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Incentive Compensation Manager

 
Requisition ID:  792
Location: 

Deerfield, Illinois, US

Date: 
 

At Lundbeck, we are tirelessly dedicated to restoring brain health so every person can be their best. Headquartered in Copenhagen with a U.S. home office in Deerfield, Ill., Lundbeck is the only global pharmaceutical company focused solely on brain diseases. Our legacy in neuroscience goes back seven decades and we have a long heritage of innovation. Lundbeck has developed and commercialized some of the world’s most widely prescribed therapies for psychiatric and neurological disorders. Today, we remain uncompromisingly committed to improving the quality of life for people impacted by brain disorders. Lundbeck is unique from other biopharmaceutical companies in that we are 70 percent owned by a research-focused foundation. We have a deep and productive pipeline, and we continue to bring forward symptomatic therapies to help people live better lives, while simultaneously pursuing disease-modifying treatments.

SUMMARY

The Incentive Compensation Manager will be responsible for developing sales force incentive compensation solutions that effectively motivate the sales force and achieve the sales and marketing strategy. The position: primarily interfaces with sales, brand and general management; focuses on plan design, goal / quota setting, awards and recognition, reporting and administration; and coordinates with co-promotion IC leads at respective co-promotion partner companies.

 

ESSENTIAL FUNCTIONS

Incentive Compensation Design

  • Designs incentive plans in collaboration with sales and marketing management that align with the brand and sales strategy as well as our IC Philosophy
  • Aligns metrics with corporate forecasts to ensure plans are financially viable
  • Develops various plan design options and conduct relevant analyses for each option to appropriately evaluate each option
  • Reviews and finalizes trimesterly plans with management
  • Executes on IC production schedule as determined by cross-functional team

Goal / Quota Setting

  • Designs methodology for allocating the national commercial demand forecast goal to the sales force
  • Conducts fairness testing to ensure goals (or other metrics) are fair and equitable for each individual in the field
  • Calculates final goals and metrics to be used to track performance
  • Develops communication materials for the field, including summary materials for sales management
  • Communicates goals/quotas/baseline to the field and presents to sales management

Administration

  • Plans and coordinates implementation of incentive plan with related areas (business operations and sales management)
  • Designs and develops tools for the field to calculate and project incentive compensation payouts
  • Creates monthly sales force performance reports for Account Managers, Area Sales Managers, Regional Sales Directors and National Sales Director
  • Projects and accrues payouts
  • Creates payroll files and summary documentation
  • Investigates and resolves data and field inquiries
  • Collaborates with Legal and Sales leadership to create and maintain eligibility documents
  • Partners with HR, Training and Sales Leadership to maintain and track eligibility for all field sales programs
  • Collaborates with HR and Sales leadership on the calculation of mid-year and year-end sales performance metrics

Awards and Recognition

  • Designs and implements a methodology for allocating the national awards
  • Collaborates with Marketing and field sales to design and implement SPIFFs and local contests
  • Ensures national awards and contests are fiscally responsible and paid in a timely manner
  • Calculates final All-Star awards

Other

  • Prepares data and ad hoc analysis as needed
  • Evaluates / determines / oversees vendors and contractors to provide additional analysis / support

 

REQUIRED EDUCATION, EXPERIENCE and SKILLS

  • Accredited Bachelor’s degree
  • 3-5 years related analysis experience in areas including sales operations, marketing, finance, etc.
  • 3+ years sales force incentive compensation experience
  • Experience with data (i.e., retail / non-retail, specialty pharmacy, payer, claims, etc.)
  • Demonstrated experience in designing commercial analytical methods
  • Strong data management skills, including Excel, and/or Microsoft Access
  • Strong quantitative and analytical skills
  • Strong communication skills, both written and verbal
  • Experience developing presentations and presenting with PowerPoint

 

PREFERRED EDUCATION, EXPERIENCE and SKILLS

  • Accredited Master’s Degree
  • 3+ years pharmaceutical sales force incentive compensation
  • Experience with other Sales Operations processes such as SFA systems, reporting, call planning or promotional response
  • Complete knowledge of pharmaceutical data (i.e. retail/ non-retail, specialty pharmacy, payer, claims, etc.)
  • Project Management
  • Experience interfacing with a co-promotion partner
  •  

TRAVEL

  • Willingness to travel up to 20% domestically. International travel may be required.

 

Lundbeck is proud to be an equal opportunity workplace and is an affirmative action employer. We are committed to equal employement opportunity regardless of race, color, religion, sex, sexual orientation, gender identity, age, national origin, disability, protected veteran status, and any other characteristic protected by law, rule, or regulation. Lundbeck participates in E-Verify. 

Lundbeck is a global pharmaceutical company specialized in brain diseases. For more than 70 years, we have been at the forefront of neuroscience research. We are tirelessly dedicated to restoring brain health, so every person can be their best.

An estimated 700 million people worldwide are living with brain diseases and far too many suffer due to inadequate treatment, discrimination, a reduced number of working days, early retirement and other unnecessary consequences. Every day, we strive for improved treatment and a better life for people living with brain diseases – we call this Progress in Mind.

Read more at www.lundbeck.com/global/about-us/progress-in-mind.
Our approximately 5,000 employees in more than 50 countries are engaged in the entire value chain throughout research, development, production, marketing and sales. Our pipeline consists of several late-stage development programs and our products are available in more than 100 countries. Our research center is based in Denmark and our production facilities are located in Denmark, France and Italy. Lundbeck generated revenue of DKK 18.1 billion in 2018 (EUR 2.4 billion; USD 2.8 billion).

For additional information, we encourage you to visit our corporate site www.lundbeck.com and connect with us on Twitter at @Lundbeck and via LinkedIn.