sales strategies, align with corporate objectives, and uphold fiscal responsibility while adhering to all relevant laws and policies.
  • Identify avenues to enhance compensation operations and boost quality and productivity through automation. Implement technologies and tools to streamline sales reporting.
  • Engage with commercial teams and compensation vendors to leverage industry best practices in developing optimal compensation plans.
  • Proactively advance the rewards and recognition program by assessing compensation plan effectiveness, engagement, and utilization.
  • Develop and advocate for best practices in incentive compensation; identify and disseminate relevant strategies and business rules applicable across various business units and product portfolios.
  • Refine goal-setting strategies, lead the process of establishing goals, and devise measurement methodologies.
  • Collaborate with business technology and data operations to ensure proper data procurement, integration, and governance.
  • Design and execute a communication strategy for field sales to ensure clarity regarding compensation plans and related strategies.
  • Address inquiries regarding specific field performance issues related to compensation; oversee adjustments, appeals, and impact analyses.
Qualifications and Experience Requirements:

Education

A bachelor's degree is required; an MBA is preferred.

Experience
  • A minimum of 7 years in Sales Compensation management.
  • At least 3 years of experience in data management and analysis.
  • Familiarity with sales targeting, segmentation, sales force alignment, analysis, and reporting.
  • Understanding of compensation theory and its practical application.
  • Experience in designing compensation plans throughout all product lifecycle stages.
  • Proven project management capabilities.
  • Strong presentation skills.
  • Experience handling sensitive and confidential information is essential.
  • Experience engaging with various levels of management, including VP level, as well as field personnel.
  • Proficient in Microsoft Access, Excel, and PowerPoint.
About BioSpace, Inc.
BioSpace, Inc. is a leading organization dedicated to advancing the development and delivery of innovative solutions that address critical health challenges. Our mission is to provide impactful treatments for individuals across diverse therapeutic areas.

Commitment to Diversity and Inclusion
As a global entity, BioSpace, Inc. values diversity and inclusion, fostering an environment that reflects the communities we serve. We are dedicated to creating a workplace where every employee feels valued and empowered.

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