Senior Manager Sales Compensation and Analytics

$109,300 - $218,700/Yr

Abbott Laboratories - Saint Paul, MN

Full-time - Mid Level

Saint Paul, MN

10,001+ employees

Miscellaneous Manufacturing

About the position

The Senior Manager of Sales Compensation and Analytics at Abbott is a pivotal role responsible for the design, implementation, and management of 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 possess a strong background in sales compensation, analytics, and leadership, ensuring that the compensation strategies are competitive, equitable, and compliant with legal regulations. In this role, you will develop and implement sales compensation plans that motivate the sales team and align with business objectives. You will analyze sales performance data to project monthly and quarterly commission payouts, identify trends, and provide actionable insights to senior leadership. Additionally, you will oversee the administration of sales compensation plans, ensuring accurate and timely processing of payments and maintaining documentation for compensation plans and processes. Collaboration is key in this position, 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 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 within the team. Furthermore, you will ensure that all sales compensation practices comply with relevant laws and regulations while staying updated on industry trends and best practices. This role is based in the Minneapolis/St. Paul area and requires in-office work five days a week.

Responsibilities

• Develop and implement sales compensation plans that align with business objectives and motivate the sales team.
• Ensure compensation plans are competitive, equitable, and compliant with legal regulations.
• Collaborate with senior leadership to align compensation strategies with overall business goals.
• Analyze sales performance data to project monthly and quarterly commission payouts, identify trends, opportunities, and areas for improvement.
• Create and maintain dashboards and reports to track key performance indicators (KPIs) related to sales compensation.
• Provide actionable insights to senior leadership based on data analysis.
• Oversee the administration of sales compensation plans, including commission calculations, payouts, and adjustments.
• Ensure accurate and timely processing of sales compensation payments.
• Develop and maintain documentation for compensation plans and processes.
• Track and report on sales awards programs.
• Work closely with the finance, HR, and sales operations teams to ensure alignment and consistency in compensation practices.
• Collaborate with the sales team to understand their needs and gather feedback on compensation plans.
• Provide training and support to sales managers and representatives on compensation-related matters.
• Build, lead and develop a team of analysts and specialists responsible for sales compensation and analytics.
• Foster a culture of continuous improvement and data-driven decision-making within the team.
• Mentor and coach team members to enhance their skills and career development.
• Ensure all sales compensation practices comply with relevant laws and regulations.
• Stay updated on industry trends and best practices in sales compensation and analytics.
• Implement process improvements to enhance the efficiency and effectiveness of sales compensation programs.

Requirements

• Bachelors Degree in accounting or financial planning and analysis, or equivalent experience defined as six years combined experience in the above areas or an equivalent combination of education and work experience.
• Minimum 7 years combined experience in sales compensation, sales operations, or a related field.
• Prior supervisory experience of exempt employees preferred.
• Must live in the Minneapolis/St. Paul area and able to work in the office 5 days/week.

Benefits

• Career development with an international company.
• Free medical coverage for employees via the Health Investment Plan (HIP) PPO.
• Excellent retirement savings plan with high employer contribution.
• Tuition reimbursement and student debt program.
• Recognition as a great place to work in various countries.
• Support for diversity, working mothers, female executives, and scientists.