Abbott Laboratories - Little Canada, MN
posted about 2 months ago
The Senior Manager of Sales Compensation and Analytics at Abbott is a pivotal role responsible for designing, implementing, and managing sales compensation plans that drive performance and align with the company's strategic goals. This position requires a deep understanding of sales compensation structures and analytics, as well as the ability to provide insights to senior leadership to support informed decision-making. The ideal candidate will have a strong background in sales compensation, analytics, and leadership, and will report directly to the Finance department. In this role, you will develop and implement sales compensation plans that not only motivate the sales team but also align with the overall business objectives. It is essential to ensure that these compensation plans are competitive, equitable, and compliant with legal regulations. You will collaborate closely with senior leadership to ensure that compensation strategies are in sync with the company's goals. Your responsibilities will also include analyzing sales performance data to project monthly and quarterly commission payouts, identifying trends, opportunities, and areas for improvement. You will create and maintain dashboards and reports to track key performance indicators (KPIs) related to sales compensation, providing actionable insights based on your data analysis. Additionally, you will oversee the administration of sales compensation plans, ensuring accurate and timely processing of commission calculations, payouts, and adjustments. This includes developing and maintaining documentation for compensation plans and processes, as well as tracking and reporting on sales awards programs. Collaboration is key in this role, as you will work closely with finance, HR, and sales operations teams to ensure alignment and consistency in compensation practices. You will also provide training and support to sales managers and representatives on compensation-related matters. As a leader, you will build, lead, and develop a team of analysts and specialists responsible for sales compensation and analytics, fostering a culture of continuous improvement and data-driven decision-making. You will mentor and coach team members to enhance their skills and career development while ensuring that all sales compensation practices comply with relevant laws and regulations. Staying updated on industry trends and best practices in sales compensation and analytics will be crucial to implementing process improvements that enhance the efficiency and effectiveness of sales compensation programs.